Daily Financial Markets Report |Thursday, 09 July 2015

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

Highlights

 U.S. stocks closed sharply lower on Wednesday after trading on the New York Stock Exchange was halted for three-and-a-half hours. European stocks closed mostly higher Wednesday following four straight sessions of losses, as Greece requested a third aid package from the Eurozone’s bailout fund that would allow the debt-burdened country to stave off bankruptcy. Chinese stocks swung between gains and losses Thursday morning after a previous heavy sell-off, with the Shanghai Composite Index SHCOMP, +6.53% starting down 2.1% and falling as hard as 3.8% in the first few minutes, but then turning higher and rebounding 0.5%.

 Spot gold is currently trading at US$ 1 163.00/oz and platinum at US$ 1 039.20/oz. Brent crude oil is currently trading at US$ 57.75 per barrel.

 The US dollar is currently trading at 1.11 to the euro; 1.54 to the pound and will buy 121.44 Japanese Yen or 12.49 South African Rand.

International Markets

U.S. stocks closed sharply lower on Wednesday after trading on the New York Stock Exchange was halted for three-and-a-half hours. European stocks closed mostly higher Wednesday following four straight sessions of losses, as Greece requested a third aid package from the Eurozone’s bailout fund that would allow the debt-burdened country to stave off bankruptcy. Chinese stocks swung between gains and losses Thursday morning after a previous heavy sell-off, with the Shanghai Composite Index SHCOMP, +6.53% starting down 2.1% and falling as hard as 3.8% in the first few minutes, but then turning higher and rebounding 0.5%.

The S&P 500 lost 34.65 points, or 1.7%, to close at 2 046.69, its lowest closing level since March. The Dow Jones Industrial Average dropped 261.49 points, or 1.5%, to 17 515.42, its lowest closing level since February. The Nasdaq Composite declined 87.70 points, or 1.8% to close at 4 909.76.

The Stoxx Europe 600 edged up 0.04% to 372.88. Germany’s DAX 30 rose 0.7% to close at 10 747.30, and France’s CAC 40 gained 0.8% to 4 639.02. The U.K.’s FTSE 100 gained 0.9% to 6 490.70.

The Hang Seng Index gained 4.21% to 24 486.18 and the NIKKEI 225 Index gained 0.60% to 19 856.

The US dollar is currently trading at 1.11 to the euro; 1.54 to the pound and will buy 121.44 Japanese Yen or 12.49 South African Rand.

Domestic markets

The All-share index opened almost 1% weaker at 49 594 points, but by midday most of these losses had been made up and the index was only 0.21% lower at 49 891 points. The Top 40-index, which is now trading below its 200-day moving day average, was only 0.03% lower at 44 365 points.

Commodities

Spot gold is currently trading at US$ 1 163.00/oz and platinum at US$ 1 039.20/oz. Brent crude oil is currently trading at US$ 57.75 per barrel.

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