Daily Financial Markets Report: Thursday, 24 July 2014

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

Highlights

 U.S. markets were supported by gains in health care and technology sector stocks. European markets edged up despite the threat of further Russian sanctions. Hong Kong stocks hit their best intraday high in more than seven months.

 Spot gold is currently trading at US$ 1 304.50/oz. and platinum at US$ 1 475.80/oz. Brent crude oil is currently trading at US$ 107.92 per barrel.

 The US dollar is currently trading at 1.34 to the euro, 1.70 to the pound and will buy 101.46 Japanese Yen or 10.53 South African Rand.

International markets

U.S. markets were supported by gains in health care and technology sector stocks. European markets edged up despite the threat of further Russian sanctions. Hong Kong stocks hit their best intraday high in more than seven months.

The S&P 500 closed 3.48 points, or 0.2%, higher at 1 987.01, closing at a record level for the 26th time this year. The Dow Jones Industrial Average closed 26.91 points, or 0.2%, lower at 17 086.63. The Nasdaq Composite ended the session up 17.68 points, or 0.4%, to 4 473.70, with biotechnology companies leading the gains.

The FTSE 100 Index grew by 0.04% to 6 798.15. The German DAX rose by 0.2% to 9 753.56 and in Paris the French CAC 40 Index rose 0.16% to 4 376.32.

The Hang Seng Index was up 0.3%, breaking the psychologically important 24 000 mark for the first time since December. The shares got a boost after preliminary July data from HSBC showed Chinese manufacturing activity rising to its best level in 18 months. Over on the Chinese mainland, the Shanghai Composite Index gained 0.7%, rising for a third straight session.

The US dollar is currently trading at 1.34 to the euro, 1.70 to the pound and will buy 101.46 Japanese Yen or 10.53 South African Rand.

Domestic markets

The All-share index was again below 52 000 points and only 0.03% lower than Tuesday at 51 924 points, while the Top 40 index also traded 0.03% lower at 46 774 points.

Commodities

Spot gold is currently trading at US$ 1 304.50/oz. and platinum at US$ 1 475.80/oz. Brent crude oil is currently trading at US$ 107.92 per barrel.

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