Daily Financial Markets Report | Tuesday, 17 June 2014

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

Highlights

 The U.S. stock market ended Monday’s choppy trading session marginally higher. Investors favoured utilities and energy stocks, while financials and materials were shunned. European stock markets dropped for a second day on Monday as rising tensions and violence in Iraq hampered investors’ risk appetite and drove oil prices to a nine-month high. Asian markets were mostly lower on Tuesday, as Australia was weighed by further falls in mining stocks, while Japanese stocks recovered from a sharp fall in the previous session.

 The benchmark Top-40 index inched up 0.47% to 45 803, while the broader All-Share index gained 0.33% to close at 50 764.

 Spot gold is currently trading at US$ 1 265.60/oz. and platinum at US$ 1 434.20/oz. Brent crude oil is currently trading at US$ 112.82 per barrel.

International markets

The U.S. stock market ended Monday’s choppy trading session marginally higher. Investors favoured utilities and energy stocks, while financials and materials were shunned. European stock markets dropped for a second day on Monday as rising tensions and violence in Iraq hampered investors’ risk appetite and drove oil prices to a nine-month high. Asian markets were mostly lower on Tuesday, as Australia was weighed by further falls in mining stocks, while Japanese stocks recovered from a sharp fall in the previous session.

The S&P 500 closed 1.62 points, or 0.1%, higher at 1,937.78. The Dow Jones Industrial Average added 5.27 points to 16,781.01. The NASDAQ Composite ended the day up 10.45 points, or 0.2% at 4,321.11.

The Stoxx Europe 600 index fell 0.5% to close at 345.52, adding to a 0.2% loss on Friday. The U.K.’s FTSE 100 index fell 0.3% to 6,754.64. Germany’s DAX 30 index fell 0.3% to 9,883.98 and France’s CAC 40 index gave up 0.7% to 4,510.05.

The Nikkei Average started the day 0.6% higher, as the market recovered from a 1.1% drop on Monday — the index’s largest daily fall in a month. In China stocks were lower, with Hong Kong’s Hang Seng Index down 0.4% and the Shanghai Composite down 0.5%.

Domestic markets

The benchmark Top-40 index inched up 0.47% to 45 803, while the broader All-Share index gained 0.33% to close at 50 764.

Commodities

Spot gold is currently trading at US$ 1 265.60/oz. and platinum at US$ 1 434.20/oz. Brent crude oil is currently trading at US$ 112.82 per barrel.

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