Daily Financial Markets Report | Tuesday, 31 7May 2016

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

Highlights

sacci U.S Stock futures pointed slightly higher in a shortened session on the Memorial Day holiday Monday, rising against a backdrop of a stronger dollar after heavy hints of a U.S. interest rate cut from Federal Reserve Chairwoman Janet Yellen late last week. European stock markets inched higher on Monday, though the absence of U.S. and London markets, which are both closed for holidays, kept volumes thin. Chinese stocks surged Tuesday in the largest one-day gain in two months, propelled by increased optimism that they may soon be included soon in an influential global benchmark.

 The U.S dollar is currently trading at 1.11 to the Euro; 1.46 to the Pound and will buy 111.24 Japanese Yen or 15.79 South African Rand.

 Spot gold is currently trading at US$ 1 212.60/oz. and platinum at US$ 982.50/oz. Brent crude oil is currently trading at US$ 49.69 per barrel.

International Markets

U.S Stock futures pointed slightly higher in a shortened session on the Memorial Day holiday Monday, rising against a backdrop of a stronger dollar after heavy hints of a U.S. interest rate cut from Federal Reserve Chairwoman Janet Yellen late last week. European stock markets inched higher on Monday, though the absence of U.S. and London markets, which are both closed for holidays, kept volumes thin. Chinese stocks surged Tuesday in the largest one-day gain in two months, propelled by increased optimism that they may soon be included soon in an influential global benchmark.

Dow Jones Industrial Average futures rose 39 points, or 0.2% to 17 873, while those for the S&P 500 index added 3 points to 2 100.25. Nasdaq-100 futures gained 6.25 points to 4 516.25.

The Stoxx Europe 600 was barely positive at 350.14, after a 3.4% gain last week. Germany’s DAX 30 rose 0.5% to 10 333.23, while the French CAC 40 index rose 0.3% to 4 529. The FTSE 100 rose 0.1% to close at 6 270.79, after darting between small gains and losses throughout the session.

The Nikkei Stock Average gained rose 1.4% o close at 17 068.02. The Hang Seng Index was up 0.3%, while the Shanghai Composite Index

The U.S dollar is currently trading at 1.11 to the Euro; 1.46 to the Pound and will buy 111.24 Japanese Yen or 15.79 South African Rand.

The All-share index was however only 0.01% up at 53 926 points after gaining more than 0.64% in earlier trade. The Top 40 index was only 0.11% stronger at 47 890 points

Commodities

Spot gold is currently trading at US$ 1 212.60/oz. and platinum at US$ 982.50/oz. Brent crude oil is currently trading at US$ 49.69 per barrel.

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