Economic Indicator 19/6/12


International markets

U.S. stocks on yesterday ended with losses for the Dow industrials but a third straight rise for the S&P 500, as Spanish bond yields hit a euro era high, countering cheer that came with the results of Greek elections. Asia stock markets retreated this morning on the Spanish news.

After falling 71 points and rising more than 14 points, the Dow Jones Industrial Average ended down 25.35 points, or 0.2 per cent, to 12 741.82. The S&P 500 Index rose 1.94 points, or 0.1 per cent, to 1 344.78. Gains among the 10 index sectors were led by consumer discretionary, particularly home builders and restaurant stocks, and technology. Energy fell 0.8 per cent, one of two sectors to end lower. The Nasdaq Composite rose 22.53 points, or 0.8 per cent, to 2 895.33, also its third straight rise.

The Stoxx Europe 600 index closed 0.1 per cent higher at 244.36, with gains slowly fading  from the open. The FTSE 100 index, however, gained 0.2 per cent to 5 491.09. German stocks also showed positive trends, with the DAX 30 index gaining 0.3 per cent to 6 248.20. In France, the CAC 40 index, closed down 0.7 per cent to 3 066.19 as banks moved lower.

Japan’s Nikkei Stock Average lost 0.8 per cent, Australia’s S&P/ASX 200 index declined 0.4 per cent, and South Korea’s Kospi slipped 0.2 per cent.

In China, Hong Kong’s Hang Seng Index and the Shanghai Composite each dropped 0.5 per cent. The US dollar is currently trading at 1.26 to the euro, 1.56 to the pound and will buy 78.96 Japanese Yen or 8.30 South African Rand.

Domestic markets

At 11:54 yesterday‚ the JSE All Share index was up 0.74 per cent to 34 211.41 points‚ with resources gaining 0.61 per cent‚ while gold counters were down 0.23 per cent‚ and platinums jumped 1.76 per cent. Financials were up 0.97 per cent‚ banking stocks gained 1.09 per cent and industrials added 0.73 per cent.

The benchmark R157 bond was trading at 6.140 per cent from a best level of 6.065 per cent in early trade and Friday’s close of 6.090 per cent. The R207 was bid at 7.455 per cent and offered at 7.435 per cent from a previous close of 7.400 per cent and the R186 was trading at 8.175 per cent from its previous close of 8.110 per cent.


Spot gold is currently trading at US$ 1 625.70/oz. and platinum at US$ 1 487.40/oz. Brent crude oil is currently trading at US$ 96.05 per barrel.


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