Daily Financial Markets Report Wednesday, 23 July 2014

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

Highlights

 The U.S. stock market closed modestly higher, boosted by better-than-expected inflation and housing reports as well as a flood of second-quarter earnings reports. European stocks pushed higher Tuesday, getting a lift from oil stocks and a handful of banks. Hong Kong stocks extended their recent gains Wednesday morning

 Spot gold is currently trading at US$ 1 306.10/oz. and platinum at US$ 1 489.90/oz. Brent crude oil is currently trading at US$ 107.22 per barrel.

 The US dollar is currently trading at 1.34 to the euro, 1.70 to the pound and will buy 101.40 Japanese Yen or 10.56 South African Rand.

International markets

The U.S. stock market closed modestly higher, boosted by better-than-expected inflation and housing reports as well as a flood of second-quarter earnings reports. European stocks pushed higher Tuesday, getting a lift from oil stocks and a handful of banks. Hong Kong stocks extended their recent gains Wednesday morning

The S&P 500 ended the session 9.93 points, or 0.5%, higher at 1 983.56. The benchmark index closed within a striking distance from its record closing level, reached on July 3. The Dow Jones Industrial Average added 61.81 points, or 0.4%, to 17 113.54. The Nasdaq Composite gained 31.31 points, or 0.7%, to 4 456.02.

The pan-European Stoxx Europe 600 index rose 1.3% to 342.44, its first advance in four sessions. Overall, the U.K.’s FTSE 100 index tacked on 1% to 6 795.34, its highest close in two weeks. In Paris, the CAC 40 index rose 1.5% to 4 369.52. Germany’s DAX 30 index rose 1.3% to 9 734.33, marking its first gain in four sessions.

The Hang Seng Index rose 0.4% after hitting its highest closing level this year in the previous session. Over on the Chinese mainland, the Shanghai Composite also rose further with a 0.2% advance, following a solid 1% rally on Tuesday.

The US dollar is currently trading at 1.34 to the euro, 1.70 to the pound and will buy 101.40 Japanese Yen or 10.56 South African Rand.

Domestic markets

The benchmark Top 40 index rose 1.1% to 46 789 while the broader All-share added 1% to 51 931. Both indices are within easy range of life highs scaled earlier this month.

Commodities

Spot gold is currently trading at US$ 1 306.10/oz. and platinum at US$ 1 489.90/oz. Brent crude oil is currently trading at US$ 107.22 per barrel.

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