GOOD MORNING MARKETS WORLD VIEW USA Treasury 10 Year Yield 2.33% +0.01% UK Gilt 10 Year Yield 2.05% +0.00%, Spot Gold $1200.40 -0.70, Brent Crude $80.61 +0.31%. The FTSE 100 is called to open higher by +0.38% at 6,760.76 The Dow Jones Industrial Index rose by +0.5%, to 17,801.06 The S&P 500 index advanced by +0.5%, to 2,063.50 The NASDAQ Composite gained +0.2%, to 4,712.97. The Hang Seng China opened positive by +1.95% to 23,883.32 The Nikkei 225 Japan is positive by +0.33% to 17,285.72 COMMENTARY The Dow Jones Industrial Average and the S&P 500 rose to record highs Friday after China’s central bank cut interest rates and the European Central Bank’s president reiterated that the institution was ready to expand its stimulus program. Even as the moves underscore the willingness of central banks to fight slowing global growth with easy monetary policy, investors remain hesitant. U.S. stocks pared their earlier gains as investors digested what these central bank actions mean about the health of the global economy, traders said. In a surprise move, China cuts interest rates for the first time in more than two years. LOOKING LOCAL JSE All-Share is positive by -0.14% to 50,783.94 JSE Top 40 in the positive by +0.21% to 45,184.22 COMMENTARY AFTER rising more than 3% on Friday, the JSE began the week on a flat note on profit-taking as Asian markets were still in an upbeat mood over the decision by China to reduce interest rates. At 9.30am the all share was 0.04% firmer at 50,873.92 points, supported by banks and selected industrials in volatile trade, with the blue-chip top 40 marginally firmer, up 0.02%. The optimism also extended to European and US markets, with both the Dow Jones industrial average and S&P 500 closing at record highs. The combination of China cutting interest rates and the comments from European Central Bank (ECB) president Mario Draghi that the ECB will expand its asset purchasing programme if inflation fails to return to the targeted level helped European stocks finish higher. CURRENCIES CHECK 24/11/2014 USD/RAND R10.99 GPB/RAND R17.18 EURO/RAND R13.63 Complied by Gareth Chamier
Posted on: Mon, 24 Nov 2014 10:05:00 +0000
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