Daily Financial Markets Report | Wednesday, 17 September 2014

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

Highlights

 The U.S. equity market ended Tuesday’s session higher, sending the Dow Jones Industrial Average to an intraday record high, while the S&P 500 recorded its biggest one-day gain in 4 weeks. European stocks declined Tuesday, with investors facing uncertainty from the U.S. Federal Reserve’s outlook on interest rates and the implications for European markets. Adding to the mix of unknowns was what lies ahead for the U.K. after Scotland votes on the issue of independence on Thursday. Hong Kong stocks clawed back some losses Wednesday following an eight-day losing streak, after China’s central bank injected about $81 billion into the country’s five major banks to support growth and ease fears triggered by a slew of weaker-than-expected data released recently.

 Spot gold is currently trading at US$ 1 235.20/oz. and platinum at US$ 1 369.40/oz. Brent crude oil is currently trading at US$ 98.88 per barrel.

 The US dollar is currently trading at 1.29 to the euro, 1.62 to the pound and will buy 107.20 Japanese Yen or 10.91 South African Rand.

International markets

The U.S. equity market ended Tuesday’s session higher, sending the Dow Jones Industrial Average to an intraday record high, while the S&P 500 recorded its biggest one-day gain in 4 weeks. European stocks declined Tuesday, with investors facing uncertainty from the U.S. Federal Reserve’s outlook on interest rates and the implications for European markets. Adding to the mix of unknowns was what lies ahead for the U.K. after Scotland votes on the issue of independence on Thursday. Hong Kong stocks clawed back some losses Wednesday following an eight-day losing streak, after China’s central bank injected about $81 billion into the country’s five major banks to support growth and ease fears triggered by a slew of weaker-than-expected data released recently.

The S&P 500 rallied 14.85 points, or 0.8%, to 1 998.98, as energy and health-care sector stocks led broad-based gains. The Dow Jones Industrial Average rose 100.83 points, or 0.6%, to 17 131.97, after briefly touching an intraday record high. The Nasdaq Composite added 33.86 points, or 0.8%, to 4 552.76.

The Stoxx Europe 600 ended down 0.3% at 342.84. Germany’s DAX 30 closed down 0.3% at 9 632.93. In Paris, the CAC 40 shed 0.4% to 4 409.15. In London, the FTSE 100 fell 0.2% to 6 792.24, holding to losses after an unexpected decline in inflation in August.

The Hang Seng Index recovered 1.1% as mainland Chinese banks advanced broadly. Over on the Chinese mainland, the Shanghai Composite Index inched down 0.1%.

The US dollar is currently trading at 1.29 to the euro, 1.62 to the pound and will buy 107.20 Japanese Yen or 10.91 South African Rand.

Domestic markets

The JSE Top-40 index was down 0.3% at 45 884 points and the broader All-share index fell 0.4% to 51 178.

Commodities

Spot gold is currently trading at US$ 1 235.20/oz. and platinum at US$ 1 369.40/oz. Brent crude oil is currently trading at US$ 98.88 per barrel.

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