Daily Financial Markets Report | Monday, 11 May 2015

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

Highlights

 U.S. stocks soared on Friday, with the Dow industrials posting their largest one-day point gain in more than three months. Solid gains on Friday helped the S&P 500 and Dow end the turbulent week with modest gains. European stocks leapt Friday, powered by British shares, as the Conservative Party unexpectedly swept into power after the U.K. general election. Hong Kong stocks rose Monday morning after China’s central bank conducted its third rate-cut in six months.

 The US dollar is currently trading at 1.12 to the euro 1.54 to the pound and will buy 119.93 Japanese Yen or 11.94 South African Rand.

 Spot gold is currently trading at US$ 1 189.10/oz. and platinum at US$ 1 141.30/oz. Brent crude oil is currently trading at US$ 65.25 per barrel.

International markets

U.S. stocks soared on Friday, with the Dow industrials posting their largest one-day point gain in more than three months. Solid gains on Friday helped the S&P 500 and Dow end the turbulent week with modest gains. European stocks leapt Friday, powered by British shares, as the Conservative Party unexpectedly swept into power after the U.K. general election. Hong Kong stocks rose Monday morning after China’s central bank conducted its third rate-cut in six months.

The S&P 500 closed 28.09 points, or 1.4%, higher at 2 116.09 and gained 0.4% over the week. All 10 main sectors finished higher on Friday. The Dow Jones Industrial Average jumped 267.05 points, or 1.5%, to 18 191.11 and finished the week 0.9% higher. The Nasdaq Composite ended the session 58 points, or 1.2%, higher at 5 003.55 and finished the week roughly where it started.

The Stoxx Europe 600 rose 2.9% to 400.16 closing near its intraday high of 400. The DAX 30 rose 2.7% to 11 709.73, and France’s CAC 40 gained 2.5% to 5 090.39. The U.K.’s FTSE 100 which rallied 2.3% to 7 046.82

The Hang Seng Index was up 0.6% and the Shanghai Composite Index was up 1.4%.

The US dollar is currently trading at 1.12 to the euro 1.54 to the pound and will buy 119.93 Japanese Yen or 11.94 South African Rand.

Domestic markets

The All Share-index was still 1.10% higher on 53 821 points. The Top 40-index was 1.20% stronger on 47 783 points and all the other major indices were higher.

Commodities

Spot gold is currently trading at US$ 1 189.10/oz. and platinum at US$ 1 141.30/oz. Brent crude oil is currently trading at US$ 65.25 per barrel.

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