Morning Spread

Morning Spread

Friday 12th June 2015
IndexLevelChg (%)
UK Market6811.26-0.52
Dow Indust Avg18039.37+0.22
S&P 5002108.86+0.17
Nasdaq Composite5082.51+0.11
Nikkei 22520407.08+0.12
Hang Seng27280.54+1.39
IndexLevelChg (%)
Nymex 1m60.19-0.95
Gold Spot1180.36-0.13
GBP/USD1.5509+0.09
GBP/EUR1.3825-0.29
EUR/USD1.1217-0.20
USD/JPY123.76-0.10

In the US equity markets there were reasonable gains after economic data showed that retail sales picked up in May, with auto sales strong along with clothing and building materials. The Gap rose 1.94%, Tractor Supply was up 1.32% and Toll Brothers gained 1.42%. After the market close there was a rise of nearly 6% in Twitter on news that the CEO was to leave, he will be replaced in the interim by one of the co-founders. In the rail sector, CSX Corp rose 2.9% on rumours that it could be involved in a merger deal in Canada. Healthcare was also strong with Eli Lilly up 4.1%, Baxter International was up 3.4% and Amgen was up 1.55%. Energy stocks were the only real negative with Transocean down 5%, Schlumberger down 1.05% and Nabors lost 1.59%.

Asia was generally positive with the Yen weakening against the US$ and stocks such as Murata rose 3.2%, Fujitsu was up 2.50% and Minebea gained 4.50%. On the downside were power companies with Osaka Gas falling 3.3% and J-Power lost 3.1% on coal opposition. Chinese stocks gained on further monetary stimulus prospects with Shimao Property up 4.31%, Poly Property rose more than 7% and China Resources Land was 5.4% higher. In Taiwan, there was a strong performance from IPO technology stock, General Interface, up 39% on it’s first day of trading. In South Korea, Hanwha Life dropped 3.6% on concerns about the earnings environment.

European equities are quiet in Friday trading as the Greek debt negotiations rumble on with no conclusion. Decliners include Carrefour down 1.05%, UBS is nearly 1.50% lower and Bayer is down by 1.12%. In Denmark, TDC, the telecoms company is up 2.52% after the stock was rated a ‘strong buy’ with Bank of America. In the UK, Johnson Matthey is down 2.1% as investors continue to worry about working capital issues and delayed cash returns. After the recent strong run, J Sainsbury is down 2% on profit taking, CRH is 1.75% lower and Weir Group is down 1.23%. On the plus side, Royal Mail Group is up 1.56% after the placing of the Government stake. Other gainers include ITV up 0.86%, BT Group is 0.5% higher and Imperial Tobacco is up by a similar amount.