Daily Financial Markets Report: Thursday 06 February 2014

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

U.S. stocks ended Wednesday’s choppy session lower after investors were unable to shrug off worries over the economy. A weaker-than-expected ADP jobs report and the ISM report on the services side of the economy compounded fears that the U.S. recovery is still vulnerable. European stock markets slipped into negative territory Wednesday afternoon after the U.S. ADP jobs report showed a weaker-than-expected 175,000 private-sector jobs were added to the economy in January. In Asia, Hong Kong stocks rose modestly at the start of trading this morning, as casino stocks rebounded after selloffs and as Hong Kong retailers were pushed up by robust sales during the Lunar New Year. Stocks in Japan rose in early trade, with the benchmark index building on its advance of 1.2% in the previous session.

 The US dollar is currently trading at 1.35 to the euro, 1.63 to the pound and will buy 101.43 Japanese Yen or 11.06 South African Rand.

 Spot gold is currently trading at US$ 1 259.00/oz. and platinum at US$ 1 380.50/oz. Brent crude oil is currently trading at US$ $ 106.23 per barrel.

International markets

U.S. stocks ended Wednesday’s choppy session lower after investors were unable to shrug off worries over the economy. A weaker-than-expected ADP jobs report and the ISM report on the services side of the economy compounded fears that the U.S. recovery is still vulnerable. European stock markets slipped into negative territory Wednesday afternoon after the U.S. ADP jobs report showed a weaker-than-expected 175,000 private-sector jobs were added to the economy in January. In Asia, Hong Kong stocks rose modestly at the start of trading this morning, as casino stocks rebounded after selloffs and as Hong Kong retailers were pushed up by robust sales during the Lunar New Year. Stocks in Japan rose in early trade, with the benchmark index building on its advance of 1.2% in the previous session.

The Dow Jones Industrial Average, which dropped over 100 points at session lows, closed 5.07 points lower at 15 440.30. The S&P closed down 0.2% at 1 751.64. The Nasdaq Composite closed 0.5%, lower at 4 011.55.

The Stoxx Europe 600 index fell 0.1% to 317.41, after trading as high as 219.21 earlier in the day. Germany’s DAX 30 index dropped 0.4% to 9 096.11, France’s CAC 40 index lost 0.2% to 4 110.78 and the U.K.’s FTSE 100 index gained 0.2% to 6 460.79.

The Hang Seng Index moved up 0.2% to 21 329.35. The Nikkei Stock Average rose 0.7% to 12 276.40, and the broader Topix gained 0.4% to 1 167.62. The S&P/ASX 200 improved by 0.7% to 5 104.80.

The US dollar is currently trading at 1.35 to the euro, 1.63 to the pound and will buy 101.43 Japanese Yen or 11.06 South African Rand.

Domestic markets

The JSE all share closed marginally higher on Wednesday‚ breaking an eight-day losing streak as gold and industrial shares closed higher‚ while financials and banking stocks remained under pressure. The All Share was 0.06% higher at 44 477.18‚ with the Top 40 index also up 0.06%.

Commodities

Spot gold is currently trading at US$ 1 259.00/oz. and platinum at US$ 1 380.50/oz. Brent crude oil is currently trading at US$ $ 106.23 per barrel

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