Daily Financial Markets Report | Friday, 05 June 2015

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

Highlights

 U.S. stocks closed with sizable losses Thursday, weighed down in part by fresh Greek drama and U.S. economic reports that helped make an interest-rate hike this year look more likely. European stock markets closed sharply lower on Thursday, marred by a renewed bout of bond-market volatility and jitters over Greece’s bailout talks with international lenders. Hong Kong stocks fell Friday morning, with the benchmark Hang Seng Index trading 0.5% lower as index heavyweight HSBC Holdings PLC 0005, -0.61% HSBC, -0.92% HSBA, -1.04% likewise dropped 0.5% after news it had agreed to pay $43 million to settle a Swiss money-laundering probe.

 The US dollar is currently trading at 1.12 to the euro 1.53 to the pound and will buy 124.45 Japanese Yen or 12.39 South African Rand.

 Spot gold is currently trading at US$ 1 176.40/oz. and platinum at US$ 1 097.90/oz. Brent crude oil is currently trading at US$ 61.86 per barrel.

International markets

U.S. stocks closed with sizable losses Thursday, weighed down in part by fresh Greek drama and U.S. economic reports that helped make an interest-rate hike this year look more likely. European stock markets closed sharply lower on Thursday, marred by a renewed bout of bond-market volatility and jitters over Greece’s bailout talks with international lenders. Hong Kong stocks fell Friday morning, with the benchmark Hang Seng Index trading 0.5% lower as index heavyweight HSBC Holdings PLC 0005, -0.61% HSBC, -0.92% HSBA, -1.04% likewise dropped 0.5% after news it had agreed to pay $43 million to settle a Swiss money-laundering probe.

The S&P 500 dropped 18.23 points, or 0.9%, to close at 2 095.84, with materials and energy stocks leading losses as oil and metals slumped. The Dow Jones Industrial Average shed 170.69 points, or 0.9%, to end at 17 905.58. Both the S&P and Dow are on pace for a weekly drop of about 0.6%.The Nasdaq Composite slumped 40.11 points, or 0.8%, to close at 5 059.12.

The Stoxx Europe 600 index ended 0.8% lower at 392.65, extending its losing streak into a third straight day. The France’s CAC 40 index dropped 0.9% to 4 987.13, while Germany’s DAX 30 index lost 0.7% to 11 340.60 .The FTSE 100 index ended 1.3% lower at 6 859.24, pressured by energy majors that fell alongside a more-than 2% drop in oil prices.

The Hang Seng Index was down 0.7% and the Shanghai Composite Index was up 0.1%.

The US dollar is currently trading at 1.12 to the euro 1.53 to the pound and will buy 124.45 Japanese Yen or 12.39 South African Rand.

Domestic markets

The All-share index was another 0.92% lower at 51 732 points, while the Top 40-index was again 0.90% softer at 45 669 points to trade again below the important support level of 45 800 points.

Commodities

Spot gold is currently trading at US$ 1 176.40/oz. and platinum at US$ 1 097.90/oz. Brent crude oil is currently trading at US$ 61.86 per barrel.

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