Daily Financial Markets Report | Wednesday, 26 November 2014

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

Highlights

 U.S. stocks traded in a narrow range, dipping in and out of negative territory after a variety of economic data highlighted by a surprise dip in consumer confidence. Trading volumes were thinning as many U.S. investors prepared for travel ahead of Thanksgiving on Thursday. European stocks rose Tuesday, with German equities extending gains after data confirmed modest quarterly growth for the Eurozone’s largest economy. Hong Kong stocks struggled to stage a rebound Wednesday morning after a previous retreat, as banks added to their gains on the back of a recent interest-rate cut by China’s central bank, but energy stocks posted heavy losses after international crude-oil prices fell sharply.

 Spot gold is currently trading at US$1 199.10/oz. and platinum at US$ 1 223.50/oz. Brent crude oil is currently trading at US$ 78.36 per barrel.

 The US dollar is currently trading at 1.24 to the euro, 1.57 to the pound and will buy 117.71 Japanese Yen and 10.95 South African Rand.

International markets

U.S. stocks traded in a narrow range, dipping in and out of negative territory after a variety of economic data highlighted by a surprise dip in consumer confidence. Trading volumes were thinning as many U.S. investors prepared for travel ahead of Thanksgiving on Thursday. European stocks rose Tuesday, with German equities extending gains after data confirmed modest quarterly growth for the Eurozone’s largest economy. Hong Kong stocks struggled to stage a rebound Wednesday morning after a previous retreat, as banks added to their gains on the back of a recent interest-rate cut by China’s central bank, but energy stocks posted heavy losses after international crude-oil prices fell sharply.

The S&P 500 set an intraday high, but closed 2.37 points, or 0.1%, lower at 2 067.04. The Dow Jones Industrial Average slipped 3 points to 17 814.94. The Nasdaq Composite ended the day up 3.4 points, or 0.1%, at 4 758.25.

Germany’s DAX 30 index climbed 1% to 6 880.21. The Stoxx Europe 600 rose 0.4% to 347.09. The U.K.’s FTSE 100 edged up 0.2% to 6 743.52. In Paris, the CAC 40 index rose 0.6% to 4 396.16.

The Hang Seng Index inched up 0.1% after swinging between gains and losses. Over on the mainland, the Shanghai Composite Index rose 0.8%.

The US dollar is currently trading at 1.24 to the euro, 1.57 to the pound and will buy 117.71 Japanese Yen and 10.95 South African Rand.

Domestic markets

The JSE Top-40 index was down 0.38% at 44 909 and the broader All-share index was off 0.43% at 50 507.

Commodities

Spot gold is currently trading at US$1 199.10/oz. and platinum at US$ 1 223.50/oz. Brent crude oil is currently trading at US$ 78.36 per barrel.

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