Daily Financial Markets Report | Thursday, 11 June 2015

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

Highlights

 U.S. stocks rallied on Wednesday, with the S&P 500 and Dow industrials posting their biggest one-day gains in a month. Analysts said the rally on Wall Street was due to a combination of a weaker dollar, which boosted commodities, and fresh hopes that Greece’s creditors will release more bailout cash. Europe’s benchmark stock index rose for the first time in seven days on Wednesday, propelled higher by solid gains for companies in the pharmaceuticals, banking and energy sectors. Hong Kong stocks clawed their way back up Thursday after losses in the previous session over fear that the Middle East Respiratory Syndrome (MERS) outbreak currently afflicting South Korea had spread to the Chinese territory.

 Spot gold is currently trading at US$ 1 186.10/oz. and platinum at US$ 1 114.70/oz. Brent crude oil is currently trading at US$ 65.57 per barrel.

 The US dollar is currently trading at 1.12 to the euro 1.54 to the pound and will buy 123.28 Japanese Yen or 12.36 South African Rand.

International markets

U.S. stocks rallied on Wednesday, with the S&P 500 and Dow industrials posting their biggest one-day gains in a month. Analysts said the rally on Wall Street was due to a combination of a weaker dollar, which boosted commodities, and fresh hopes that Greece’s creditors will release more bailout cash. Europe’s benchmark stock index rose for the first time in seven days on Wednesday, propelled higher by solid gains for companies in the pharmaceuticals, banking and energy sectors. Hong Kong stocks clawed their way back up Thursday after losses in the previous session over fear that the Middle East Respiratory Syndrome (MERS) outbreak currently afflicting South Korea had spread to the Chinese territory.

The S&P 500 closed 24.98 points, or 1.2%, higher at 2 105.14. The Dow Jones Industrial Average jumped 236.16 points, or 1.3%, to 18 000.20. The Nasdaq Composite ended the day higher, adding 62.82 points, or 1.3% to 5 076.69.

The Stoxx Europe 600 index jumped 0.8% to 387.11. Germany’s DAX rallied 1.2% to 11 128.36, climbing back after sliding into correction territory earlier in the week. The France’s CAC 40 gained 0.8% to 4 887.79, and the U.K.’s FTSE 100 gained 0.4% to 6 778.01.

The Hang Seng Index was up 1% and the Shanghai Composite Index was down 0.1%.

The US dollar is currently trading at 1.12 to the euro 1.54 to the pound and will buy 123.28 Japanese Yen or 12.36 South African Rand.

Domestic markets T

The blue-chip JSE Top-40 index ended 1.89% higher at 46 252 and the broader All-share gained 1.72% to 51 958.

Commodities

Spot gold is currently trading at US$ 1 186.10/oz. and platinum at US$ 1 114.70/oz. Brent crude oil is currently trading at US$ 65.57 per barrel.

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