Daily Financial Markets Report | Wednesday, 16 April 2014

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

Highlights

 U.S. stocks closed higher Tuesday following a choppy session, bouncing back from a sizable drop that came after reports of fighting on the ground in Ukraine. European stocks dropped Tuesday, with the losses picking up pace following reports that the crisis in Ukraine had escalated. Asian stocks shot lower on Tuesday amid growing concerns over excess credit in the region’s largest economy, while Japan and Australia recovered from heavy selling in recent sessions.

 The Top-40 index fell 0.83% at 42 905.65 while the broader All-share index dipped 0.88% to 47 789.76.

 Spot gold is currently trading at US$ 1 298.70/oz. and platinum at US$ 1 437.40/oz. Brent crude oil is currently trading at US$ 109.24 per barrel.

International Markets

U.S. stocks closed higher Tuesday following a choppy session, bouncing back from a sizable drop that came after reports of fighting on the ground in Ukraine. European stocks dropped Tuesday, with the losses picking up pace following reports that the crisis in Ukraine had escalated. Asian stocks shot lower on Tuesday amid growing concerns over excess credit in the region’s largest economy, while Japan and Australia recovered from heavy selling in recent sessions.

The S&P 500 rose 12.37, or 0.7%, to end at 1842.98, with energy and utilities faring best among the index’s 10 sectors. The Dow Jones Industrial Average gained 89.32, or 0.6%, to close at 16 262.56. The NASDAQ Composite tacked on 11.47, or 0.3%, to finish at 4 034.16.

The Stoxx Europe 600 index closed lower by 1% at 326.58 after a flurry of late-afternoon reports about various military activities in Ukraine, stoking fears that the country is on the brink of a civil war. German DAX 30 index fell further as the session headed toward the close, and finished down by 1.8% at 9 173.71. The U.K.’s FTSE 100 fell 0.6% to 6 541.61, and France’s CAC 40 gave up gains, closing down 0.9% at 4 345.35.

Japan’s Nikkei was up 0.6% to 13996.81 after the dollar rose 0.2% against the yen on Monday. The yen strengthened a touch on Tuesday–last at ¥101.70 to the dollar, compared with ¥101.84 late Monday in New York.

Domestic markets

The Top-40 index fell 0.83% at 42 905.65 while the broader All-share index dipped 0.88% to 47 789.76.

Commodities

Spot gold is currently trading at US$ 1 298.70/oz. and platinum at US$ 1 437.40/oz. Brent crude oil is currently trading at US$ 109.24 per barrel.

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