Markets rally on ceasefire talks • The Nikkei Index slipped lower on Thursday, on some profit taking and reversed a three-day winning streak, after investors quickly discounted the Bank of Japans decision to maintain its massive monetary stimulus, as well as keep its upbeat view on the economy. • The Hang Seng Index traded lower on Thursday despite shares on mainland China rising for a fifth straight session on the back of demand for property shares after Beijing relaxed financing rules for listed property firms. • According to Reuters, European markets are expected to open flat to slightly lower on Thursday with investors consolidating the previous days sharp gains and wait to see whether the European Central Bank will announce additional stimulus measures to fight deflation. • The Reuters website reports that shares on Wall Street closed mostly lower on Wednesday with Apple’s share price dropping 40.2% after the company wrestled with a possible security breach of its iCloud service a week before the launch of its new iPhone, while investors also decided to rather hold off on big bets before the European Central Banks upcoming policy meeting. • The Business Day website reports that the JSE All Share Index closed higher on Wednesday, with Naspers, Bidvest and Cashbuild putting in good performances, with the local bourse first taking its lead from Wall Street overnight and then followed London’s FTSE 100 Index, which reached a 14-year intraday high on news of ceasefire talks between Russian and Ukraine, pushing investors to take on more risk. • The Rand was last trading stronger at R10.6778 against the US Dollar, with the Euro quoted at R14.0293, while the British Pound was quoted firmer at R17.5293. • The gold price edged slightly higher on Thursday on the back of technical and physical buying interest out of Asia, as bullish sentiment around the U.S. economy, as well as the Dollar diminished the precious metals appeal as a safe haven. Gold was last trading higher at $1,270.55, with the platinum price at $1,407.75, while the palladium price was last trading lower at the $878.70 level. • Brent was last trading higher at $102.13 a barrel. psgonline.co.za/
Posted on: Thu, 04 Sep 2014 09:17:52 +0000
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