Tradewise Report - 4 July 2014 The benchmark Nikkei Index were flat in a choppy early session on Thursday as investors await U.S. jobs data later in the day, while Toshiba Corp soared on a report that its U.S. subsidiary is expected to win a deal in Bulgaria. A recent batch of positive global economic data, including from Japan, China and the United States, has helped spur Tokyo and global equities. The Hang Seng Index dipped on Thursday, but held near a years high, while shares eked out slight gains in choppy trade helped by materials and shipping sectors. Positive data on the Chinese services sector released in the morning also helped markets recover losses from earlier in the session. Reuters reports that European markets edged higher on Wednesday, adding to the previous days sharp rally, boosted by expectation of a flood of mergers. Automakers were among the top gainers on Wednesday. According to Reuters, U.S. markets closed flat on Wednesday as a positive private sector employment data wasnt enough to interest buyers ahead of the highly anticipated June payrolls report. About 61% of stocks traded on the New York Stock Exchange closed lower while 53% of Nasdaq-listed stocks ended in negative territory. Business Day reports that the JSE All Share Index booked a record close for the second straight session on Wednesday with investors mainly buying up mining stocks amid the favourable global backdrop. The All Share Index ended 0.78% higher to close at 51 883.71 points‚ with the blue-chip top 40 index gaining 0.87%. The Resource 10 Index rallied 1.07% with the Platinum Index gaining 1.73%. The Rand is trading weaker against its major counterparts this morning at R10.7439 against the Dollar, R14.6670 against the Euro and at R18.4030 to the Pound. The gold price slipped to trade below a three-month high on Thursday in Singapore as investors awaited a string of key economic data releases later today to measure the strength of the global economy and the fate of stimulus measures by central banks. Weaker than expected data and continued stimulus would be supportive of safe-haven gold. The gold price was last trading lower at $1,323.24, with the platinum price quoted at $1,494.10, while the palladium price is trading at $847.33. Brent was last trading lower at $111.05 a barrel.
Posted on: Fri, 04 Jul 2014 05:21:10 +0000