Daily Financial Markets Report | Thursday, 29 January 2015

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

Highlights

 U.S. stocks ended Wednesday’s choppy trading session sharply lower after the Federal Reserve’s policy-making committee reiterated it plans to remain patient and watch the data as it decides when to raise interest rates. Greek stocks tanked for a third straight day on Wednesday as the country’s new government started to unravel key parts of its bailout agreement, while the broader European markets fell after a mixed batch of corporate updates. Hong Kong stocks lost ground Thursday morning, following a weak regional trend after U.S. markets sold off overnight on signs the Federal Reserve remained likely to hike interest rates later this year.

 Spot gold is currently trading at US$ 1 282.50/oz. and platinum at US$ 1 255.20/oz. Brent crude oil is currently trading at US$ 48.64 per barrel.

 The US dollar is currently trading at 1.13 to the euro, 1.51 to the pound and will buy 117.65 Japanese Yen or 11.61 South African Rand.

International markets

U.S. stocks ended Wednesday’s choppy trading session sharply lower after the Federal Reserve’s policy-making committee reiterated it plans to remain patient and watch the data as it decides when to raise interest rates. Greek stocks tanked for a third straight day on Wednesday as the country’s new government started to unravel key parts of its bailout agreement, while the broader European markets fell after a mixed batch of corporate updates. Hong Kong stocks lost ground Thursday morning, following a weak regional trend after U.S. markets sold off overnight on signs the Federal Reserve remained likely to hike interest rates later this year.

The S&P 500 closed 27.39 points, or 1.4%, lower at 2 002.23. The Dow Jones Industrial Average dropped as much as 380 points, but closed down 291.49 points, or 1.7%, at 17 387.21. The Nasdaq Composite fell 43.50 points, or 0.9%, to 4 637.99.

The Stoxx Europe 600 index swung 0.1% higher to 369.08. The Germany’s DAX 30 index reversed course and rose 0.8% to 10 710.97. The France’s CAC 40 index was off 0.3% at 4 610.94, but the U.K.’s FTSE 100 index rose 0.2% to 6 825.94.

The Hang Seng Index was down 1.2% and the Shanghai Composite Index was down 1.4%.

The US dollar is currently trading at 1.13 to the euro, 1.51 to the pound and will buy 117.65 Japanese Yen or 11.61 South African Rand.

Domestic markets

The All-share index was 0.75% higher at 51 092 points and the Top 40-index gained 0.82% to 44 899 points.

Commodities

Spot gold is currently trading at US$ 1 282.50/oz. and platinum at US$ 1 255.20/oz. Brent crude oil is currently trading at US$ 48.64 per barrel.

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