Daily Financial Markets Report | Tuesday, 16 September 2014

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

Highlights

 U.S. stocks closed mostly lower on Monday with losses led by technology and small-cap stocks as investors continued to unload riskier position ahead of this week’s pivotal Federal Reserve policy meeting. The speculation that the central bank may adopt a more hawkish tone in its statement after the two-day meeting on Wednesday had been weighing on stock prices since the beginning of the month. European shares edged lower Monday, burdened by Chinese industrial production growth slowing to a level last seen during the thick of the global financial crisis nearly six years ago. The morning trading session for Hong Kong markets has been cancelled due to rough weather caused by Typhoon Kalmaegi.

 Spot gold is currently trading at US$ 1 233.60/oz. and platinum at US$ 1 367.40/oz. Brent crude oil is currently trading at US$ 97.93 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 10.98 South African Rand.

International markets

U.S. stocks closed mostly lower on Monday with losses led by technology and small-cap stocks as investors continued to unload riskier position ahead of this week’s pivotal Federal Reserve policy meeting. The speculation that the central bank may adopt a more hawkish tone in its statement after the two-day meeting on Wednesday had been weighing on stock prices since the beginning of the month. European shares edged lower Monday, burdened by Chinese industrial production growth slowing to a level last seen during the thick of the global financial crisis nearly six years ago. The morning trading session for Hong Kong markets has been cancelled due to rough weather caused by Typhoon Kalmaegi.

The S&P 500 ended 1.4 point lower at 1 984.13. The Nasdaq Composite fell 48.70 points, or 1%, to 4 518.90. The Dow Jones Industrial Average defied the general trend and finished up 43.63 points, or 0.3%, at 17 031.14.

The Stoxx Europe 600 was down 0.2% by mid-morning, with declines on the U.K’s FTSE 100 to 6 804.21 and France’s CAC 40 even more pronounced. Germany’s DAX 30 was steady on the day.

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 10.98 South African Rand.

Domestic markets

The Top-40 index closed at 46 032, up 0.36%, while the All-Share rose 0.25% to 51 377.

Commodities

Spot gold is currently trading at US$ 1 233.60/oz. and platinum at US$ 1 367.40/oz. Brent crude oil is currently trading at US$ 97.93 per barrel.

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