Daily Financial Markets Report | Friday, 1 August 2014

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

Highlights

 U.S. stocks tumbled on this last day of July, handing the S&P 500 and Dow industrials their first down month since January. A raft of disappointing earnings reports from European heavyweights pushed the region’s benchmark stock index to the lowest close since April on Thursday, while another soft inflation reading for the euro zone offered little consolation. Hong Kong stocks failed to get enough of a boost from upbeat Chinese manufacturing data to breach positive territory Friday morning, with the numbers outweighed by U.S. stocks’ worst daily drop in six months.

 Spot gold is currently trading at US$ 1 283.60/oz. and platinum at US$ 1 468.00/oz. Brent crude oil is currently trading at US$ 106.10 per barrel.

 The US dollar is currently trading at 1.33 to the euro, 1.68 to the pound and will buy 102.94 Japanese Yen or 10.73 South African Rand.

International markets

U.S. stocks tumbled on this last day of July, handing the S&P 500 and Dow industrials their first down month since January. A raft of disappointing earnings reports from European heavyweights pushed the region’s benchmark stock index to the lowest close since April on Thursday, while another soft inflation reading for the euro zone offered little consolation. Hong Kong stocks failed to get enough of a boost from upbeat Chinese manufacturing data to breach positive territory Friday morning, with the numbers outweighed by U.S. stocks’ worst daily drop in six months.

The Dow suffered its largest single-day drop since 3 February, both in terms of percentage and points. The blue-chip index closed down 317 points, or 1.9%, at 16 563. The S&P 500 endured its biggest one-day slide since 3 February in terms of points, but just since 10 April in terms of percentage loss. The benchmark fell 39.40 points, or 2%, to finish just below 1 931.

The Stoxx Europe 600 index lost 1.3% to end at 335.99, marking the lowest close since late April. For July, the benchmark dropped 1.7%, the biggest monthly slide since January. Germany’s DAX 30 index slumped 1.9% to 9 407.48, for a 4.3% decline for July. France’s CAC 40 index gave up 1.5%, closing 4% lower on the month. The U.K.’s FTSE 100 index dropped 0.6% to 6 730.11, erasing its monthly gain to end 0.2% lower in July.

The Hang Seng Index traded down 0.4%, set to break its eight-session string of gains. Over on the Chinese mainland, the Shanghai Composite Index managed to buck the downtrend for Asian equities to rise 0.1%.

The US dollar is currently trading at 1.33 to the euro, 1.68 to the pound and will buy 102.94 Japanese Yen or 10.73 South African Rand.

Domestic markets

The All-share index on the JSE was 0.48% lower on 51 523 points, while the Top 40 index lost 0.54% to 46 341.

Commodities

Spot gold is currently trading at US$ 1 283.60/oz. and platinum at US$ 1 468.00/oz. Brent crude oil is currently trading at US$ 106.10 per barrel.

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