Daily Financial Markets Report | Thursday, 26 June 2014

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

Highlights

 U.S. stocks closed higher Wednesday, recovering from a weak revision of first-quarter economic performance, as media stocks got a lift from a Supreme Court ruling and refinery stocks dropped on a weakening of an oil export ban. European stocks dropped Wednesday, notching a fourth consecutive day of declines as they keyed off a slide in the U.S. equity market. Asian stocks ended mostly higher on Tuesday, and Japan’s Nikkei Average nudged higher to hit another five-month high.

 The JSE Top-40 index ended down 1.06% at 45 383 and the broader All-share index also gave up 1.06% to 50 350.

 Spot gold is currently trading at US$ 1 316.30oz. and Platinum at US$ 1 468.70/oz. Brent crude oil is currently trading at US$ 113.91 per barrel.

International Markets

U.S. stocks closed higher Wednesday, recovering from a weak revision of first-quarter economic performance, as media stocks got a lift from a Supreme Court ruling and refinery stocks dropped on a weakening of an oil export ban. European stocks dropped Wednesday, notching a fourth consecutive day of declines as they keyed off a slide in the U.S. equity market. Asian stocks ended mostly higher on Tuesday, and Japan’s Nikkei Average nudged higher to hit another five-month high.

The S&P 500 Index rose 9.55 points, or 0.5%, to end at 1,959.53, while the Dow Jones Industrial Average gained 49.38 points, or 0.3%, to finish at 16,867.51. The Nasdaq Composite Index climbed 29.40 points, or 0.7%, to close at 4,379.76

The Stoxx Europe 600 index fell 1.1% to 341.94, the biggest percentage loss since mid-April, according to FactSet data. Germany’s DAX 30 equity index lost 0.7% to 9,867.75, and the U.K.’s FTSE 100 index declined 0.8% to 6,733.62. In Paris, the CAC 40 index fell 1.3% to 4,460.60.

Hong Kong and Shanghai stocks recovered losses from Wednesday, with the Hang Seng Index and the Shanghai Composite Index up 0.3% and 0.5% respectively.

Domestic markets

The JSE Top-40 index ended down 1.06% at 45 383 and the broader All-share index also gave up 1.06% to 50 350.

Commodities

Spot gold is currently trading at US$ 1 316.30oz. and Platinum at US$ 1 468.70/oz. Brent crude oil is currently trading at US$ 113.91 per barrel.

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