Daily Financial Market Report: Monday 20 January 2014

sacciHighlights

  • U.S. stocks closed generally lower on Friday as disappointing results weighed on sentiment. But a run in tech stocks, and a Friday lift in financials, helped two benchmarks to weekly gains. European stock markets showed broad-based gains on Friday and scored solid weekly advances after U.K. retail sales jumped more than expected and mining firms continued to rise after a broker upgrade the prior day. Asian stocks dropped early Monday, as investors awaited China’s key economic data.
  • Spot gold is currently trading at US$ 1 257.20/oz. and platinum at US$ 1 461.90/oz. Brent crude oil is currently trading at US$ 106.29 per barrel.
  • The US dollar is currently trading at 1.35 to the euro, 1.64 to the pound and will buy 104.10 Japanese Yen or 10.82 South African Rand.

International markets

U.S. stocks closed generally lower on Friday as disappointing results weighed on sentiment. But a run in tech stocks, and a Friday lift in financials, helped two benchmarks to weekly gains. European stock markets showed broad-based gains on Friday and scored solid weekly advances after U.K. retail sales jumped more than expected and mining firms continued to rise after a broker upgrade the prior day. Asian stocks dropped early Monday, as investors awaited China’s key economic data.

The S&P 500 closed 7.19 points, or 0.4% lower at 1 838.70 and lost 0.2% over the week, with those losses limited by a 1.4% weekly rally in tech stocks. The Nasdaq Composite closed down 21.11 points, or 0.5%, to 4 197.58 but rose 0.5% higher over the week. The technology-heavy index is the only one of the three with year-to-date gains. The Dow Jones Industrial Average bucked the trend and closed higher Friday, the blue-chip index added 41.55 points, or 0.3%, to 16 458.56 and eked out a 0.1% gain over the week, its first weekly gain this year.

The Stoxx Europe 600 added 0.6% to close at 335.82, ending the week 1.8% higher. The U.K.’s FTSE 100 index inched 0.2% higher to 6 829.30. Germany’s DAX 30 index rose 0.3% to 9 742.96, ending 2.9% higher on the week. France’s CAC 40 index put on 0.2% to 4 327.50 and closed out the week 1.8% higher.
The Hang Seng Index edged lower by 0.4% at 23 048.13 .The Nikkei Stock Average fell 0.4% to 15 675.90, and broader Topix lost 0.2% at 1,294.30.
The US dollar is currently trading at 1.35 to the euro, 1.64 to the pound and will buy 104.10 Japanese Yen or 10.82 South African Rand. Domestic markets
The JSE all share index was down 0.11% at 46 675.88 points‚ while the top 40 index gaining 0.06%.

Commodities

Spot gold is currently trading at US$ 1 257.20/oz. and platinum

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