Daily Financial Markets Report | Monday, 26 May 2014

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

Highlights

 The U.S. stock market finished the week with solid gains, sending the S&P 500 above the 1,900 level, a first on a closing basis. European stock markets fell at the open on Friday as investors waited for data from the Ifo institute that are expected to show a drop in German business confidence. Asian stocks were mostly higher on Friday, following a positive U.S. lead, while Thai markets fell after the country’s military took control in a coup.

 The Top-40 index ticked up 0.12% to 44 894.82, while the broader All-Share index also edged up 0.12% to 49 952.69.

 Spot gold is currently trading at US$ 1 305.70oz. and Platinum at US$ 1 475.40/oz. Brent crude oil is currently trading at US$ 110.15 per barrel.

International Markets

The U.S. stock market finished the week with solid gains, sending the S&P 500 above the 1,900 level, a first on a closing basis. European stock markets fell at the open on Friday as investors waited for data from the Ifo institute that are expected to show a drop in German business confidence. Asian stocks were mostly higher on Friday, following a positive U.S. lead, while Thai markets fell after the country’s military took control in a coup.

The S&P 500 closed 8.04 points, or 0.4%, higher at 1,900.53, a record level, and gained 1.2% over the week. The Dow Jones Industrial Average gained 63.19 points, or 0.4%, to 16,606.27 and finished the week 0.7% higher. The NASDAQ Composite ended the day up 31.47 points, or 0.8%, at 4,185.81, clocking in a 2.3% gain over the past five days.

The Stoxx Europe 600 index fell 0.1% to 340.63, trimming its weekly gain to 0.4%. Germany’s DAX 30 index slipped 0.1% to 9,715.7, while France’s CAC 40 index dropped 0.1% to 4,474.14. The U.K.’s FTSE 100 index lost 0.2% to 6,806.24.

The Japan Nikkei ending up 0.9%. Hong Kong stocks closed positive after a choppy session, with the Hang Seng Index for its fourth straight day of gains

Domestic markets

The Top-40 index ticked up 0.12% to 44 894.82, while the broader All-Share index also edged up 0.12% to 49 952.69.

Commodities

Spot gold is currently trading at US$ 1 305.70oz. and Platinum at US$ 1 475.40/oz. Brent crude oil is currently trading at US$ 110.15 per barrel.

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