Daily Financial Markets Report |Friday, 13 October 2014

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

Highlights

  • U.S. stock-index futures late Sunday pointed to more losses when Wall Street starts the week. Europe’s benchmark stock index posted its biggest weekly slide in more than two years on Friday, after a week marred by concerns about the health of Germany’s economy and broader weakness in the Eurozone. Hong Kong stocks opened lower Monday morning, extending their weakness seen at the end of last week.
  • Spot gold is currently trading at US$ 1 228.70/oz. and platinum at US$ 1 267.90/oz. Brent crude oil is currently trading at US$ 88.92 per barrel.
  • The US dollar is currently trading at 1.27 to the euro, 1.61 to the pound and will buy 107.18 Japanese Yen or 11.07 South African Rand.

International markets

U.S. stock-index futures late Sunday pointed to more losses when Wall Street starts the week. Europe’s benchmark stock index posted its biggest weekly slide in more than two years on Friday, after a week marred by concerns about the health of Germany’s economy and broader weakness in the Eurozone. Hong Kong stocks opened lower Monday morning, extending their weakness seen at the end of last week.

Stocks are coming off another rough week with the Dow Jones Industrial Average 0.69% off 2% to 16 544, the S&P 500 Index down 3% to 1 906, and the Nasdaq Composite Index sliding 4% to 4 276.

The Stoxx Europe 600 index fell 1.6% to 321.62, closing with a 4.1% weekly slide. That drop is the worst for a week since May 2012. Germany’s DAX 30 index DAX 2.4% to 8 788.81, for its lowest close since October last year. France’s CAC 40 index fell 1.6% to 4 073.71, deepening its weekly slide to 4.9%. The U.K.’s FTSE 100 index gave up 1.4% to 6 339.97, which is the lowest close in a year. For the week, the FTSE ended 2.9% lower.

The Hang Seng Index was down 0.6% at break; the Shanghai Composite Index down 1% at break.

The US dollar is currently trading at 1.27 to the euro, 1.61 to the pound and will buy 107.18 Japanese Yen or 11.07 South African Rand. 

Domestic markets

The benchmark Top-40 index slid 2.33% to 41 912 while the wider All-share index stumbled 2.16% to 47 092.

Commodities

Spot gold is currently trading at US$ 1 228.70/oz. and platinum at US$ 1 267.90/oz. Brent crude oil is currently trading at US$ 88.92 per barrel.

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