Daily Financial Markets Report | Monday, 1 September 2014

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

Highlights

 U.S. stocks closed with modest gains Friday in light trading, building on weekly and monthly advances, as largely upbeat U.S. economic data offset overseas worries. European stock markets ended slightly higher on Friday, after having trimmed earlier gains as investors speculated whether lackluster euro-zone inflation data were weak enough to trigger more easing from the European Central Bank. Hong Kong stocks moved higher Monday morning after a brief loss in choppy opening trade, shrugging off two separate gauges of China’s manufacturing activity which both showed a slight slowing last month.

 Spot gold is currently trading at US$ 1 285.80/oz. and platinum at US$ 1 423.40/oz. Brent crude oil is currently trading at US$ 103.18 per barrel.

 The US dollar is currently trading at 1.31 to the euro, 1.66 to the pound and will buy 104.15 Japanese Yen or 10.67 South African Rand.

International markets

U.S. stocks closed with modest gains Friday in light trading, building on weekly and monthly advances, as largely upbeat U.S. economic data offset overseas worries. European stock markets ended slightly higher on Friday, after having trimmed earlier gains as investors speculated whether lackluster euro-zone inflation data were weak enough to trigger more easing from the European Central Bank. Hong Kong stocks moved higher Monday morning after a brief loss in choppy opening trade, shrugging off two separate gauges of China’s manufacturing activity which both showed a slight slowing last month.

The S&P rose 6.63 points, or 0.3%, to close at 2 003.37 for its 32nd record close this year. The Dow Jones Industrial Average gained 18.88 points, or 0.1%, to end at 17 098.45. The Nasdaq Composite tacked on 22.58 points, or 0.5%, to 4 580.27.

The Stoxx Europe 600 index closed 0.3% higher at 342.00 and ended August up 1.8%. Germany’s DAX 30 index gained 0.1% to 9 470.17, for a 0.7% rise for all of August. France’s CAC 40 index climbed 0.3% to 4 381.04, and ended with a 3.2% monthly gain. The U.K.’s FTSE 100 index added 0.2% to 6 819.75.

The Hang Seng Index rose 0.5%. Over on the Chinese mainland, the Shanghai Composite Index also added 0.3%.

The US dollar is currently trading at 1.31 to the euro, 1.66 to the pound and will buy 104.15 Japanese Yen or 10.67 South African Rand.

Domestic markets

The benchmark JSE Top-40 index was down 0.46% at 45 630, bringing losses for the month to about 1.3%. The broader All-share index dipped 0.34% to 50 959.

Commodities

Spot gold is currently trading at US$ 1 285.80/oz. and platinum at US$ 1 423.40/oz. Brent crude oil is currently trading at US$ 103.18 per barrel.

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