Daily Financial Markets Report | Wednesday, 3 September 2014

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

Highlights

 U.S. stocks mostly pulled back Tuesday, as the S&P 500 lost a little steam after achieving a record close on Friday. A reading on U.S. manufacturing topped expectations but didn’t spark an advance, with the stock market instead starting off September on a down note. European stocks slipped Tuesday, with investors moving cautiously as they wait for definitive word on whether the European Central Bank will approve a new round of monetary stimulus. Hong Kong stocks headed higher Wednesday morning after two separate measures of China’s services activity showed improvement last month.

 Spot gold is currently trading at US$ 1 265.50/oz. and platinum at US$ 1 412.50/oz. Brent crude oil is currently trading at US$ 100.66 per barrel.

 The US dollar is currently trading at 1.31 to the euro, 1.64 to the pound and will buy 105.17 Japanese Yen or 10.74 South African Rand.

International markets

U.S. stocks mostly pulled back Tuesday, as the S&P 500 lost a little steam after achieving a record close on Friday. A reading on U.S. manufacturing topped expectations but didn’t spark an advance, with the stock market instead starting off September on a down note. European stocks slipped Tuesday, with investors moving cautiously as they wait for definitive word on whether the European Central Bank will approve a new round of monetary stimulus. Hong Kong stocks headed higher Wednesday morning after two separate measures of China’s services activity showed improvement last month.

The S&P 500 edged down 1.09 points, or less than 0.1%, to 2 002.28. The Dow Jones Industrial Average fell 30.89 points, or 0.2%, to 17 067.56, while the Nasdaq Composite gained 17.92 points, or 0.4%, to 4 598.19.

The Stoxx Europe 600 index closed up less than 1 point at 342.75, but had been up by as much as 0.6% intraday. The benchmark had notched gains over the past two sessions. Indexes on a country-specific basis were volatile Tuesday, leaving Germany’s DAX 30 index with a rise of 0.3% at 9 507.02, while France’s CAC 40 shed 0.1% at 4 376.01. The U.K.’s FTSE 100 edged up 0.1% to 6 829.17.

The Hang Seng Index popped up 0.9%, with several top-weighted stocks stronger. Over on the mainland, the Shanghai Composite Index picked up 0.7%.

The US dollar is currently trading at 1.31 to the euro, 1.64 to the pound and will buy 105.17 Japanese Yen or 10.74 South African Rand.

Domestic markets

The Top-40 index and the All-share, were up 0.7% to 46 076 and 51 462 respectively.

Commodities

Spot gold is currently trading at US$ 1 265.50/oz. and platinum at US$ 1 412.50/oz. Brent crude oil is currently trading at US$ 100.66 per barrel.

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