Daily Financial Markets Report | Tuesday, 14 October 2014

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

Highlights

 The U.S. stock market ended Monday’s volatile session sharply lower as selling intensified at the last hour. Volatile trading came on the heels of last week’s deep losses that had been triggered by global economic growth concerns. European stocks slipped Monday, extending a run of declines stemming from concerns about stagnant growth in the eurozone. Hong Kong stocks reversed their opening losses and nudged higher Tuesday morning despite overnight weakness in the U.S. markets.

 Spot gold is currently trading at US$ 1 235.90/oz. and platinum at US$ 1 276.50/oz. Brent crude oil is currently trading at US$ 88.19 per barrel.

 The US dollar is currently trading at 1.27 to the euro, 1.60 to the pound and will buy 107.07 Japanese Yen or 11.03 South African Rand.

International markets

The U.S. stock market ended Monday’s volatile session sharply lower as selling intensified at the last hour. Volatile trading came on the heels of last week’s deep losses that had been triggered by global economic growth concerns. European stocks slipped Monday, extending a run of declines stemming from concerns about stagnant growth in the eurozone. Hong Kong stocks reversed their opening losses and nudged higher Tuesday morning despite overnight weakness in the U.S. markets.

The S&P 500 closed down 31.39 points, or 1.6%, to 1 874.74. The Dow Jones Industrial Average dropped 223 points, or 1.3%, to 16 321.07. The blue-chip index turned negative for the year on Friday and is now down 1.5% year-to-date. The Nasdaq Composite dropped 62.58 points, or 1.5%, to 4 213.66.

The Stoxx Europe 600 index ended down 0.1% at 321.56 after spending much of the session in higher territory. In France, the CAC 40 rose 0.1% to 4 078.70, and Germany’s DAX 40 gained 0.3% to 8 812.43. The FTSE 100 index ended 0.4% higher at 6 366.24.

The Hang Seng Index rose 0.5% after briefly trading in negative territory in initial trades. Over on the mainland, the Shanghai Composite Index inched up 0.1%.

The US dollar is currently trading at 1.27 to the euro, 1.60 to the pound and will buy 107.07 Japanese Yen or 11.03 South African Rand.

Domestic markets

The benchmark Top-40 index added 0.64% to 42 181 while the All-share index climbed 0.59% to 47 368.

Commodities

Spot gold is currently trading at US$ 1 235.90/oz. and platinum at US$ 1 276.50/oz. Brent crude oil is currently trading at US$ 88.19 per barrel.

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