Daily Financial Markets Report | Tuesday, 17 May 2016

Daily Financial Markets Report sources information from Business Day, Reuters, JSE Ltd and others.

sacciHighlights

 U.S. stocks closed higher Monday, rebounding after three straight weeks of declines, as a surge in oil prices and a rally in tech stocks overshadowed weaker-than-expected manufacturing data from the New York region. European stocks ended a volatile session almost flat Monday, as investors weighed disappointing Chinese data against a rally in oil prices. Stocks in Hong Kong rose sharply to lead gains in most of Asia on Monday, as investors reversed course on negative bets following the latest economic data out of China.

 The U.S dollar is currently trading at 1.11 to the Euro; 1.44 to the Pound and will buy 109.60 Japanese Yen or 15.59 South African Rand.

 Spot gold is currently trading at US$ 1 273.40/oz. and platinum at US$ 1056.90/oz. Brent crude oil is currently trading at US$ 49.37 per barrel.

International Markets

U.S. stocks closed higher Monday, rebounding after three straight weeks of declines, as a surge in oil prices and a rally in tech stocks overshadowed weaker-than-expected manufacturing data from the New York region. European stocks ended a volatile session almost flat Monday, as investors weighed disappointing Chinese data against a rally in oil prices. Stocks in Hong Kong rose sharply to lead gains in most of Asia on Monday, as investors reversed course on negative bets following the latest economic data out of China.

The S&P 500 surged 20.04 points, or 1%, to close at 2 066.53, with all 10 main sectors finishing higher. The Dow Jones Industrial Average closed up 175.39 points, or 1%, at 17 710.71. The Nasdaq Composite Index surged 57.78 points, or 1.2%, to close at 4 775.46.

The Stoxx Europe rose 0.05 point to end at 334.73, close to an intraday high. France’s CAC 40 fell 0.2% to 4 312.28 and the U.K’s FTSE 100 rose 0.2% to 6 151.40.

In China, the Shanghai Composite Index was off 0.6%, while Hong Kong’s Hang Seng Index was flat.

The U.S dollar is currently trading at 1.11 to the Euro; 1.44 to the Pound and will buy 109.60 Japanese Yen or 15.59 South African Rand.

The All-share index was 1.01% up at 52 126 points, with the Top 40 index gaining 1.09% to 45 900 points.

Commodities

Spot gold is currently trading at US$ 1 273.40/oz. and platinum at US$ 1056.90/oz. Brent crude oil is currently trading at US$ 49.37 per barrel.

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