Tradewise Report 4 March 2014 The Nikkei Index dropped to a 1½-week low on Monday on the back of possible military tensions in Ukraine, while a stronger Yen bruised investor sentiment, but the oil sector ignored the bearish trend after crude prices surged to multi-month highs. Shares on mainland China outperformed most other Asian markets on Monday, stemming losses on the Hang Seng Index in Hong Kong, with Sinopec and PetroChina ending stronger on expectations that upcoming parliamentary meetings may present more progress with regards reforms for state-owned enterprises. Reuter’s reports that European markets are expected to open lower on Monday on the back of the escalating tensions in Ukraine, while Chinas weaker than expected manufacturing data may also prompt investors to move to the side lines. According to the Reuters website, U.S. markets ended mixed on Friday but all three indices still managed to post gains for the week, while also ending with a strong performance for February. Business Day reports that the JSE All Share Index closed higher on Friday, ending February with its biggest monthly gain in seven months led higher by insurer Old Mutual, which surged 5.5% higher after announcing strong annual sales. The Rand was last trading slightly lower at R10.7919 against the Dollar, while it is also quoted weaker at R14.8638 against the Euro and at R18.0149 to the Pound. Gold was last trading at $1,348.10, with the platinum price quoted at $1,449.85, while the palladium price is trading higher at $742.00. Brent was last trading at $111.05 a barrel.
Posted on: Tue, 04 Mar 2014 05:44:28 +0000
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