Economic Indicators 3/2/12

Geogre Chamber Economic Indicators

International markets

Global markets rose yesterday on signs of an improving US job market, but worries that Greece’s talks with creditors were dragging pressured the euro lower and kept the gains in equities modest.

The Dow Jones industrial average gained 8.86 points, or 0.07 per cent, to 12,725.32. The Standard & Poor’s 500 Index gained 3.85 points, or 0.29 per cent, to 1,327.94. The Nasdaq Composite Index gained 16.51 points, or 0.58 per cent, to 2,864.78.

European markets edged higher yesterday, supported by the U.S. macroeconomic data and a mining-sector rally after Xstrata PLC confirmed it’s in merger talks with Glencore International PLC.

The pan-European Stoxx 600 index closed 0.2 per cent higher to 260.11; France’s CAC 40 index increased 0.3 per cent to 3,376.66, while Germany’s DAX 30 index rose 0.6 per cent to 6,655.63. In London, the FTSE 100 index nudged 0.1 per cent higher to 5,796.07.
This morning, Asian stock markets were mixed as many investors took to the side-lines ahead of crucial jobs data from the U.S. later in the day, with Seoul and Tokyo stocks undermined by largely weaker earnings.

Japan’s Nikkei Stock Average eased 0.3 per cent, Australia’s S&P/ASX 200 fell 0.3 per cent, South Korea’s Kospi Composite fell 0.9 per cent, China’s Shanghai Composite Index was flat, Hong Kong’s Hang Seng Index and India’s Sensex was flat.

The US dollar is currently trading at 1.31 to the euro, 1.57 to the pound and will buy 76.02 Japanese Yen or 7.66 South African Rand.

Domestic markets

The JSE was up at the close yesterday, as the market’s underlying momentum supported gains.

At the close, the JSE all-share index closed up 0.68 per cent at 34,371.50. An intraday record was set for the all-share (34,460.57), industrials (36,166.13) and banks (45,186.45). Platinum declined 1.66 per cent, however resources moved 0.99 per cent higher and gold stocks were static (0.02 per cent). Banks generated 0.90 per cent; financials added 0.75 per cent and industrials collected 0.40 per cent.
South African bonds firmer yesterday.

At the close, the R157 bond was trading at 6.400 per cent, from its previous close of 6.390 per cent.    The    R207    was    trading    at    7.580 per cent    from    a    previous    close    of 7.625 per cent and the R186 was trading at 8.030 per cent from its close of 8.120 per cent.

 

Commodities

Brent crude oil inched higher yesterday to as a large build-up of oil stocks in top consumer
the United States countered upbeat economic data globally.

Spot gold is currently trading at US$ 1757.86/oz and platinum at US$ 1632.00/oz. Brent crude oil is currently trading at US$ 112.42 per barrel.

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