Daily Financial Markets Report | Monday, 11 August 2014

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

Highlights

 American stocks closed sharply higher Friday and posted modest gains for the week as risk appetite returned after news reports that Russia ended military exercises on the Ukrainian border. European stocks fell Friday, and logged losses of more than 2% for the week in which geopolitical tensions and regional growth concerns took their toll. Following a positive lead from the U.S. on Friday, Hong Kong stocks rebounded Monday morning from three straight sessions of losses.

 The US dollar is currently trading at 1.33 to the euro, 1.67 to the pound and will buy 102.10 Japanese Yen or 10.66 South African Rand.

 Spot gold is currently trading at US$ 1 306.60/oz. and platinum at US$ 1 470.70/oz. Brent crude oil is currently trading at US$ 104.93 per barrel.

International markets

American stocks closed sharply higher Friday and posted modest gains for the week as risk appetite returned after news reports that Russia ended military exercises on the Ukrainian border. European stocks fell Friday, and logged losses of more than 2% for the week in which geopolitical tensions and regional growth concerns took their toll. Following a positive lead from the U.S. on Friday, Hong Kong stocks rebounded Monday morning from three straight sessions of losses.

The S&P 500 closed 22.02 points, or 1.2%, to 1 931.59 and finished the week 0.3% higher. The Dow Jones Industrial Average jumped 185.66 points, or 1.1%, to 16 553.93, its biggest one-day percentage gain in more than 4 months. The Nasdaq Composite gained 36.08 points, or 0.8%, to 4 371.07 and recorded a 0.4% weekly gain.

The Stoxx Europe 600 dropped 0.6% to 324.91, the lowest close since March 24. The DAX 30 this week dropped 2.2%, and marked a 10% fall from its all-time high hit on June 20. The DAX closed Friday’s session down 0.3% at 9 009.32. In Paris, the CAC 40 shed 0.1% to 4 147.81. It closed the week lower by 1.3%. The FTSE 100 Index gained 0.45% to 6 567.

The Hang Seng Index advanced 0.9%, aided by tech and property stocks. Over on the Chinese mainland, the Shanghai Composite Index picked up 0.3%.

The US dollar is currently trading at 1.33 to the euro, 1.67 to the pound and will buy 102.10 Japanese Yen or 10.66 South African Rand.

Domestic markets

The benchmark Top-40 index added 0.06% to 45 561 while the wider All-share index shaved off 0.01%.

Commodities

Spot gold is currently trading at US$ 1 306.60/oz. and platinum at US$ 1 470.70/oz. Brent crude oil is currently trading at US$ 104.93 per barrel.

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