Daily Financial Markets Report | Friday, 26 September 2014

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

Highlights

 Spot gold is currently trading at US$ 1 221.20/oz. and platinum at US$ 1 313.00/oz. Brent crude oil is currently trading at US$ 96.97 per barrel.

 The US dollar is currently trading at 1.27 to the euro, 1.62 to the pound and will buy 109.03 Japanese Yen or 11.21 South African Rand.

 U.S. stocks slumped Thursday, led by the tech sector, slapping the major benchmarks with their biggest one-day loss in almost two months. European stock markets erased earlier gains on Thursday afternoon, hit by a slide in U.S. stocks after the opening bell. Asian stocks fell Friday, with Tokyo shares dropping sharply after a selloff in global markets and Australia’s benchmark index wiping out its gains for the year.

International markets

U.S. stocks slumped Thursday, led by the tech sector, slapping the major benchmarks with their biggest one-day loss in almost two months. European stock markets erased earlier gains on Thursday afternoon, hit by a slide in U.S. stocks after the opening bell. Asian stocks fell Friday, with Tokyo shares dropping sharply after a selloff in global markets and Australia’s benchmark index wiping out its gains for the year.

The S&P slid 32.31 points, or 1.6%, to finish at 1 965.99. All S&P sectors endured losses. The Dow Jones Industrial Average also took a hit, falling 264.26 points, or 1.5%, to close at 16 945.80. The technology sector was a particularly hard-hit area, faring worst among S&P sectors, and the tech-heavy Nasdaq Composite declining by 88.47 points, or 1.9%, to end at 4 466.75.

The Stoxx Europe 600 index lost 0.9% to end at 341.44, after trading as high as 346.04 earlier in the day. Germany’s DAX 30 index dropped 1.6% to 9 510.01, while France’s CAC 40 index gave up 1.3% to 4 355.28. The U.K.’s FTSE 100 index fell 1% to 6 639.71

The benchmark Nikkei Stock Average was down 1.3% and the S&P/ASX 200 lost more than 1.0% to 5326.5. Hong Kong’s Hang Seng Index was also down 0.7% as scepticism builds over China’s targeted stimulus efforts. The Hang Seng is on track for its third straight week of losses.

The US dollar is currently trading at 1.27 to the euro, 1.62 to the pound and will buy 109.03 Japanese Yen or 11.21 South African Rand.

Domestic markets

The JSE Top-40 index lost 1.18% to 44 345, a level last seen at the beginning of June. The broader All-share index was off 1.1% to 49 503.

Commodities

Spot gold is currently trading at US$ 1 221.20/oz. and platinum at US$ 1 313.00/oz. Brent crude oil is currently trading at US$ 96.97 per barrel.

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