Daily Financial Markets Report | Tuesday, 15 July 2014

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

Highlights

 U.S. stocks rebounded on Monday with the Dow Jones Industrial Average closing above 17,000 as a flurry of deal news and better-than-expected earnings from Citigroup Inc. increased demand for equities. European stock markets rose for a second straight day on Monday as fears about the soundness of Portuguese banks continued to recede. Asian stocks added to their recent gains Tuesday morning, helped by a strong U.S. lead overnight

 The Top 40 index added 0.8% to 46 433, while the All-share rose 0.7% to 51 540. Both remain within range of recently scaled life highs.

 Spot gold is currently trading at US$ 1 307.20oz. and Platinum at US$ 1 500.80/oz. Brent crude oil is currently trading at US$ 106.63 per barrel.

International Markets

U.S. stocks rebounded on Monday with the Dow Jones Industrial Average closing above 17,000 as a flurry of deal news and better-than-expected earnings from Citigroup Inc increased demand for equities. European stock markets rose for a second straight day on Monday as fears about the soundness of Portuguese banks continued to recede. Asian stocks added to their recent gains Tuesday morning, helped by a strong U.S. lead overnight

The S&P 500 closed 9.53 points, or 0.5%, higher at 1,977.10. The Dow Jones Industrial Average scaled an intraday record high, but retreated slightly in the afternoon to close 111.61 points, or 0.7%, higher at 17,055.42. The Nasdaq Composite gained 24.93 points, or 0.6%, to 4,440.42.

The Stoxx Europe 600 index picked up 0.9% to close at 339.79, after last week posting its biggest weekly percentage loss since March. France’s CAC 40 index gained 0.8% to 4,350.04. Germany’s DAX 30 index rallied 1.2% to 9,783.01, a day after the country won the World Cup title in soccer against Argentina. The U.K.’s FTSE 100 index added 0.8% to 6,746.14.

Hang Seng Index up 0.5%. Over on the mainland, the Shanghai Composite Index inched up 0.1%.

Domestic markets

The Top 40 index added 0.8% to 46 433, while the All-share rose 0.7% to 51 540. Both remain within range of recently scaled life highs.

Commodities

Spot gold is currently trading at US$ 1 307.20oz. and Platinum at US$ 1 500.80/oz. Brent crude oil is currently trading at US$ 106.63 per barrel.

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