Morning Spread

Morning Spread

Monday 8th December 2014
IndexLevelChg (%)
UK Market6696.45-0.69
Dow Indust Avg17958.79+0.33
S&P 5002075.37+0.17
Nasdaq Composite4780.755+0.24
Nikkei 22517935.64+0.08
Hang Seng24047.67+0.19
IndexLevelChg (%)
Nymex 1m65.13-1.08
Gold Spot1195.70+0.27
GBP/USD1.5578-0.02
GBP/EUR1.2701-0.12
EUR/USD1.2265-0.15
USD/JPY121.08+0.32

In the US there was further strength in equities on Friday as investors were surprised by the strength of the US jobs report. It showed decent growth across all sectors with 321,000 jobs added in November with signs of wage growth as well. Financials responded well with Bank of America up 2.73%, JP Morgan gained 2.15% and Citigroup was up 1.61%. Other GDP sensitive stocks to rise included FedEx Corporation up 1.03%, McDonalds up 0.68% and Dow Chemical up 0.79%. Chinese equities have been booming recently and US listed shares in China Mobile were up 1.20%.

Asia enjoyed broad based gains overnight with Japanese stocks continuing to benefit from positive sentiment. Toyota was up 1.5%, closing at the highest level since March 2007. There was however, weakness in Sony which fell more than 3% on news of the North Korean computer hacks on its film and television division. Tyremakers were positive with Bridgestone up nearly 2%, Toyo Tire was up 1.4% and Sumitomo Rubber was up 0.84%. There were gains in the Australian Banking sector as investors felt the capital raising requirement was not too punitive, ANZ was up 0.9%, Westpac was up 1% and National Australia Bank was up 1.8%.

Europe is pulling back mildly in early trading, having closed at the highest level since January 2008. In France, Saint-Gobain is down 3.25% as Europe’s largest building materials company made a hostile bid for a controlling stake in Sika, a Swiss Chemicals business. Other fallers include ENI down just over 1%, Airbus is down 1.11% and Bayer is 1% lower. Amongst the gainers there is a relief rally in Seadrill up 5.4% and Commerzbank is up 1.16%. In the UK, Marks & Spencer is down nearly 3% after the company admitted customers had been impacted by delays to their online orders.