Daily Financial Markets Report | Tuesday, 12 August 2014

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

Highlights

 U.S. stocks advanced Monday, led by a rally in small-cap companies, though continued tensions in Ukraine and the Middle East put a cap on the S&P 500’s gains. The index of small companies has outperformed the large-cap S&P 500 in the five of the past six sessions, and many analysts see the leadership of small stocks as a sign of improving markets. European stocks swung higher Monday, as Russia indicated it will work to ease tensions over Ukraine.

 Spot gold is currently trading at US$ 1 305.80/oz. and platinum at US$ 1 471.40/oz. Brent crude oil is currently trading at US$ 104.32 per barrel.

 The US dollar is currently trading at 1.33 to the euro, 1.67 to the pound and will buy 102.26 Japanese Yen or 10.66 South African Rand.

International markets

U.S. stocks advanced Monday, led by a rally in small-cap companies, though continued tensions in Ukraine and the Middle East put a cap on the S&P 500’s gains. The index of small companies has outperformed the large-cap S&P 500 in the five of the past six sessions, and many analysts see the leadership of small stocks as a sign of improving markets. European stocks swung higher Monday, as Russia indicated it will work to ease tensions over Ukraine.

Hong Kong stocks retreated Tuesday morning after a 1.3% rally the previous day

The S&P 500 rose 5.32 points, or 0.3%, to 1 936.91, Consumer staples and technology stocks lead the gains. The Dow Jones Industrial Average gained as much as 75 points in the morning, but pared gains in the afternoon. The blue-chip index closed 16.05 points, or 0.1%, higher at 16 569.98. The Nasdaq Composite ended the day up 30.43 points, or 0.7%, at 4 401.33.

The Stoxx Europe 600 climbed 1.4% to 329.36, slicing into last week’s 2.1% slide. Germany’s DAX 30 index bounced up 1.9% to 9 180.74, following last week’s drop of 2.2%. Investors have been concerned about the impact of Russian sanctions on the German economy. The DAX last week fell into correction mode, losing 10% of its value after reaching an all-time high in June. In Paris, the CAC 40 finished 1.2% higher at 4,197.70, and in London, the U.K. FTSE 100 rose 1% to 6 632.82.

The Hang Seng Index slipped 0.2%. In Tokyo the Nikkei Average was up 0.3%.

The US dollar is currently trading at 1.33 to the euro, 1.67 to the pound and will buy 102.26 Japanese Yen or 10.66 South African Rand.

Domestic markets

The Top-40 blue-chip index was up 1.79% to 46 377 points while the broader All-Share index rose 1.68% to 51 523. The banking index was up 1.65%.

Commodities

Spot gold is currently trading at US$ 1 305.80/oz. and platinum at US$ 1 471.40/oz. Brent crude oil is currently trading at US$ 104.32 per barrel.

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