Daily Financial Markets Report | Monday, 23 March 2015

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

23 March 2015

Highlights

 U.S. stocks pulled back Thursday, taking a breather a day after a Federal Reserve-inspired rally that sent the S&P 500 to its highest close in two weeks. European stocks rose Thursday, pushing nearer to an all-time closing high, with natural-resources companies driving the gain. Hong Kong stocks weakened Friday morning, following a negative lead from the U.S. overnight.

 Spot gold is currently trading at US$ 1 169.10/oz. and platinum at US$ 1 120.00/oz. Brent crude oil is currently trading at US$ 54.30 per barrel.

 The US dollar is currently trading at 1.07 to the euro, 1.47 to the pound and will buy 120.70 Japanese Yen or 12.28 South African Rand.

International markets

U.S. stocks finished higher Friday, rebounding from the prior session’s drop and scoring strong gains for the week. European stocks jumped Friday, strengthening on the prospect that U.S. interest rates will stay low for a longer period of time, and finding support as Greece said it’s drawing up another plan for economic reforms. Chinese stocks gained Monday morning, with Hong Kong shares rebounding from mild losses at the end of last week, and Shanghai markets looking likely to extend a nine-session winning streak.

The S&P 500 rose 18.83 points, or 0.9%, to close at 2 108.10, as oil prices dropped and energy stocks helped lead the way lower. The Dow Jones Industrial Average was up 168.62 points, or 0.9%, on Friday and 2.1% for the week, closing at 18 127.65. The Nasdaq Composite advanced 0.7% on Friday and 3.2% for the week, finishing at 5 026.42.

The Stoxx Europe 600 leapt 0.9% to 404.01, flirting with its all-time closing high of 405.50. The Germany’s DAX 30 leapt 1.2% to 12 039.37, its first win after three sessions of declines. The U.K.’s FTSE 100 which is heavily weighted by energy and mining shares, surged 0.9% to 7 022.51. The France’s CAC 40 ended 1% higher at 5 087.49.

The Hang Seng Index was up 0.6% and the Shanghai Composite Index was up 1.7%.

The US dollar is currently trading at 1.08 to the euro, 1.49 to the pound and will buy 119.91 Japanese Yen or 12.03 South African Rand.

Domestic markets

The All-share index on the JSE was 0.34% lower at 52 561 while the Top 40-index lost 0.31% to 46 552.

Commodities

Spot gold is currently trading at US$ 1 181.20/oz. and platinum at US$ 1 138.00/oz. Brent crude oil is currently trading at US$ 54.71 per barrel.

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