Daily Financial Markets Report | Monday, 15 September 2014

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

Highlights

 The U.S. stock market closed lower on Friday as rising Treasury yields and the prospect of next week’s Fed rate meeting made investors cautious. The S&P 500 retreated from record high levels throughout the week amid speculation that the Federal Reserve may signal the arrival of interest-rate increases sooner than expected. Europe’s benchmark stock index recorded its first weekly loss in five weeks Friday, reflecting concerns that Scotland could vote to leave the United Kingdom next week. Hong Kong stocks remained mired in weakness Monday, heading toward a seventh straight loss.

 Spot gold is currently trading at US$ 1 226.70/oz. and platinum at US$ 1 370.90/oz. Brent crude oil is currently trading at US$ 96.27 per barrel.

 The US dollar is currently trading at 1.29 to the euro, 1.62 to the pound and will buy 107.21 Japanese Yen or 11.05 South African Rand.

International markets

The U.S. stock market closed lower on Friday as rising Treasury yields and the prospect of next week’s Fed rate meeting made investors cautious. The S&P 500 retreated from record high levels throughout the week amid speculation that the Federal Reserve may signal the arrival of interest-rate increases sooner than expected. Europe’s benchmark stock index recorded its first weekly loss in five weeks Friday, reflecting concerns that Scotland could vote to leave the United Kingdom next week. Hong Kong stocks remained mired in weakness Monday, heading toward a seventh straight loss.

The S&P 500 closed 12 points, or 0.6%, lower at 1 985.55, as utilities and energy-sector stocks led losses. The Dow industrials dropped 61.49 points, or 0.4%, to 16 987.51. The Nasdaq Composite fell 24 points, or 0.5%, to 4 567.60.

The Stoxx Europe 600 index fell 0.2% to 344.10, marking the worst week since early August with a 1% slide. The index was still up 4.66% month-to-date. The U.K.’s FTSE 100 index fell 0.1% to 6 799.60, erasing earlier gains, as U.K. investors remain jittery ahead of a referendum for Scottish independence scheduled for next week. Germany’s DAX 30 index fell 0.5% to 9 644.20. France’s CAC 40 index was slightly lower at 4 438.10.

The Hang Seng Index dropped 0.9%. Over on the Chinese mainland, the Shanghai Composite Index moved down 0.3%.

The US dollar is currently trading at 1.29 to the euro, 1.62 to the pound and will buy 107.21 Japanese Yen or 11.05 South African Rand.

Domestic markets

The All-share index ended the day up 0.03% to 51 247 while the Top-40 index added 0.08%.

Commodities

Spot gold is currently trading at US$ 1 226.70/oz. and platinum at US$ 1 370.90/oz. Brent crude oil is currently trading at US$ 96.27 per barrel.

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