Daily Financial Markets Report | Thursday, 8 May 2014

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

Highlights

 Global stocks ended Wednesday’s choppy trading session generally higher, though selling of shares in Internet companies and high-growth companies resulted in a loss on the Nasdaq Composite. Markets recovered early morning losses after Federal Reserve Chairwoman Janet Yellen reiterated that the central bank anticipates keeping interest rates very low, even after employment and inflation return to healthy levels. Asian stocks declined sharply on Wednesday, with Japan leading losses on a firmer yen and a sell-off overnight on Wall Street.

 Spot gold is currently trading at US$ 1 288.50/oz. and platinum at US$ 1 440.20/oz. Brent crude oil is currently trading at US$ 107.98 per barrel.

 The US dollar is currently trading at 1.39 to the euro, 1.69 to the pound and will buy 101.76 Japanese Yen or 10.41 South African Rand.

International markets

Global stocks ended Wednesday’s choppy trading session generally higher, though selling of shares in Internet companies and high-growth companies resulted in a loss on the Nasdaq Composite. Markets recovered early morning losses after Federal Reserve Chairwoman Janet Yellen reiterated that the central bank anticipates keeping interest rates very low, even after employment and inflation return to healthy levels. Asian stocks declined sharply on Wednesday, with Japan leading losses on a firmer yen and a sell-off overnight on Wall Street.

The Nasdaq Composite recovered most of the steep losses and finished the day 13.09 points, or 0.3%, lower at 4 067.67. The S&P 500 ended the day at up 10.49 points, or 0.6%, at 1 878.21. The Dow Jones Industrial Average gained 117.52, or 0.7%, to 16 518.54 by the end of the session.

The Stoxx Europe 600 index ended flat at 336.03 after swinging between gains and losses for most of the afternoon session. The U.K.’s FTSE 100 index ended slightly lower at 6 796.44, while France’s CAC 40 index rose 0.4% to 4 446.44. Germany’s DAX 30 index gained 0.6% to 9 521.30.

Japan’s Nikkei Average tumbled 2.9% at the close. Hong Kong’s Hang Seng Index finished 1.1% lower, South Korea’s Kospi index ended down 1%, China’s Shanghai Composite Index fell 0.9%, and Australia’s S&P/ASX 200 lost 0.8%.

The US dollar is currently trading at 1.39 to the euro, 1.69 to the pound and will buy 101.76 Japanese Yen or 10.41 South African Rand.

Domestic markets

Markets closed for National Elections.

Commodities

Spot gold is currently trading at US$ 1 288.50/oz. and platinum at US$ 1 440.20/oz. Brent crude oil is currently trading at US$ 107.98 per barrel.

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