Daily Financial Markets Report | Wednesday, 07 January 2015

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

Highlights

 The U.S. stock market endured another day of selling due to slumping oil prices on Tuesday, with the Dow industrials recording its worst start to a new year the 2008 financial crisis. European stocks fell Tuesday, marking a third-consecutive decline for regional markets. Hong Kong stocks appeared headed toward a third straight day of losses, as regional weakness persisted after the U.S. markets extended their five-day losing streak overnight.

 Spot gold is currently trading at US$ 1 214.90 /oz. and platinum at US$ 1,219.20/oz. Brent crude oil is currently trading at US$ 50.48 per barrel.

 The US dollar is currently trading at 1.19 to the euro, 1.51 to the pound and will buy 118.86 Japanese Yen or 11.72 South African Rand.

International markets

The U.S. stock market endured another day of selling due to slumping oil prices on Tuesday, with the Dow industrials recording its worst start to a new year the 2008 financial crisis. European stocks fell Tuesday, marking a third-consecutive decline for regional markets. Hong Kong stocks appeared headed toward a third straight day of losses, as regional weakness persisted after the U.S. markets extended their five-day losing streak overnight.

The S&P 500 closed 17.97 points, or 0.9%, lower at 2 002.61. The Dow Jones Industrial Average dropped 130 points, or 0.7%, to 17 371.64. The Nasdaq Composite fared the worst, dropping 59.84 points, or 1.3%, to 4 592.74

The Stoxx Europe 600 fell 0.7% to 331.61 after swinging between gains and losses throughout the session. France’s CAC 40 fell 0.7% to 4 083.50, and Germany’s DAX fell nearly 4 points to 9 769.66 after spending a portion of the session higher. The FTSE 100 fell for a third-straight day to 6 366.51.

The Hang Seng Index was up 0.2% and the Shanghai Composite Index was down 0.3%

The US dollar is currently trading at 1.19 to the euro, 1.51 to the pound and will buy 118.86 Japanese Yen or 11.72 South African Rand.

Domestic markets

The All-share index was 0.87% stronger at 48 241 by midday on Tuesday. The Top 40 index, which includes all the heavyweights hammered on Monday, was 0.91% stronger at 42 347.

Commodities

Spot gold is currently trading at US$ 1 214.90 /oz. and platinum at US$ 1,219.20/oz. Brent crude oil is currently trading at US$ 50.48 per barrel.

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