Daily Financial Market, Friday 14 March

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

Highlights

 U.S. stocks ended Thursday with the worst declines in more than five weeks, with the S&P 500 closing below a key technical level and turning negative year-to-date. Investors flocked to safety, bidding up Treasuries. European stocks turned lower in early trade Thursday, slightly extending losses in the previous session that left the benchmark index at its lowest closing level in a month. Asian markets fell on Wednesday, with Japan and Hong Kong leading the region lower, as concerns over China’s economy continued to weigh heavily.

 The US dollar is currently trading at 1.38 to the euro, 1.66 to the pound and will buy 101.63 Japanese Yen or 10.78 South African Rand.

 Spot gold is currently trading at US$ 1 374.80/oz. and platinum at US$ 1 474.20/oz. Brent rude oil is currently trading at US$ 107.39 per barrel.

International markets

U.S. stocks ended Thursday with the worst declines in more than five weeks, with the S&P 500 closing below a key technical level and turning negative year-to-date. Investors flocked to safety, bidding up Treasuries. European stocks turned lower in early trade Thursday, slightly extending losses in the previous session that left the benchmark index at its lowest closing level in a month. Asian markets fell on Wednesday, with Japan and Hong Kong leading the region lower, as concerns over China’s economy continued to weigh heavily.

The S&P 500 closed 21.86 points, or 1.2%, lower at 1 846.34 and erased modest gains for the year. The Dow Jones Industrial Average dropped 231.19 points, or 1.4%, to 16 108.89, falling for the fourth consecutive day. The Nasdaq Composite COMP-1.46% shed 62.91 points, or 1.5%, at 4 260.42.

The Stoxx Europe 600 index was down 0.2% at 327.45, following Wednesday’s 1.1% pullback. The U.K.’s FTSE 100 index lost 0.2% at 6 606.59, France’s CAC 40 index was down 0.1% at 4 301.70, and Germany’s DAX 30 index was off fractionally at 9 196.58.

Japan’s Nikkei lost 2.2% as the yen strengthened against the dollar and Hong Kong’s Hang Seng Index fell by 1.4%.

The US dollar is currently trading at 1.38 to the euro, 1.66 to the pound and will buy 101.63 Japanese Yen or 10.78 South African Rand.

Domestic markets

All-share index traded 142.74 points or 0.30% higher at 47 046 and the Top 40 index lost 183.16 points to 42 424.

Commodities

Spot gold is currently trading at US$ 1 374.80/oz. and platinum at US$ 1 474.20/oz. Brent rude oil is currently trading at US$ 107.39 per barrel.

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