Daily Financial Markets Report | Friday, 5 September 2014

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

Highlights

 The optimism that sent U.S. indexes to new intraday highs after the European Central Bank’s surprise interest-rate cuts Thursday had fizzled out by the end of the session, as indexes dipped into the red. European stocks rallied, but the euro sank to a more than one-year low Thursday. Hong Kong stocks headed lower Friday morning after flirting with gains at the open.

 Spot gold is currently trading at US$ 1 263.20/oz. and platinum at US$ 1 408.20/oz. Brent crude oil is currently trading at US$ 101.80 per barrel.

 The US dollar is currently trading at 1.29 to the euro, 1.63 to the pound and will buy 105.32 Japanese Yen or 10.73 South African Rand.

International markets

The optimism that sent U.S. indexes to new intraday highs after the European Central Bank’s surprise interest-rate cuts Thursday had fizzled out by the end of the session, as indexes dipped into the red. European stocks rallied, but the euro sank to a more than one-year low Thursday. Hong Kong stocks headed lower Friday morning after flirting with gains at the open.

The S&P 500 lost 3 points, or 0.2% to 1 997.60. The Dow Jones Industrial Average closed down 8.8 points, or 0.1%, at 17 069. The Nasdaq Composite fell 10.3 points, or 0.2%, to 4 562.20.

The Stoxx Europe 600 rose 1.1% to 348.89, touching intraday highs after the ECB announcements. Germany’s DAX 30 index rose 1% to 9 724.26. France’s CAC 40 rose 1.7% to 4 494.94. The FTSE 100 closed up 0.1% at 6 877.97.

The Hang Seng Index dropped 0.3%. Over on the Chinese mainland, the Shanghai Composite edged up 0.2%.

The US dollar is currently trading at 1.29 to the euro, 1.63 to the pound and will buy 105.32 Japanese Yen or 10.73 South African Rand.

Domestic markets

The JSE Top-40 index gained 0.62% to 46 674 and the broader All-share index was up 0.56% at 52 081.

Commodities

Spot gold is currently trading at US$ 1 263.20/oz. and platinum at US$ 1 408.20/oz. Brent crude oil is currently trading at US$ 101.80 per barrel.

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