Daily Financial Markets Report, Thursday, 17 April 2014

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

Highlights

 U.S. stocks rallied Wednesday, and three days of gains sent the benchmark S&P 500 into positive territory for the year. European stock markets moved sharply higher at the open on Wednesday, with resource firms posting some of the biggest gains after better-than-expected growth data from China. Asian markets moved higher on Wednesday as China posted slightly better-than-expected growth data.

 The Top-40 index climbed 0.78% to 43 242.25 while the broader All share index rose 0.73% to 48 139.69.

 Spot gold is currently trading at US$ 1 299.80/oz. and platinum at US$ 1 437.70/oz. Brent crude oil is currently trading at US$ 109.46 per barrel.

International Markets

U.S. stocks rallied Wednesday, and three days of gains sent the benchmark S&P 500 into positive territory for the year. European stock markets moved sharply higher at the open on Wednesday, with resource firms posting some of the biggest gains after better-than-expected growth data from China. Asian markets moved higher on Wednesday as China posted slightly better-than-expected growth data.

The S&P 500 ended the day 19.33 points, or 1.1%, higher at 1 862.31. The Dow Jones Industrial Average jumped 162.29 points, or 1%, to 16 424.85. The NASDAQ Composite added 52.06 points, or 1.3%, to 4 086.23, recouping some of the heavy losses from last week.

The Stoxx Europe 600 index rose 0.9% to 329.49, partly recovering from a 1% slide on Tuesday. The U.K.’s FTSE 100 index climbed 0.7% to 6 587.53, while France’s CAC 40 index added 1.1% to 4 393.51. Germany’s DAX 30 index put on 0.9% to 9 261.28.

Japans Nikkei rose 2.1% as the yen weakened through the ¥102-to-the-dollar mark. Hong Kong’s Hang Seng Index rose by 0.5% and the Shanghai Composite fell 0.1% after data showed that Asia’s largest economy grew by 7.4% in the January to March period compared with a year earlier

Domestic markets

The Top-40 index climbed 0.78% to 43 242.25 while the broader All share index rose 0.73% to 48 139.69.

Commodities

Spot gold is currently trading at US$ 1 299.80/oz. and platinum at US$ 1 437.70/oz. Brent crude oil is currently trading at US$ 109.46 per barrel.

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