Daily Financial Markets Report | Thursday, 7 August 2014

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

Highlights

 U.S. stocks ended Wednesday marginally higher, as investors remained cautious in the wake of heightened geopolitical risks and downbeat European economic news. A lack of risk appetite globally pushed prices of safe-haven assets higher. European stocks dropped Wednesday, with Italy’s return to recession coming on top of market unease about escalating tensions between Russia, Ukraine and the West. Hong Kong stocks headed for a second day of losses Thursday morning, as casino stocks suffered heavily.

 Spot gold is currently trading at US$ 1 306.10/oz. and platinum at US$ 1 471.40/oz. Brent crude oil is currently trading at US$ 104.71 per barrel.

 The US dollar is currently trading at 1.33 to the euro, 1.68 to the pound and will buy 102.33 Japanese Yen or 10.75 South African Rand.

International markets

U.S. stocks ended Wednesday marginally higher, as investors remained cautious in the wake of heightened geopolitical risks and downbeat European economic news. A lack of risk appetite globally pushed prices of safe-haven assets higher. European stocks dropped Wednesday, with Italy’s return to recession coming on top of market unease about escalating tensions between Russia, Ukraine and the West. Hong Kong stocks headed for a second day of losses Thursday morning, as casino stocks suffered heavily.

The S&P 500 was flat at 1 920.23. The Dow Jones Industrial Average gained 13.87 points, or 0.1%, to 16 443.34. The Nasdaq Composite added 2.22 points to 4 355.05.

The Stoxx Europe 600 fell 0.9% to 329.21. Stocks started in the red, following losses on Wall Street on Tuesday and in Asia on Wednesday. In Paris, the CAC 40 shed 0.6% to close at 4 207.14. In Frankfurt, the DAX 30 fell 0.7% to 9 130.04. The FTSE 100 Index lost 0.69% to 6 636.16.

The Hang Seng Index dropped 0.6%.Over on the Chinese mainland, the Shanghai Composite Index pulled back 0.4%.

The US dollar is currently trading at 1.33 to the euro, 1.68 to the pound and will buy 102.33 Japanese Yen or 10.75 South African Rand.

Domestic markets

The All-share index was 0.83% weaker at 50 921 points, while the Top 40 index lost 0.78% to 45 752 points. The industrial index was 0.78% lower.

Commodities

Spot gold is currently trading at US$ 1 306.10/oz. and platinum at US$ 1 471.40/oz. Brent crude oil is currently trading at US$ 104.71 per barrel.

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