Morning Spread

Morning Spread

Friday 17th April 2015
IndexLevelChg (%)
UK Market7075.35+0.21
Dow Indust Avg18105.77-0.04
S&P 5002104.99-0.08
Nasdaq Composite5007.79-0.06
Nikkei 22519652.88-1.17
Hang Seng27653.12-0.31
IndexLevelChg (%)
Nymex 1m56.42-0.49
Gold Spot1203.88+0.44
GBP/USD1.4972+0.34
GBP/EUR1.3872+0.24
EUR/USD1.0794+0.59
USD/JPY118.86+0.34

US equities were weaker on Thursday as investors once again considered the problems in Greece. The best performer was  Philip Morris  which gained 8.74%. During the first quarter of the year, Philip Morris reported earnings of 1.16 per share vastly outperforming estimates by 0.15. Financials were the other group to register rises with Citigroup up 1.52% and American Express up 1.45%. Among the decliners were Oracle down 1.2%, Merck was down 1% and Toll Brothers lost 3%.

Asia was weaker with Japan held back by a rising Yen. Sony lost nearly 4% as Wikileaks published some company documents. There was a profit warning at the previously strong performing Don Quijote, the discount retailer, which fell nearly 8%. There was also a near 6% decline in Yamaha, as Goldman Sachs advised selling the shares. Gainers included Daihatsu up 4%, Lapine up 10% and 3D up 22%. In Australia, Worley Parsons was up nearly 9%, despite the company saying it was not aware of the reason for a rise.

Europe is weaker with continuing uncertainty over the level of Greek debt, trading volumes are also weak as Bloomberg suffers a global crash. The IMF have warned Greece that they cannot miss any of the debt payments. In Switzerland, Syngenta is down 3% as Q1 sales missed estimates and margins are also struggling to fulfil their potential. Other fallers include Commerzbank down just over 1%, Vestas Wind is down 1.82% and Airbus is 1.30% lower. Thales is nearly 2% higher as Goldman Sachs issued a Conviction Buy note. In the UK, media stocks are higher with ITV up 1%, being cited as a takeover target and Pearson is up 1.7%.