Economic Indicators 9/12/11

Economic Indicators George chamber

International markets

US markets ended mostly higher despite doubts that the EU summit Thursday and Friday will produce a credible solution to the Eurozone crisis. Supporting the markets was a report that US consumer credit was growing at a good 3.7 per cent annual rate in October.The Dow Jones Industrial Average closed higher by 46.24 points at 12 196.37. The S&P 500 edged up 2.54 to 1 261.01, while the NASDAQ was essentially unchanged, slipping 0.35 points (0.01) at 2 649.21.

However, European markets ended lower as hopes for progress at this week’s European Union summit were tempered by German objections to an apparent plan to bolster the firepower of the euro zone’s bailout fund.

The Stoxx Europe 600 index lost 0.2 per cent to close at 241.44. The French CAC 40 index slipped 0.1 per cent to close at 3,175.98, and the German DAX 30 index ended 0.6 per cent lower at 5,952.64. The U.K.’s FTSE 100 index fell 0.4 per cent to settle at 5,546.91, led by
losses for financials.

This morning, Asian markets slipped on fears that a summit to save the Eurozone might fail to deliver a knock-out blow to the region’s two-year sovereign debt crisis.

Tokyo shed 1.07 per cent by the break, Hong Kong fell 1.32 per cent, Sydney lost 0.38 per cent, Shanghai gave up 1.11 per cent and Seoul was 0.97 per cent lower.

The US dollar is currently trading at 1.34 to the euro, 1.57 to the pound and will buy 77.65 Japanese Yen or 8.03 South African Rand.

 

 

Domestic markets

The JSE ended higher yesterday. At the close, the all share index had edged 0.13 per cent higher to 32,760.27 points. Gold shares acquired 1.99 per cent, platinum attained 0.30 per cent, while resources declined 0.14 per cent. Banks were up 0.65 per cent, financials 0.30 per cent and industrials 0.21 per cent.

South African bonds were firm yesterday.

By the close, the benchmark R157 bond was trading at 6.680 per cent from its previous close of 6.690 per cent. The R207 was trading at 7.800 per cent from a previous close of 7.845 per cent and the R186 was trading at 8.380 per cent from its close of 8.400 per cent.

Commodities

Brent crude fell on uncertainty about whether a credible deal to resolve the region’s debt crisis will be reached at a keenly awaited summit on Friday.

Spot gold is currently trading at US$ 1738.05/oz and platinum at US$ 1515.50/oz. Brent crude oil is currently trading at US$ 110.09 per barrel.

 

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