Daily Financial Markets Report |Monday, 29 September 2014

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

Highlights

 U.S. stocks rebounded on Friday, recovering most of the previous session’s steep losses as Thursday’s rout inspired bargain hunters, with most of Friday’s broad-based gains led by energy and technology names. European stocks were mixed. Hong Kong stocks opened sharply lower Monday as pro-democracy demonstrations gripped the city following a confrontation with police over the weekend. The moves came at the start of a shortened week for both markets, as Hong Kong was due to close Wednesday and Thursday, while Shanghai was slated to shut those days along with Friday.

 Spot gold is currently trading at US$ 1 216.40/oz. and platinum at US$ 1 305.20/oz. Brent crude oil is currently trading at US$ 96.56 per barrel.

 The US dollar is currently trading at 1.26 to the euro, 1.62 to the pound and will buy 109.58 Japanese Yen or 11.27 South African Rand.

International markets

U.S. stocks rebounded on Friday, recovering most of the previous session’s steep losses as Thursday’s rout inspired bargain hunters, with most of Friday’s broad-based gains led by energy and technology names. European stocks were mixed. Hong Kong stocks opened sharply lower Monday as pro-democracy demonstrations gripped the city following a confrontation with police over the weekend. The moves came at the start of a shortened week for both markets, as Hong Kong was due to close Wednesday and Thursday, while Shanghai was slated to shut those days along with Friday.

The S&P 500 closed 16.86 points, or 0.9%, higher at 1 982.854, ending the week 1.4% lower. The Dow Jones Industrial Average jumped 167.35 points, or 1%, to 17 113.19, but rang up a weekly loss of 1%. The blue-chip index moved more than 100 points in each of the five sessions this week. The Nasdaq Composite gained 45.45 points, or 1%, to 4 512.19 but was 1.5% lower over the week.

The Stoxx Europe 600 index gained 0.3% to close at 342.30, although that wasn’t enough to send it into positive territory for the week. The pan-European benchmark posted a 1.8% weekly loss, following a week with lackluster German data and worries about Chinese growth. Across other indexes, France’s CAC 40 rose 0.9% to 4 394.75. The U.K.’s FTSE 100 rose 0.2% to 6 649.39, but closed out the week 2.8% lower. Germany’s DAX 30 index which is down 3.2% on the week, eased 0.2% to 9 490.55 on Friday.

The Hang Seng Index pulled back by 1.3%, and the mainland-China-tracking Hang Seng China Enterprises Index traded lower by 1.2%.

The US dollar is currently trading at 1.26 to the euro, 1.62 to the pound and will buy 109.58 Japanese Yen or 11.27 South African Rand.

Domestic markets

The Top-40 finished 0.37% higher at 44 507. The wider All-share index added 0.32% to 44 663.

Commodities

Spot gold is currently trading at US$ 1 216.40/oz. and platinum at US$ 1 305.20/oz. Brent crude oil is currently trading at US$ 96.56 per barrel.

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