Daily Financial Markets Report | Tuesday, 2 September 2014

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

Highlights

 European markets sloughed off losses Monday in a seesaw trading session during which Russia’s foreign minister said Moscow will defend the economy if it comes up against another round of sanctions related to the conflict in Ukraine. Trading volumes in European markets were lighter than usual, with U.S. markets closed for the Labor Day holiday. Hong Kong stocks headed lower Tuesday morning, with mainland Chinese banks as the main drag on the market.

 Spot gold is currently trading at US$ 1 281.10/oz. and platinum at US$ 1 424.90/oz. Brent crude oil is currently trading at US$ 102.72 per barrel.

 The US dollar is currently trading at 1.31 to the euro, 1.65 to the pound and will buy 104.82 Japanese Yen or 10.70 South African Rand.

International markets

European markets sloughed off losses Monday in a seesaw trading session during which Russia’s foreign minister said Moscow will defend the economy if it comes up against another round of sanctions related to the conflict in Ukraine. Trading volumes in European markets were lighter than usual, with U.S. markets closed for the Labor Day holiday. Hong Kong stocks headed lower Tuesday morning, with mainland Chinese banks as the main drag on the market.

The Stoxx Europe 600 had turned lower after Lavrov’s remarks about sanctions, but then bounced back to end with a gain of 0.3% at 342.86. Germany’s DAX 30 index had been lower as well, but ended the day up 0.1% at 9 479.03. France’s CAC 40 index fell less than 2 points to 4 379.73. The U.K.’s FTSE 100 closed up 0.1% at 6 825.31.

The Hang Seng Index fell 0.4%. Over on the Chinese mainland, the Shanghai Composite Index ticked up 0.1%.

The US dollar is currently trading at 1.31 to the euro, 1.65 to the pound and will buy 104.82 Japanese Yen or 10.70 South African Rand.

Domestic markets

The benchmark Top-40 index finished up 0.27%t at 45 752, while the broad All-Share index added 0.3% to 51 113.

Commodities

Spot gold is currently trading at US$ 1 281.10/oz. and platinum at US$ 1 424.90/oz. Brent crude oil is currently trading at US$ 102.72 per barrel.

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