Daily Financial Markets Report | Friday, 23 May 2014

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

Highlights

 U.S. stocks built on advances from the previous session and closed modestly higher on Thursday, with high-growth and small-cap companies leading gains. Investors appeared to shrug off softer economic data, including jobless claims and existing-home sales. European stock markets moved higher in afternoon action on Thursday, as investors took inspiration from a strong open in the U.S. where better-than-expected manufacturing data provided support. Asian stocks rallied on Thursday, bolstered by better-than-expected Chinese manufacturing PMI data and overnight gains on Wall Street.

 The Top-40 index finished up 0.47% at 44 840.03, its highest finish on record, after earlier hitting a lifetime high of 45 026.36. All-share finished up 0.49% at 49 891.36 after earlier topping 50 000 for the first time.

 Spot gold is currently trading at US$ 1294.90 oz. and Platinum at US$ 1 486.10/oz. Brent crude oil is currently trading at US$ 110.36 per barrel.

International Markets

U.S. stocks built on advances from the previous session and closed modestly higher on Thursday, with high-growth and small-cap companies leading gains. Investors appeared to shrug off softer economic data, including jobless claims and existing-home sales. European stock markets moved higher in afternoon action on Thursday, as investors took inspiration from a strong open in the U.S. where better-than-expected manufacturing data provided support. Asian stocks rallied on Thursday, bolstered by better-than-expected Chinese manufacturing PMI data and overnight gains on Wall Street.

The S&P 500 closed 4.46 points, or 0.2%, higher at 1,892.49. The Dow Jones Industrial Average gained 10.02 points, or 0.1%, to 16,543.08. The NASDAQ Composite ended the day up 22.80 points, or 0.6%, at 4,154.34.

The Stoxx Europe 600 index rose 0.2% to end at 341.02, after trading with a loss earlier in the day. France’s CAC 40 index gained 0.2% to 4,478.21, while Germany’s DAX 30 index put on 0.2% to 9,720.91. U.K.’s FTSE 100 index, which closed marginally lower at 6,820.56.

Japan’s Nikkei Average ended up 2.1%. Hong Kong’s Hang Seng Index finished 0.5% higher, but the Shanghai Composite erased earlier gains at the close and slipped 0.2%.

Domestic markets

The Top-40 index finished up 0.47% at 44 840.03, its highest finish on record, after earlier hitting a lifetime high of 45 026.36. All-share finished up 0.49% at 49 891.36 after earlier topping 50 000 for the first time.

Commodities

Spot gold is currently trading at US$ 1294.90 oz. and Platinum at US$ 1 486.10/oz. Brent crude oil is currently trading at US$ 110.36 per barrel.

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