Market Indicators 18/11/11

Market Indicators George Chamber

International markets

Global stock markets closed higher for on Friday after political moves in Europe assuaged
investor concerns.

The Dow Jones Industrial Average climbed 259.89 points, or 2.2 per cent, to 12 153.68, with all 30 of its components gaining ground. Blue-chip advancers were led by Walt Disney which rallied 6 per cent a day after the company reported a fourth-quarter profit that exceeded expectations. The Standard & Poor’s 500 Index rose 24.16 points, or 2 per cent, to 1 263.85, with consumer discretionary gaining the most among its 10 industry groups, which all rose. The technology-heavy Nasdaq Composite advanced 53.60 points, or 2 per cent, to 2 678.75.

The Stoxx Europe 600 index gained 2.4 per cent to 240.98. For the week, it edged up 0.5 per cent. Meanwhile, France’s CAC-40 index jumped 2.8 per cent to 3,149.38. The DAX 30 index advanced 3.2 per cent to 6,057.03. The U.K.’s FTSE 100 index rose 1.9 per cent to 5,545.38, with bank stocks jumping ahead Hong Kong’s Hang Seng Index jumped 2.4 per cent, while Japan’s Nikkei Stock Average rose 1.1 per cent. South Korea’s Kospi climbed 2.3 per cent, and the Shanghai Composite Index rose 1.6 per cent, while Australia’s S&P/ASX 200 index advanced a more modest 0.2 per cent.

The US dollar is currently trading at 1.36 to the euro, 1.59 to the pound and will buy 77.67 Japanese Yen or 7.97 South African Rand.

 

Domestic markets

The JSE may waded into negative territory during Friday morning as some investors took profits, but bargain hunters quickly re-entered the fray in the afternoon to pull the index back into the black.

By the close the All Share index was up by 0.14 per cent, with only the bankers in the red by 0.12 per cent. Resources turned around to gain 0.23 per cent after being in the doldrums for most of the day, with gold up 0.30 per cent in line with a higher gold price and platinum up by 1.40 per cent. Industrials eked out 0.07 per cent, while financials garnered just 0.09 per cent.
By close of day the benchmark R157 bond was trading at 6.620 per cent from its previous close of 6.480 per cent. The R207 was bid at 7.920 per cent and offered at 7.945 per cent from a previous close of 7.805 per cent and the R186 was trading at 8.350 per cent from its close of 8.280 per cent.

Commodities

Spot gold is currently trading at US$ 1781.31/oz and platinum at US$ 1 642.70/oz. Brent crude oil is currently trading at US$ 114.09 per barrel.

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