Daily Financial Market Report: Wednesday 22 January 2014

sacciDaily Financial Markets Report sources information from Business Day, Reuters, JSE Ltd and others.

Highlights

 U.S. stocks closed mostly higher on Tuesday, as main indexes rose earlier in the session after the news that China’s central bank injected liquidity into the financial system, benefitting materials and energy sectors. European stock markets ended a volatile day on a mostly upbeat note on Tuesday, with a global growth upgrade from the International Monetary Fund and a money-market intervention from the People’s Bank of China helping markets. Hong Kong stocks extended the previous day’s gains this morning. Japanese stocks started this morning’s trading session with losses ahead of the conclusion of the Bank of Japan’s monetary policy meeting.

 Spot gold is currently trading at US$ 1 242.30/oz. and platinum at US$ 1 458.50/oz. Brent crude oil is currently trading at US$ 107.04 per barrel.

 The US dollar is currently trading at 1.35 to the euro, 1.64 to the pound and will buy 104.46 Japanese Yen or 10.80 South African Rand.

International markets

U.S. stocks closed mostly higher on Tuesday, as main indexes rose earlier in the session after the news that China’s central bank injected liquidity into the financial system, benefitting materials and energy sectors. European stock markets ended a volatile day on a mostly upbeat note on Tuesday, with a global growth upgrade from the International Monetary Fund and a money-market intervention from the People’s Bank of China helping markets. Hong Kong stocks extended the previous day’s gains this morning. Japanese stocks started this morning’s trading session with losses ahead of the conclusion of the Bank of Japan’s monetary policy meeting.

The S&P 500 closed 5.10 points, or 0.3%, to 1 843.80, breaking a two-day losing streak. The Dow Jones Industrial Average ended 44.12 points, or 0.3%, lower at 16 414.44. The Nasdaq Composite was the best performing index, gaining 28.18 points, or 0.7%, to 4 225.76.

The Stoxx Europe 600 index rose 0.1% to close at 335.76, after trading as high as 337.65 earlier in the day. The U.K.’s FTSE 100 index, however, ended slightly lower at 6 834.26. Germany’s DAX 30 index rose 0.2% to 9 730.12. France’s CAC 40 index was slightly higher at 4 323.87.

The Hang Seng Index edged higher by 0.2% to 23 078.31. The Nikkei Stock Average fell 0.3% to 15 741.57, and the broader Topix shed 0.1% to 1 295.45.

The US dollar is currently trading at 1.35 to the euro, 1.64 to the pound and will buy 104.46 Japanese Yen or 10.80 South African Rand.

Domestic markets

The Top-40 index closed down 0.11% at 42 195.76. The wider All-share index shed 0.1% to 46 889.64.

Commodities

Spot gold is currently trading at US$ 1 242.30/oz. and platinum.

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