Daily Financial Markets Report | Tuesday, 30 June 2015

sacci-logoDaily Financial Markets Report sources information from Business Day, Reuters, JSE Ltd and others.

Highlights

 The S&P 500 suffered its biggest decline in more than a year, while Dow industrials saw the largest one-day point drop in more than two years as investors dumped risky assets such as stocks as the crisis unraveled in Greece. Stocks across Europe tumbled Monday, with investors rattled as Greece closed its banks and stock market, with the country looking set to default on its debt as talks with creditors unraveled. Asian markets were roiled Monday, as China’s stocks closed in bear-market territory, and uncertainty about Greece shook sentiment across the region.

 Spot gold is currently trading at US$ 1 176.30/oz. and platinum at US$ 1 081.60/oz. Brent crude oil is currently trading at US$ 61.94 per barrel.

 The US dollar is currently trading at 1.11 to the euro; 1.57 to the pound and will buy 122.36 Japanese Yen or 12.24 South African Rand.

International Markets

The S&P 500 suffered its biggest decline in more than a year, while Dow industrials saw the largest one-day point drop in more than two years as investors dumped risky assets such as stocks as the crisis unraveled in Greece. Stocks across Europe tumbled Monday, with investors rattled as Greece closed its banks and stock market, with the country looking set to default on its debt as talks with creditors unraveled. Asian markets were roiled Monday, as China’s stocks closed in bear-market territory, and uncertainty about Greece shook sentiment across the region.

The S&P 500 dropped 43.85 points, or 2.1%, to 2 057.64 and turned negative for the year. The Dow Jones Industrial Average plunged 350.33 points, or 2%, to 17 596.35, its biggest point drop in two years. The Nasdaq Composite was hit the hardest, shedding 122.42 points, or 2.4% to 4 958.47.

German and French shares each suffered their worst loss since Nov. 1, 2011, according to FactSet, leaving the DAX 30 down 3.6% at 11 083.20, and France’s CAC 40 lower by 3.7% at 4 869.82. The U.K.’s FTSE 100 fell 2% to 6 620.48.

The Hang Seng Index was up 1.2% and the Shanghai Composite Index was flat.

The US dollar is currently trading at 1.11 to the euro; 1.57 to the pound and will buy 122.36 Japanese Yen or 12.24 South African Rand.

Domestic markets

The JSE the All-share index opened almost 1 000 points or nearly 2% lower and at midday was still 1.3% softer than Friday’s close at 51 984 points. The Top 40 index traded 1.4% lower at 46 397 points.

Commodities

Spot gold is currently trading at US$ 1 176.30/oz. and platinum at US$ 1 081.60/oz. Brent crude oil is currently trading at US$ 61.94 per barrel.

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