Daily Financial Markets Report | Thursday, 19 March 2015

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

19 March 2015

Highlights

 U.S. stocks closed higher Wednesday after the Federal Open Market Committee indicated a slower pace of rate hikes, following the removal of the word “patient” from its policy statement. Stocks in Europe pulled out a win Wednesday, aided by gains for energy shares ahead of a U.S. Federal Reserve statement that may signal policy makers will soon begin raising interest rates. Hong Kong stocks added to their previous advance, with the Hang Seng Index up 0.9% early Thursday.

 Spot gold is currently trading at US$ 1 170.30/oz. and platinum at US$ 1 126.70/oz. Brent crude oil is currently trading at US$ 55.33 per barrel.

 The US dollar is currently trading at 1.07 to the euro, 1.49 to the pound and will buy 120.50 Japanese Yen or 12.13 South African Rand.

International markets

U.S. stocks closed higher Wednesday after the Federal Open Market Committee indicated a slower pace of rate hikes, following the removal of the word “patient” from its policy statement. Stocks in Europe pulled out a win Wednesday, aided by gains for energy shares ahead of a U.S. Federal Reserve statement that may signal policy makers will soon begin raising interest rates. Hong Kong stocks added to their previous advance, with the Hang Seng Index up 0.9% early Thursday.

The S&P 500 jumped 25.14 points, or 1.2%, to close at 2 099.42, with all 10 sectors finishing higher on the day, led by energy and utilities. Trading within a 400-point range on the session, the Dow Jones Industrial Average surged 227.11 points, or 1.3%, to close at 18 076.19. The Nasdaq Composite surged 45.39 points, or 0.9%, to close at 4 982.83.

The Stoxx Europe 600 rose 0.3% to 398.58. The Germany’s DAX 30 remained in the red, falling 0.5% to 11 922.77. The France’s CAC 40 edged up 5,033.42. The U.K.’s FTSE 100 ended up 1.6% at 6 945.20.

The Hang Seng Index was up 5% and the Shanghai Composite Index was up 0.5%.

The US dollar is currently trading at 1.07 to the euro, 1.49 to the pound and will buy 120.50 Japanese Yen or 12.13 South African Rand.

Domestic markets

The Top-40 index closed 0.2% lower at 46 181, while the All-share was down by a similar margin to 52 187.

Commodities

Spot gold is currently trading at US$ 1 170.30/oz. and platinum at US$ 1 126.70/oz. Brent crude oil is currently trading at US$ 55.33 per barrel.

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