Daily Financial Markets Report | Friday 13 June 2014

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

Highlights

 The U.S. stock market fell on Thursday, as a spike in oil prices and softer-than-expected economic data dented sentiment on Wall Street. European stocks edged up Thursday. Asian stocks moved lower on Friday, as concerns over growing instability in Iraq hit sentiment ahead of a flurry of Chinese economic data.

 Spot gold is currently trading at US$ 1 271.50/oz. and platinum at US$ 1 449.00/oz. Brent crude oil is currently trading at US$ 113.02 per barrel.

 The US dollar is currently trading at 1.35 to the euro, 1.69 to the pound and will buy 102.04 Japanese Yen or 10.70 South African Rand.

International markets

The U.S. stock market fell on Thursday, as a spike in oil prices and softer-than-expected economic data dented sentiment on Wall Street. European stocks edged up Thursday. Asian stocks moved lower on Friday, as concerns over growing instability in Iraq hit sentiment ahead of a flurry of Chinese economic data.

The S&P 500 fell for the third straight session, closing 13.77 points, or 0.7%, lower at 1 930.12. The Dow Jones Industrial Average built on Wednesday’s losses and finished 109.69 points, or 0.7%, lower at 16 734.19. The Nasdaq Composite ended the day down 34.30 points, or 0.8% at 4 297.63.

Gains for the Stoxx Europe 600 were limited. Among country-specific indexes, the U.K.’s FTSE 100 index slipped 0.1% to 6 83045 and Germany’s DAX 30 index picked up less than 2 points at 9 951.23. Technical issues have delayed the opening of trade in France. The CAC 40 index closed Wednesday’s session down 0.9% at 4 555.11.

The Nikkei Share Average was down 0.6%, with the market weighed by a yen that strengthened as news reports showed Iraq edging toward all-out sectarian conflict. South Korea’s Kospi lost 1%, Australia’s S&P/ASX 200 dropped 0.8%, and Singapore’s Straits Times Index lost 0.1%. Hong Kong’s Hang Seng Index was mostly steady ahead of the data, up 0.1%, and the Shanghai Composite Index was flat.

The US dollar is currently trading at 1.35 to the euro, 1.69 to the pound and will buy 102.04 Japanese Yen or 10.70 South African Rand.

Domestic markets

The benchmark Top-40 index fell 0.12% to 45 587.81, while the broader All-share index was also down 0.12% to 50 596.17.

Commodities

Spot gold is currently trading at US$ 1 271.50/oz. and platinum at US$ 1 449.00/oz. Brent crude oil is currently trading at US$ 113.02 per barrel.

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