Morning Spread

Morning Spread

Monday 17th November 2014
IndexLevelChg (%)
UK Market6636.20-0.27
Dow Indust Avg17634.74-0.10
S&P 5002039.82+0.02
Nasdaq Composite4688.54+0.18
Nikkei 22516973.80-2.96
Hang Seng23797.08-1.21
IndexLevelChg (%)
Nymex 1m74.71-1.45
Gold Spot1187.49-0.11
GBP/USD1.5627-0.27
GBP/EUR1.2511+0.02
EUR/USD1.2491-0.27
USD/JPY116.17+0.10

US equities ended nearly flat in Friday trading with upbeat retail sales data providing comfort to investors. The figures for October showed a 0.3% rise in retail and food sales against the 0.2% consensus. Consumer sentiment for November also jumped to the highest reading in seven years, again enforcing the health of the US economy. There was a brief glimmer of light in the gloom that has been the commodity sector with Newmont Mining rising nearly 5% on bargain seekers. Other gainers included Cisco Systems up 2.50%, Dow Chemical was up 2.82% and Amazon was up just over 3.50%. Among the fallers, Amgen lost nearly 2%, Invesco fell 1.32% and Kimberly-Clark lost just over 1%.

In Asia equities were weaker after economic data showed that the Japanese economy fell into recession during Q3. Consensus forecasts suggested a 2.2% increase, however the reality was a 1.6% contraction. The Nikkei, unsurprisingly, fell nearly 3% with Dai-ichi Life falling nearly 5%, Nomura Holdings lost nearly 4% and Hino Motors lost 5.44%. In Australia, there was a sharp rebound in the battered iron ore sector with Mount Gibson up nearly 8% and Atlas Iron gained 7.3%. Banks were weaker on the Japanese recession news with ANZ down 1.33% and Commonwealth Bank down nearly 1%.

Europe is in negative territory to start the trading week with Airbus down 2.16%, Credit Agricole is down by 1.25% and Carlsberg is 1.17% lower. In the UK, notable decliners include Tesco down 1.41%, HSBC is down 1.12% and AstraZeneca is nearly 2% lower. The continuing mild weather conditions in the UK are leading many analysts to downgrade clothing retailer forecasts, Ted Baker is down 1.06% and over the last month SuperGroup has fallen by 23%. A broker Sell note on Weir Group has seen the shares fall over 4% this morning. In Switzerland, Sonova is down just over 2% after the hearing aids manufacturer posted a profit warning.