Daily Financial Markets Report | Thursday, 18 September 2014

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

Highlights

 The U.S. stock market closed slightly higher Wednesday, with the Dow Jones Industrial Average reaching a record high. The main benchmarks swung higher after the Fed meeting and Fed Chairwoman Janet Yellen’s news conference but trimmed gains by the end of the session. European shares bounced back on Wednesday, buoyed by a rise in U.S. stocks ahead of the Federal Reserve commentary, and by targeted economic stimulus measures in China. Hong Kong stocks pulled back on Thursday after a rebound a day earlier, as new reports said the previously tipped $81 billion stimulus from China’s central bank is still pending approval as banks prepare the relevant materials.

 Spot gold is currently trading at US$ 1 216.20/oz. and platinum at US$ 1 348.50/oz. Brent crude oil is currently trading at US$ 98.35 per barrel.

 The US dollar is currently trading at 1.28 to the euro, 1.62 to the pound and will buy 108.76 Japanese Yen or 11.05 South African Rand.

International markets

The U.S. stock market closed slightly higher Wednesday, with the Dow Jones Industrial Average reaching a record high. The main benchmarks swung higher after the Fed meeting and Fed Chairwoman Janet Yellen’s news conference but trimmed gains by the end of the session. European shares bounced back on Wednesday, buoyed by a rise in U.S. stocks ahead of the Federal Reserve commentary, and by targeted economic stimulus measures in China. Hong Kong stocks pulled back on Thursday after a rebound a day earlier, as new reports said the previously tipped $81 billion stimulus from China’s central bank is still pending approval as banks prepare the relevant materials.

The S&P 500 rose 2.59 points, or 0.1 to 2 001.57. The Dow Jones Industrial Average added 24.88 points, or 0.2% to 17 156.85. The Nasdaq Composite gained 9.43 points, or 0.2%, to 4 562.19.

In Europe, the Stoxx Europe 600 added 0.5% to close at 344.39 following two consecutive days of losses. Germany’s DAX 30 added 0.3% to 9 661.50, while France’s CAC 40 picked up 0.5% to 4 431.41. London’s FTSE 100 closed 0.2% lower on the day at 6 780.90, with some volatility and tensions ahead of Thursday’s Scottish referendum.

The Hang Seng Index fell 1%, giving up all the gains made in Wednesday trade when the index recovered from an eight-day losing streak. Over on the Chinese mainland, the Shanghai Composite Index inched down 0.1%.

The US dollar is currently trading at 1.28 to the euro, 1.62 to the pound and will buy 108.76 Japanese Yen or 11.05 South African Rand.

Domestic markets

Johannesburg’s Top-40 index gave up 0.15% to 45 814 and the wider All-share was little changed at 51 173.

Commodities

Spot gold is currently trading at US$ 1 216.20/oz. and platinum at US$ 1 348.50/oz. Brent crude oil is currently trading at US$ 98.35 per barrel.

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