Daily Financial Markets Report | Thursday, 29 May 2014

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

Highlights

 The U.S. stock market ended Wednesday’s choppy session slightly lower, with the main benchmarks ending their four-day winning streak. European stocks drifted lower Wednesday, with GlaxoSmithKline PLC among that lost ground and pushed the pan-European equity index to its first loss in six sessions. Asian stocks rose broadly on Wednesday, taking their cue from stronger U.S. stocks overnight.

 The JSE All-share index fell 0.27% to 49 690.58 points and the benchmark Top-40 index was off 0.28% at 44 732.26 points.

 Spot gold is currently trading at US$ 1 257.30oz. and Platinum at US$ 1 459.30/oz. Brent crude oil is currently trading at US$ 109.90 per barrel.

International Markets

The U.S. stock market ended Wednesday’s choppy session slightly lower, with the main benchmarks ending their four-day winning streak. European stocks drifted lower Wednesday, with GlaxoSmithKline PLC among that lost ground and pushed the pan-European equity index to its first loss in six sessions. Asian stocks rose broadly on Wednesday, taking their cue from stronger U.S. stocks overnight.

The S&P 500 traded in positive territory for the most of the session but gave up incremental gains and closed 2.13 points, or 0.1%, lower at 1,909.76. The Dow Jones Industrial Average lost 42.32 points, or 0.3%, to 16,633.05. The NASDAQ Composite dipped in and out of negative territory and ended the day down 11.99 points, or 0.3%, at 4,225.07.

The Stoxx Europe 600 shed 0.1% to 344.29, cutting into its 0.2% gain on Tuesday that left the index at a six-year high. Germany’s DAX 30 ended nearly 2 points lower at 9,939.17 a day after notching a record high. The U.K.’s FTSE 100 managed to turn higher, by 0.1% to 6,851.22.

Japan’s Nikkei Average closed 0.2% higher, marking the fifth consecutive session of gains. Hong Kong’s Hang Seng Index recovered its losses from the previous day, closing up 0.6%.

Domestic markets

The JSE All-share index fell 0.27% to 49 690.58 points and the benchmark Top-40 index was off 0.28% at 44 732.26 points.

Commodities

Spot gold is currently trading at US$ 1 257.30oz. and Platinum at US$ 1 459.30/oz. Brent crude oil is currently trading at US$ 109.90 per barrel.

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