Daily Financial Markets Report | Monday, 06 July 2015

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

Highlights

 U.S. stocks ended a volatile holiday-shortened week with losses, as investors grappled with heightened uncertainty tied to Greece ahead of a Sunday referendum to vote on the country’s status as a Eurozone member. European stocks fell Friday, closing out their worst week so far this year with investors cautious ahead of Sunday’s referendum over Greece’s bailout. Chinese stocks soared out of the open Monday after a week of panic selloffs, as China’s government and central bank launched a wave of drastic policies over the weekend to help save the markets.

 Spot gold is currently trading at US$ 1 167.80/oz and platinum at US$ 1 073.60/oz. Brent crude oil is currently trading at US$ 59.73 per barrel.

 The US dollar is currently trading at 1.11 to the euro; 1.56 to the pound and will buy 122.42 Japanese Yen or 12.35 South African Rand.

International Markets

U.S. stocks ended a volatile holiday-shortened week with losses, as investors grappled with heightened uncertainty tied to Greece ahead of a Sunday referendum to vote on the country’s status as a Eurozone member. European stocks fell Friday, closing out their worst week so far this year with investors cautious ahead of Sunday’s referendum over Greece’s bailout. Chinese stocks soared out of the open Monday after a week of panic selloffs, as China’s government and central bank launched a wave of drastic policies over the weekend to help save the markets.

The S&P 500 ended one point lower at 2 076.27 and recorded a 1.2% loss over the week, its second weekly loss in a row. The Dow Jones Industrial Average slipped 27.80 points, or 0.2%, to 17 730.11 and fell 1.2% over the week. The Nasdaq Composite closed 3.91 points, or 0.1% lower at 5 009.21 and booked a 1.4% loss over the week.

The Stoxx Europe 600 fell 0.5% to 383.42, with all sectors trapped in the red. Germany’s DAX lost 0.3% to 11 058.39, and France’s CAC 40 fell 0.6% to 4 808.22. For the week, the DAX and the CAC fell 3.8% and 5%, respectively. The U.K.’s FTSE 100 lost 0.7% at 6 585.78.

The Hang Seng Index was down 3.5% and the Shanghai Composite Index was up 1.3%.

The US dollar is currently trading at 1.11 to the euro; 1.56 to the pound and will buy 122.42 Japanese Yen or 12.35 South African Rand.

Domestic markets

The All-share index was 0.37% lower at 52 022 while the Top 40 index traded 0.43% softer at 46 428.

Commodities

Spot gold is currently trading at US$ 1 167.80/oz and platinum at US$ 1 073.60/oz. Brent crude oil is currently trading at US$ 59.73 per barrel.

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