Economic Indicators 17/7/12

International markets

U.S. stocks rallied Friday to end their longest losing stretch since May after J.P. Morgan reported quarterly results that beat expectations. European stocks jumped and broke a two- day losing streak on Friday as resource shares climbed after China’s economic-growth rate met market expectations and as telecoms rallied on a sector upgrade. Mainland Chinese stocks tumbled on Monday after several corporate profit warnings and some downbeat comments on the economy from China’s premier, but other Asian markets found support from stronger signals on the U.S. earnings front. Chinese Premier Wen Jiabao said Saturday that his nation’s economic rebound wasn’t yet stable and that hardship may continue for a period of time, according to a state-media report.

After six down sessions, the Dow Jones Industrial Average rose 203.82 points, or 1.6 per cent, to 12 777.09, up 0.04 per cent for the week. The S&P 500 index added 22.01 points, or 1.7 per cent, to 1 356.77, leaving it 0.2 per cent above last Friday’s finish. The Nasdaq Composite climbed 42.28 points, or 1.5 per cent, to 2 908.47, off 1 per cent for the week.

The Stoxx Europe 600 index jumped 1.3 per cent to 256.26, following two sessions mired in the red as investors worried about global growth prospects. The benchmark extended gains after a positive open on Wall Street. London’s FTSE 100 index advanced 1 per cent to 5 666.13. For the week, the index closed up 0.1 per cent. The CAC 40 index rose 1.5 per cent to 3 180.81. The index closed out the week with a 0.4 per cent gain. The DAX 30 index added 2.2 per cent to 6 557.10 in Frankfurt and was 2.3 per cent higher for the week.

The Shanghai Composite index fell 1.2 per cent, while South Korea’s Kospi traded flat, Hong Kong’s Hang Seng Index edged up 0.2 per cent and Australia’s S&P/ASX 200 index rose 0.5 per cent. Japanese share markets were closed for a holiday.

The US dollar is currently trading at 1.22 to the euro, 1.55 to the pound and will buy 79.08 Japanese Yen or 8.25 South African Rand.

Domestic markets

At 12:02‚ the JSE All Share index was up 0.69 per cent at 33 620.57 points‚ with resources gaining 1.23 per cent‚ gold shares rising 1.44 per cent and platinum counters climbing 0.47 per cent. Financials stayed flat (0.05 per cent)‚ industrials were 0.67 per cent firmer‚ while banking stocks shed 0.43 per cent.

The benchmark R157 bond was trading at 5,785 per cent from Thursday’s close of 5,845 per cent and Wednesday’s close of 5,870 per cent. The R207 was trading at 6,840 per cent from a previous close of 6,880 per cent and the R186 was trading at 7,570 per cent from its previous close of 7,680 per cent.

Commodities

Spot gold is currently trading at US$ 1 591.60/oz. and platinum at US$ 1 432.20/oz. Brent crude oil is currently trading at US$ 102.40 per barrel.

 

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