Daily Financial Markets Report | Wednesday, 10 September 2014

new-web-logoDaily Financial Markets Report sources information from Business Day, Reuters, JSE Ltd and others.

Highlights

 S&P 500 suffered its steepest one-day decline in five weeks while the Nasdaq Composite dropped the most since 31 July. Broad-based losses were led by stocks from the telecom and utilities sectors. Germany markets index broke a seven-day winning streak on Tuesday, with shares of Deutsche Lufthansa and Munich Reinsurance Company pulling the benchmark lower. The rest of Europe was also trading in the red, building on losses from Monday when concerns over the outcome of the referendum on Scottish independence spooked investors. Hong Kong stocks fell significantly Wednesday morning following a losing session on Wall Street, as trading resumed after the Mid-Autumn Festival holiday.

 Spot gold is currently trading at US$ 1 246.80/oz. and platinum at US$ 1 387.70/oz. Brent crude oil is currently trading at US$ 99.34 per barrel.

 The US dollar is currently trading at 1.29 to the euro, 1.61 to the pound and will buy 106.40 Japanese Yen or 10.96 South African Rand.

International markets

S&P 500 suffered its steepest one-day decline in five weeks while the Nasdaq Composite dropped the most since 31 July. Broad-based losses were led by stocks from the telecom and utilities sectors. Germany markets index broke a seven-day winning streak on Tuesday, with shares of Deutsche Lufthansa and Munich Reinsurance Company pulling the benchmark lower. The rest of Europe was also trading in the red, building on losses from Monday when concerns over the outcome of the referendum on Scottish independence spooked investors. Hong Kong stocks fell significantly Wednesday morning following a losing session on Wall Street, as trading resumed after the Mid-Autumn Festival holiday.

The S&P 500 closed 13.1 points, or 0.7%, at 1 988.44. The Dow Jones Industrial Average dropped 97.55 points, or 0.6%, to 17 013.87. The Nasdaq Composite shed 40 points, or 0.9%, to 4 552.29.

The DAX fell 0.5% to close at 9 710.70, pulling back from its highest closing level since late July, which it reached on Monday. The U.K.’s FTSE 100 index moved 0.1% lower to 6 829.00, as investors continued to be wary about the Scottish independence vote. Elsewhere in Europe, the Stoxx Europe 600 index fell 0.4% to 344.87, for a third straight day in negative territory. France’s CAC 40 index gave up 0.5% to 4 452.37.

The Hang Seng Index dropped 1.2%. Over on the Chinese mainland, the Shanghai Composite Index retreated 0.7%.

The US dollar is currently trading at 1.29 to the euro, 1.61 to the pound and will buy 106.40 Japanese Yen or 10.96 South African Rand.

Domestic markets

The JSE Top-40 index was up 0.3% to R46 344 and the broader All-share index added 0.19% to 51 707.

Commodities

Spot gold is currently trading at US$ 1 246.80/oz. and platinum at US$ 1 387.70/oz. Brent crude oil is currently trading at US$ 99.34 per barrel.

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