Daily Financial Markets Report | Friday, 16 January 2015

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

Highlights

 The U.S. stock market finished Thursday’s volatile session lower, extending the losing streak to five straight sessions after the Swiss National Bank stunned global markets by cutting its currency cap with the euro. Europe, Swiss stocks tanked on Thursday after the country’s national bank scrapped its euro exchange cap in a shock move that rocked financial markets. Following a negative lead from the U.S. after Switzerland’s surprise move to scrap some currency controls, Hong Kong stocks moved lower Friday morning.

 Spot gold is currently trading at US$ 1 264.70/oz. and platinum at US$ 1 256.70/oz. Brent crude oil is currently trading at US$ 48.43 per barrel.

 The US dollar is currently trading at 1.16 to the euro, 1.52 to the pound and will buy 116.90 Japanese Yen or 11.54 South African Rand.

International markets

The U.S. stock market finished Thursday’s volatile session lower, extending the losing streak to five straight sessions after the Swiss National Bank stunned global markets by cutting its currency cap with the euro. Europe, Swiss stocks tanked on Thursday after the country’s national bank scrapped its euro exchange cap in a shock move that rocked financial markets. Following a negative lead from the U.S. after Switzerland’s surprise move to scrap some currency controls, Hong Kong stocks moved lower Friday morning.

The S&P 500 which opened higher, closed down 18.57 points, or 0.9%, at 1 992.70. The Dow Jones Industrial Average ended 106.38 points, or 0.6%, lower at 17 320.71. The Nasdaq Composite dropped 68.50 points, or 1.5%, to 4 570.82.

In Frankfurt, France’s CAC 40 index PX1, +2.37% dropped 2.4% to 4 323.20. Germany’s DAX 30 index rose 2.2% to 10,032.61The U.K.’s FTSE 100 index ended up 1.7% at 6 498.78.

The Hang Seng Index was down 0.8% and the Shanghai Composite Index was up 1.3%

The US dollar is currently trading at 1.16 to the euro, 1.52 to the pound and will buy 116.90 Japanese Yen or 11.54 South African Rand.

Domestic markets

The benchmark Top-40 index rose 1.2% to 42 534. The broader All-Share rose 1% to 48 524.

Commodities

Spot gold is currently trading at US$ 1 264.70/oz. and platinum at US$ 1 256.70/oz. Brent crude oil is currently trading at US$ 48.43 per barrel.

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