Daily Financial Markets Report | Tuesday, 9 December 2014

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

Highlights

 U.S. stocks suffered their biggest one-day slide in nearly seven weeks on Monday as a withering selloff among energy companies, which closely tracked oil’s continued price slide, dragged down key benchmark indexes. European stocks fell Monday, with poor data from Asia and bleak comments about the Eurozone prompting investors to push the equity market away from multiyear highs. Hong Kong stocks declined Tuesday morning, with energy shares as a main drag on the back of plunging international crude-oil prices.

 Spot gold is currently trading at US$ 1 202.90/oz. and platinum at US$ 1 228.80/oz. Brent crude oil is currently trading at US$ 65.65 per barrel.

 The US dollar is currently trading at 1.23 to the euro, 1.56 to the pound and will buy 120.00 Japanese Yen or 11.55 South African Rand.

International markets

U.S. stocks suffered their biggest one-day slide in nearly seven weeks on Monday as a withering selloff among energy companies, which closely tracked oil’s continued price slide, dragged down key benchmark indexes. European stocks fell Monday, with poor data from Asia and bleak comments about the Eurozone prompting investors to push the equity market away from multiyear highs. Hong Kong stocks declined Tuesday morning, with energy shares as a main drag on the back of plunging international crude-oil prices.

The S&P 500 closed 15 points lower, or 0.75, at 2 060.31. Losses were led by energy companies, as the sector dropped 3.9%. The Dow Jones Industrial Average dropped as much as 150 points at session lows, but ended 106.31 points, or 0.6% lower, at 17 852.48. The tech-heavy Nasdaq Composite ended the day with a loss of 40 points, or 0.8%, at 4 740.69.

The Stoxx Europe 600 declined 0.7% to 348.61, with all sectors finishing in the red. In Paris, the CAC 40 declined 1% to 4 375.48, while the U.K.’s FTSE 100 fell 1.1% to 6 672.15.

The Hang Seng Index retreated 0.9%. Over on the Chinese mainland, the Shanghai Composite Index gave up 0.9% after a 2.8% gain on Monday.

The US dollar is currently trading at 1.23 to the euro, 1.56 to the pound and will buy 120.00 Japanese Yen or 11.55 South African Rand.

Domestic markets

The blue-chip JSE Top-40 index gained 0.22% to 43 972 and the broader All-Share index edged up 0.17% to 49 590.

Commodities

Spot gold is currently trading at US$ 1 202.90/oz. and platinum at US$ 1 228.80/oz. Brent crude oil is currently trading at US$ 65.65 per barrel.

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