Economic Indicators 2/12/11

Economic Indicator George Chamber

Highlights

  • Global markets remained muted before today’s November jobs report and after claims for U.S. unemployment benefits rose last week.
  • The US dollar is currently trading at 1.34 to the euro, 1.56 to the pound and will buy 77.77 Japanese Yen or 8.05 South African Rand.
  • Spot gold is currently trading at US$ 1 741.90/oz. and platinum at US$ 1 557.20/oz. Brent crude oil is currently trading at US$ 108.99 per barrel.

International markets

Global markets remained muted before today’s November jobs report and after claims for
U.S. unemployment benefits rose last week.

The Dow Jones Industrial Average fell 25.65 points, or 0.2 per cent, to 12 020.03, with 20 of its 30 components losing ground. The S&P 500 Index shed 2.37 points , or 0.2 per cent, at 1 244.59 with financial firms the heaviest weight and technology the best performing of its 10 major sectors. The Nasdaq Composite Index gained 5.86 points, or 0.2 per cent, to 2 626.20.

The Stoxx Europe 600 index fell 0.7 per cent to end at 238.49 after closing up in the previous four trading sessions. The German DAX 30 fell 0.9 per cent to 6 035.88. The French CAC 40 index dropped 0.8 per cent to 3 129.95, weighed by financials. The U.K.’s FTSE 100 index fell 0.3 per cent to 5 489.34, as bank shares posted losses.

After rallying sharply in the previous session, Japan’s Nikkei Stock Average rose 0.2 per cent, and Australia’s S&P/ASX 200 rose 0.5 per cent, while Hong Kong’s Hang Seng Index slipped 0.5 per cent and South Korea’s Kospi traded down 0.4 per cent. However, the Shanghai Composite Index took a more sizeable 1.4 per cent loss.

The US dollar is currently trading at 1.34 to the euro, 1.56 to the pound and will buy 77.77 Japanese Yen or 8.05 South African Rand.

Domestic markets

The JSE closed off yesterday in the red on the back of a lower US market open.

The all share index had lowered 0.19 per cent to 32,748.85 points. Gold shares lifted 1.38 per cent and resources secured 0.25 per cent, however platinums declined 2.07 per cent. Industrials diminished 0.62 per cent, banks lost 0.25 per cent and financials moved 0.14 per cent lower.

Commodities

Spot gold is currently trading at US$ 1 741.90/oz. and platinum at US$ 1 557.20/oz. Brent crude oil is currently trading at US$ 108.99 per barrel.

 

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