Daily Financial Markets Report | 9 May 2014

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

Highlights

 The U.S. stock market ended a volatile session on Thursday with modest losses, driven by renewed selloffs in previously high-flying names. European stock markets staged broad-based gains on Thursday after European Central Bank President Mario Draghi said the Governing Council was “comfortable” with easing at the next policy meeting. Asian stocks rose on Thursday, bolstered by positive Chinese trade data and upbeat comments from Federal Reserve Chairwoman Janet Yellen about the U.S. economic outlook.

 Spot gold is currently trading at US$ 1 287.40/oz. and platinum at US$ 1 435.70/oz. Brent crude oil is currently trading at US$ 108.22 per barrel.

 The US dollar is currently trading at 1.38 to the euro, 1.69 to the pound and will buy 101.71 Japanese Yen or 10.33 South African Rand.

International markets

The U.S. stock market ended a volatile session on Thursday with modest losses, driven by renewed selloffs in previously high-flying names. European stock markets staged broad-based gains on Thursday after European Central Bank President Mario Draghi said the Governing Council was “comfortable” with easing at the next policy meeting. Asian stocks rose on Thursday, bolstered by positive Chinese trade data and upbeat comments from Federal Reserve Chairwoman Janet Yellen about the U.S. economic outlook.

The Dow Jones Industrial Average managed to stay in positive territory by the end of the session, closing 32.43 points, or 0.2%, higher at 16 550.97. The S&P 500 ended the day down 2.58 points, or 0.1%, at 1 875.63. The Nasdaq Composite shed 16.18 points, or 0.4%, to 4 051.50, losing 2.1% over the past three sessions.

The Stoxx Europe 600 index rallied 1.1% to close at 339.56, after a volatile trading session. The U.K.’s FTSE 100 index gained 0.6% to 6 839.25, while Germany’s DAX 30 index climbed 0.9% to 9 607.40. France’s CAC 40 index rose 1.4% to 4 507.24.

Japanese stocks rebounded from substantial losses on Wednesday, with the Nikkei Average ending up 0.9% and the Topix index closing 0.7% higher. Hong Kong’s benchmark Hang Seng Index finished 0.4% higher, and China’s Shanghai Composite Index rose 0.3%. Australia’s S&P/ASX 200 advanced 0.8%.

The US dollar is currently trading at 1.38 to the euro, 1.69 to the pound and will buy 101.71 Japanese Yen or 10.33 South African Rand.

Domestic markets

The All Share index was up 0.17% to 49 026.95, while the benchmark Top-40 index was up 0.12% to 43 900.72.

Commodities

Spot gold is currently trading at US$ 1 287.40/oz. and platinum at US$ 1 435.70/oz. Brent crude oil is currently trading at US$ 108.22 per barrel.

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