Daily Financial Markets Report |Friday, 19 September 2014

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

Highlights

 The S&P 500 and Dow Jones Industrial Average closed at record levels on Thursday as investors welcomed the Federal Reserve’s commitment to low interest rates long after the ending of monetary stimulus. European stock markets moved sharply higher on Thursday, supported by low-rate reassurance from the U.S. Federal Reserve and hopes for a quantitative-easing program in the Eurozone. Hong Kong stocks followed a strong lead from the U.S. overnight and opened higher on Friday,

 Spot gold is currently trading at US$ 1 225.70/oz. and platinum at US$ 1 350.90/oz. Brent crude oil is currently trading at US$ 97.50 per barrel.

 The US dollar is currently trading at 1.29 to the euro, 1.64 to the pound and will buy 109.12 Japanese Yen or 11.08 South African Rand.

International markets

The S&P 500 and Dow Jones Industrial Average closed at record levels on Thursday as investors welcomed the Federal Reserve’s commitment to low interest rates long after the ending of monetary stimulus. European stock markets moved sharply higher on Thursday, supported by low-rate reassurance from the U.S. Federal Reserve and hopes for a quantitative-easing program in the Eurozone. Hong Kong stocks followed a strong lead from the U.S. overnight and opened higher on Friday,

The S&P 500 added 9.79 points, or 0.5%, to 2 011.36, closing at a record high. Financials led Thursday’s gains. The Dow Jones Industrial Average gained 109.14 points, or 0.6%, to 17 265.99, also setting a new record. The Nasdaq Composite rose 31.24 points, or 0.7%, to 4 593.43.

The pan-European Stoxx Europe 600 index advanced 1% to 347.78, its highest close in early September. France’s CAC 40 index picked up 0.8% to 4 464.70. Germany’s DAX 30 index jumped 1.4% to 9 798.13. The FTSE 100 index rose 0.6% to close at 6 819.29, after closing down 0.2% on Wednesday for its third-straight losing session.

The Hang Seng Index was up 0.1%. The Shanghai Composite Index was flat.

The US dollar is currently trading at 1.29 to the euro, 1.64 to the pound and will buy 109.12 Japanese Yen or 11.08 South African Rand.

Domestic markets

The blue-chip JSE Top-40 index was up 0.9% at 46 226 and the broader All-share index gained 0.7% to 51 547.

Commodities

Spot gold is currently trading at US$ 1 225.70/oz. and platinum at US$ 1 350.90/oz. Brent crude oil is currently trading at US$ 97.50 per barrel.

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