Daily Financial Markets Report | Friday, 4 July 2014

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

Highlights

 US Markets closed at record levels in a holiday-shortened week, fuelled by a jobs report that was far stronger than expected but nonetheless isn’t shifting expectations about when the Federal Reserve will start raising interest rates. European stocks climbed Thursday after the European Central Bank held key interest rates unchanged, while the euro weakened largely in the wake of a strong jobs report from the U.S. Asian stocks rose Friday following an upbeat employment report in the U.S.

 The JSE Top-40 index inched up 0.13% to 46 951 points, after setting a record 47 143 earlier. The broader All-share index was up 0.07% at 51 918 points.

 Spot gold is currently trading at US$ 1 319.40oz. and Platinum at US$ 1 502.10/oz. Brent crude oil is currently trading at US$ 111.03 per barrel.

International Markets

US Markets closed at record levels in a holiday-shortened week, fuelled by a jobs report that was far stronger than expected but nonetheless isn’t shifting expectations about when the Federal Reserve will start raising interest rates. European stocks climbed Thursday after the European Central Bank held key interest rates unchanged, while the euro weakened largely in the wake of a strong jobs report from the U.S. Asian stocks rose Friday following an upbeat employment report in the U.S.

The Dow Jones Industrial Average closed 92.41 points, or 0.6%, higher at the preliminary 17,068.26 and gained 1.3% over the week. The S&P 500 added 10.81 points, or 0.6%, to 1,985.343 and was 1.3% higher on the week. The NASDAQ Composite added 28.19 points, or 0.6%, to 4,485.93 and finished the week with a 2% gain, its third weekly gain in a row.

The Stoxx Europe 600 index ended up 0.9% at 348.91, a third win in a row. The U.K.’s FTSE 100 rose 0.7% to 6,865.21 and France’s CAC 40 equity index was driven 1% higher to 4,489.88. Germany’s DAX 30 climbed 1.2% to 10,029.43, the strongest gain in more than a month.

Japan’s Nikkei 225 rose 0.5% to 15430.69, hitting a five-month high in initial trade. Hong Kong’s Hang Seng Index rose 0.2% to 23575.01.

Domestic markets

The JSE Top-40 index inched up 0.13% to 46 951 points, after setting a record 47 143 earlier. The broader All-share index was up 0.07% at 51 918 points.

Commodities

Spot gold is currently trading at US$ 1 319.40oz. and Platinum at US$ 1 502.10/oz. Brent crude oil is currently trading at US$ 111.03 per barrel.

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