Daily Financial Markets Report | Monday, 13 July 2015

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

Highlights

 U.S. stocks rallied on Friday on renewed hopes that debt-laden Greece will reach a deal with its creditors this weekend and stave off an exit from the Eurozone. The Euro finished the week higher against the dollar on Friday after Greece offered concessions to its international creditors in its latest reform proposal, stoking investors’ optimism that the country’s international creditors would likely accept it, paving the way for the country to receive a third bailout. Chinese stocks headed toward a third day of gains Monday, adding to a previous weekly rally of 5.2% for Shanghai shares, as markets seemed to regain footing amid Beijing’s fresh measures to stem the recent market rout.

 Spot gold is currently trading at US$ 1 159.00/oz. and platinum at US$ 1 022.00/oz. Brent crude oil is currently trading at US$ 57.11 per barrel.

 The US dollar is currently trading at 1.11 to the euro; 1.56 to the pound and will buy 122.56 Japanese Yen or 12.47 South African Rand.

International Markets

U.S. stocks rallied on Friday on renewed hopes that debt-laden Greece will reach a deal with its creditors this weekend and stave off an exit from the Eurozone. The Euro finished the week higher against the dollar on Friday after Greece offered concessions to its international creditors in its latest reform proposal, stoking investors’ optimism that the country’s international creditors would likely accept it, paving the way for the country to receive a third bailout. Chinese stocks headed toward a third day of gains Monday, adding to a previous weekly rally of 5.2% for Shanghai shares, as markets seemed to regain footing amid Beijing’s fresh measures to stem the recent market rout.

The S&P 500 posted its biggest one-day gain in two months, but ended the week virtually flat. The benchmark index advanced 25.31 points, or 1.2%, to 2 076.62. The Dow Jones Industrial Average 211.79 points, or 1.2%, to 17 760.41 and eked out a 0.2% weekly gain. The Nasdaq Composite rallied 75.30 points, or 1.5% to 4 997.70, but finished the week 0.2% lower.

The Stoxx Europe 600 leapt 2% to close at 388.80, building on a rise of 2.2% from Thursday. For the week, the pan-European benchmark jumped 1.4%.In Frankfurt, the DAX 30 rose 2.9% to 11 315.63, and in Paris, the CAC 40 jumped 3.1% to 4 903.07. The U.K.’s FTSE 100 picked up 1.4% at 6 673.38.

The Hang Seng Index was up 0.2% and the Shanghai Composite Index was up 2.3%.

The US dollar is currently trading at 1.11 to the euro; 1.56 to the pound and will buy 122.56 Japanese Yen or 12.47 South African Rand.

Domestic markets

The All-share index opened more than 500 points or over 1% higher on Friday morning, but by mid-morning the index was only 0.43% stronger at 51 675 points. The Top 40-index was at that stage only 0.44% stronger at 46 073 points.

Commodities

Spot gold is currently trading at US$ 1 159.00/oz. and platinum at US$ 1 022.00/oz. Brent crude oil is currently trading at US$ 57.11 per barrel.

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