Daily Financial Markets Report | Tuesday, 02 December 2014

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

Highlights

  • U.S. stocks fell on Monday as disappointing economic data from China and Europe triggered a bout of selling in global equity markets. European stocks fell Monday, with shares of miners struggling after soft economic data from China, and as oil stocks continue to grapple with a stunning slide in oil prices. Hong Kong stocks opened to a Tuesday session that was in many ways the exact opposite of Monday’s action.
  • Spot gold is currently trading at US$ 1 208.00/oz. and platinum at US$ 1 232.60/oz. Brent crude oil is currently trading at US$ 71.97 per barrel.
  • The US dollar is currently trading at 1.25 to the euro, 1.57 to the pound and will buy 118.44   Japanese Yen or 11.00 South African Rand.

International markets

U.S. stocks fell on Monday as disappointing economic data from China and Europe triggered a bout of selling in global equity markets. European stocks fell Monday, with shares of miners struggling after soft economic data from China, and as oil stocks continue to grapple with a stunning slide in oil prices. Hong Kong stocks opened to a Tuesday session that was in many ways the exact opposite of Monday’s action.

The S&P 500 and the Dow Jones Industrial saw their biggest one-day loss since Oct 22. The benchmark index fell 14.12 points, or 0.7%, to 2 053.44, while the Dow industrials lost 51.44 points, or 0.3%, to 17 776.8. The Nasdaq Composite’s decline was the biggest in seven weeks, after shedding 64.28 points, or 1.3%, to 4 727.35.

The Stoxx Europe 600 index fell 0.5% to 345.64. France’s CAC 40 index lost 0.3% to end at      4 377.33, while Germany’s DAX 30 fell 0.2% to 9 963.51. The U.K.’s FTSE 100 index declined 1% to 6 656.37.

The Hang Seng Index is up 0.7% and the Shanghai Composite Index is up 1.6%

The US dollar is currently trading at 1.25 to the euro, 1.57 to the pound and will buy 118.44   Japanese Yen or 11.00 South African Rand.

Domestic markets

The two major indices were also almost 4% weaker shortly after the opening, but by midday the All-share index recovered to 48 992, only 1.84% lower. By then the Top 40 index was only 1.84% weaker at 43 393.

Commodities

Spot gold is currently trading at US$ 1 208.00/oz. and platinum at US$ 1 232.60/oz. Brent crude oil is currently trading at US$ 71.97 per barrel.

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