Daily Financial Markets Report | Friday, 12 December 2014

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

Highlights

 A rally in the U.S. stock market, sparked by robust consumer spending data on Thursday, fizzled out by the end of the session as indexes pulled back from session highs, prompted by a renewed slide in oil prices. European stocks finished flat Thursday after a roller-coaster ride of a session as Russian shares fell following an interest-rate hike by the Central Bank of Russia, while German issues climbed with support from a market upgrade. Hong Kong stocks rebounded modestly Friday morning.

 Spot gold is currently trading at US$ 1 221.90/oz. and platinum at US$ 1 238.60/oz. Brent crude oil is currently trading at US$ 63.55 per barrel.

 The US dollar is currently trading at 1.23 to the euro, 1.57 to the pound and will buy 118.95 Japanese Yen or 11.60 South African Rand.

International markets

A rally in the U.S. stock market, sparked by robust consumer spending data on Thursday, fizzled out by the end of the session as indexes pulled back from session highs, prompted by a renewed slide in oil prices. European stocks finished flat Thursday after a roller-coaster ride of a session as Russian shares fell following an interest-rate hike by the Central Bank of Russia, while German issues climbed with support from a market upgrade. Hong Kong stocks rebounded modestly Friday morning.

The Dow Jones Industrial Average rose as much as 216 points by mid-afternoon, but pulled back, ending the day with a gain of 63.19 points, or 0.4%, at 17 596.34. The S&P 500 index closed 8 points, or 0.4%, higher at 2 034. Energy sector stocks went from being up 2% to finish flat at the end. The Nasdaq Composite finished the day up 24.14 points, or 0.5%, at 4 708.16.

The Stoxx Europe 600 closed at 339.31, off less than 1 point. Germany’s DAX 30 ended 0.6% higher at 9 862.53. It saw an intraday gain of as much as 1.1%. France’s CAC 40 fell 0.5% to 4 225.86 and the U.K.’s FTSE 100 dropped 0.6% to 6 461.70.

The Hang Seng Index rose 0.4%, with the move coming ahead of China’s release of November industrial-output and retail-sales data. The Shanghai Composite Index drifting higher by 0.2% after heavy volatility earlier in the week.

The US dollar is currently trading at 1.23 to the euro, 1.57 to the pound and will buy 118.95 Japanese Yen or 11.60 South African Rand.

Domestic markets

The All-share index was only 0.36% down on 48 570 points and the Top 40-index lost 0.44% to 42 975 points.

Commodities

Spot gold is currently trading at US$ 1 221.90/oz. and platinum at US$ 1 238.60/oz. Brent crude oil is currently trading at US$ 63.55 per barrel.

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