Daily Financial Markets Report | Wednesday, 18 March 2015

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

18 March 2015

Highlights

 U.S. stocks ended Tuesday’s choppy session broadly lower, with the Dow industrials posting a triple-digit loss. European stocks fell Tuesday, with losses holding following disappointment over a key sentiment reading from Germany, Europe’s biggest economy. Stocks in Shanghai climbed to near a seven-year high Wednesday, as hopes for further stimulus from Beijing encouraged investors to return to the market following a correction earlier this year on worries over slowing growth.

 Spot gold is currently trading at US$ 1 148.70/oz. and platinum at US$ 1 093.00/oz. Brent crude oil is currently trading at US$ 53.09 per barrel.

 The US dollar is currently trading at 1.05 to the euro, 1.47 to the pound and will buy 121.37 Japanese Yen or 12.37 South African Rand.

International markets

U.S. stocks ended Tuesday’s choppy session broadly lower, with the Dow industrials posting a triple-digit loss. European stocks fell Tuesday, with losses holding following disappointment over a key sentiment reading from Germany, Europe’s biggest economy. Stocks in Shanghai climbed to near a seven-year high Wednesday, as hopes for further stimulus from Beijing encouraged investors to return to the market following a correction earlier this year on worries over slowing growth.

The S&P 500 closed 6.99 points or 0.3%, lower at 2 074.20, with nine of its 10 main sectors finishing lower. The Dow Jones Industrial Average dropped 128.34 points, or 0.7%, to 17 849.08. The Nasdaq Composite defied the trend and closed in positive territory, up 7.93 points, or 0.2%, at 4 937.43

The Stoxx Europe 600 on Tuesday fell 0.7% to 397.33; The Germany’s DAX dropped 1.5% to 11.980.85.The France’s CAC 40 fell 0.6% to 5,028.93. The U.K.’s FTSE 100 gained 0.5% to 6 837.61.

The Hang Seng Index was up 1% and the Shanghai Composite Index was up 0.8%.

The US dollar is currently trading at 1.05 to the euro, 1.47 to the pound and will buy 121.37 Japanese Yen or 12.37 South African Rand.

Domestic markets

The blue-chip JSE Top-40 index was up 0.14% at 46 269 points and the broader All-share index gained 0.3% to 52 300.

Commodities

Spot gold is currently trading at US$ 1 148.70/oz. and platinum at US$ 1 093.00/oz. Brent crude oil is currently trading at US$ 53.09 per barrel.

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