Daily Financial Markets Report | Thursday, 25 September 2014

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

Highlights

 U.S. stocks rallied on Wednesday, with the S&P 500 and Dow Jones Industrial Average recording their best one-day percentage gain in more than 5 weeks. The rebound snapped a 3-day losing streak that has been blamed in part on worries about global growth and fighting in Iraq and Syria. A stronger-than-expected report on new-home sales and dovish comments from two Federal Reserve officials, may have contributed to gains. European stocks jumped on Wednesday after German business confidence hit its lowest level in more than a year, offering markets a reason to believe the European Central Bank may take more aggressive steps to invigorate the sluggish eurozone economy. Hong Kong stocks rose further on Wednesday morning, tracking gains in the U.S. overnight.

 Spot gold is currently trading at US$ 1 218.60/oz. and platinum at US$ 1 303.50/oz. Brent crude oil is currently trading at US$ 96.75 per barrel.

 The US dollar is currently trading at 1.27 to the euro, 1.63 to the pound and will buy 109.16 Japanese Yen or 11.16 South African Rand.

International markets

U.S. stocks rallied on Wednesday, with the S&P 500 and Dow Jones Industrial Average recording their best one-day percentage gain in more than 5 weeks. The rebound snapped a 3-day losing streak that has been blamed in part on worries about global growth and fighting in Iraq and Syria. A stronger-than-expected report on new-home sales and dovish comments from two Federal Reserve officials, may have contributed to gains. European stocks jumped on Wednesday after German business confidence hit its lowest level in more than a year, offering markets a reason to believe the European Central Bank may take more aggressive steps to invigorate the sluggish eurozone economy. Hong Kong stocks rose further on Wednesday morning, tracking gains in the U.S. overnight.

The S&P 500 gained 15.63 points, or 0.9%, to 1 998.38. Broad-based gains were led by health care and consumer staples sectors. The Dow Jones Industrial Average gained 155.02 points, or 0.9%, to 17 210.89, recovering some of the steep losses from the previous two sessions. Meanwhile, the tech-heavy Nasdaq Composite added 46.53 points, or 1.03%, to 4 555.22,

The Stoxx Europe 600 index rising 0.7% to close at 344.35. Germany’s DAX 30 index climbed 0.7% to 9 661.97. The U.K.’s FTSE 100 index added 0.5% to 6 706.27, while France’s CAC 40 index picked up 1.3% to 4 413.72.

The Hang Seng Index headed 0.4% higher. Over on the Chinese mainland, the Shanghai Composite Index improved by 0.4%.

The US dollar is currently trading at 1.27 to the euro, 1.63 to the pound and will buy 109.16 Japanese Yen or 11.16 South African Rand.

Domestic markets

The JSE Top-40 index lost 0.8% to 44 873 and the broader All-share index was down by the same margin at 50 054.

Commodities

Spot gold is currently trading at US$ 1 218.60/oz. and platinum at US$ 1 303.50/oz. Brent crude oil is currently trading at US$ 96.75 per barrel.

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