Daily Financial Markets Report | Friday, 10 July 2015

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

Highlights

 U.S. stocks rallied in early session echoing big gains in global equity markets, on what appeared to be a “risk-off day” when investors sold havens such as Treasuries and piled into riskier assets such as stocks and commodities. European stocks surged by the most in two weeks on Thursday, as investors gained an appetite for risk amid optimism Greece can reach a debt deal with creditors this weekend. Chinese stocks soared Friday morning, following a previous 5.8% rally, as the markets seemed to have stabilized amid the government’s recent drastic measures to stem the rout.

 Spot gold is currently trading at US$ 1 160.20/oz. and platinum at US$ 1,030.30/oz. Brent crude oil is currently trading at US$ 59.36 per barrel.

 The US dollar is currently trading at 1.11 to the euro; 1.54 to the pound and will buy 121.96 Japanese Yen or 12.43 South African Rand.

International Markets

U.S. stocks rallied in early session echoing big gains in global equity markets, on what appeared to be a “risk-off day” when investors sold havens such as Treasuries and piled into riskier assets such as stocks and commodities. European stocks surged by the most in two weeks on Thursday, as investors gained an appetite for risk amid optimism Greece can reach a debt deal with creditors this weekend. Chinese stocks soared Friday morning, following a previous 5.8% rally, as the markets seemed to have stabilized amid the government’s recent drastic measures to stem the rout.

The S&P 500 closed 4.63 points, or 0.2%, higher at 2 051.31. The Dow Jones Industrial Average relinquished most of a 260-point gain, ending 33.20 points, or 0.2%, higher at 17 548.62. The Nasdaq Composite ended the day with a gain of 12.64 points, or 0.3% at 4 922.40.

The Stoxx Europe 600 jumped 2.2% to close at 381.06, with all sectors advancing. Germany’s DAX 30 leapt 2.3% to 10 996.41 and France’s CAC 40 gained 2.6% to 4 757.22. The FTSE 100 rose 1.4% to close at 6 581.63, with all sectors posting gains.

The Hang Seng Index advanced 2.1%, adding to a 3.7% gain on Thursday and the Shanghai Composite Index climbed 5.9%.

The US dollar is currently trading at 1.11 to the euro; 1.54 to the pound and will buy 121.96 Japanese Yen or 12.43 South African Rand.

Domestic markets

Johannesburg’s Top-40 index closed up 2.67% at 45 872 and the broader All-share index gained 2.42% to 51 452.

Commodities

Spot gold is currently trading at US$ 1 160.20/oz. and platinum at US$ 1,030.30/oz. Brent crude oil is currently trading at US$ 59.36 per barrel.

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