Daily Financial Markets Report | Monday, 20 October 2014

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

Highlights

 Following steep losses and massive intraday swings over the past five days, the U.S. stock market wrapped up the week on a relative high note, with the key benchmarks registering more than 1% gains on Friday. European stocks surged Friday, with the Stoxx Europe 600 breaking its longest losing streak in more than a decade, but the benchmark still fell for the week in which heightened fears about slowing global growth led investors to flee equities worldwide. Hong Kong stocks joined the rest of Asia in solid gains early Monday.

 Spot gold is currently trading at US$ 1 236.80/oz. and platinum at US$ 1 269.60/oz. Brent crude oil is currently trading at US$ 86.32 per barrel.

 The US dollar is currently trading at 1.27 to the euro, 1.61 to the pound and will buy 107.24 Japanese Yen or 11.09 South African Rand.

International markets

Following steep losses and massive intraday swings over the past five days, the U.S. stock market wrapped up the week on a relative high note, with the key benchmarks registering more than 1% gains on Friday. European stocks surged Friday, with the Stoxx Europe 600 breaking its longest losing streak in more than a decade, but the benchmark still fell for the week in which heightened fears about slowing global growth led investors to flee equities worldwide. Hong Kong stocks joined the rest of Asia in solid gains early Monday.

The S&P 500 gained 24 points, or 1.3%, to 1 886.76, led by gains in industrials and health care sectors. The Dow Jones Industrial Average jumped 263.17 points, or 1.6%, to 16 380.41. The Nasdaq Composite rose 41.05 points, or 1%, to 4 258.44

The Stoxx Europe 600 ended up 2.8% at 318.68, its first win in nine sessions. The Germany’s DAX 30 DAX jumped 3.1% to 8 850.27. France’s CAC 40 finished up 2.9% at 4 033.18, and the U.K.’s FTSE 100 rose 1.9% to 6 310.29. For the week, the CAC fell 2.6% and the FTSE 100 shed 0.5%

The Hang Seng Index was up 0.4% .The Shanghai Composite Index was up 0.3%.

The US dollar is currently trading at 1.27 to the euro, 1.61 to the pound and will buy 107.24 Japanese Yen or 11.09 South African Rand.

Domestic markets

The benchmark JSE Top-40 index rallied 2.2% to 42 735, its biggest daily percentage gain since September last year. The broader All-share index rose 2% to 47 821

Commodities

Spot gold is currently trading at US$ 1 236.80/oz. and platinum at US$ 1 269.60/oz. Brent crude oil is currently trading at US$ 86.32 per barrel.

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