Daily Financial Markets Report: Tuesday, 18 February 2014

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

Highlights

 European stock markets rose for a second straight day on Monday, with resource firms tracking commodity prices higher and investors welcoming the latest round of earnings. Japanese stocks shot higher in a day of mixed trade in Asia on Tuesday, while investors were digesting a flurry of earnings reports in Australia. U.S. markets were closed for Presidents Day.

 Spot gold is currently trading at US$ 1 318.10/oz. and platinum at US$ 1 418.60/oz. Brent crude oil is currently trading at US$ 108.73 per barrel.

 The US dollar is currently trading at 1.37 to the euro, 1.67 to the pound and will buy 102.65 Japanese Yen or 10.85 South African Rand.

International markets

European stock markets rose for a second straight day on Monday, with resource firms tracking commodity prices higher and investors welcoming the latest round of earnings. Japanese stocks shot higher in a day of mixed trade in Asia on Tuesday, while investors were digesting a flurry of earnings reports in Australia. U.S. markets were closed for Presidents Day.

The Stoxx Europe 600 index added 0.4% to close at 334.56, after posting the biggest weekly gain of 2014 last Friday. Elsewhere, the U.K.’s FTSE 100 index added 1.1% to 6 736.00, France’s CAC 40 index fell 0.1% to 4 335.17, and Germany’s DAX 30 index slipped 0.1% to 9 656.76.

The Nikkei rose by 2.9%, extending earlier gains after the Bank of Japan said it would double incentives designed to increase bank lending — an attempt to increase the effect of monetary stimulus measures that the country is using to battle inflation. The central bank left its main policy program unchanged. In China, Hong Kong’s Hang Seng Index was flat and the Shanghai Composite was 0.5% lower.

The US dollar is currently trading at 1.37 to the euro, 1.67 to the pound and will buy 102.65 Japanese Yen or 10.85 South African Rand.

Domestic markets

The Top-40 index rose 0.92% to a record closing level of 42 478.88. The wider All-share index finished the day 0.86% higher at 47 027.54, marking the second straight session of gains for the market.

Commodities

Spot gold is currently trading at US$ 1 318.10/oz. and platinum at US$ 1 418.60/oz. Brent crude oil is currently trading at US$ 108.73 per barrel.

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