Morning Spread

Morning Spread

Thursday 10th December 2015
IndexLevelChg (%)
UK Market6104.76-0.36
Dow Indust Avg17492.30-0.43
S&P 5002047.62-0.77
Nasdaq Composite5022.87-1.48
Nikkei 22519046.55-1.32
Hang Seng21704.61-0.45
IndexLevelChg (%)
Nymex 1m37.26+0.27
Gold Spot1073.61+0.08
GBP/USD1.5174-0.04
GBP/EUR1.3837+0.36
EUR/USD1.0966-0.33
USD/JPY121.76-0.30

European shares were mixed this morning, with retailers and tech firms under pressure and commodity shares stabilising. The ESTX 50 (-0.04%), UK markets (-0.32%), CAC 40 (+0.01%) and the Dax (+0.21%) all switched between gains and losses in early trading. Glencore Plc rallied +9.9% after accelerating a program to reduce its liabilities, aiming to cut its net debt to as low as $18 billion by the end of next year. Whitbread Plc dropped -1.8% after sales at Costa and Premier Inn operations missed projections. Ocado Group Plc declined -4.1% after its revenue growth missed estimates. Sports Direct International Plc lost -8.6% after reporting first half profit that fell short of estimates. Scor SE tumbled -5.6% after a report that Sompo Japan Nipponkoa Holdings Inc will cancel plans to increase its stake in the French company.

 

US stocks closed lower in a choppy session as oil resumed its decline, fuelling investor worries about global economic growth. The Dow Jones Industrial Average (-0.43%), S&P 500 (-0.77%) and the Nasdaq Composite (-1.48%) all decreased. After an early rally for both oil and stocks, the three major US indexes fell as oil reversed course and investors prepared for a Federal Reserve meeting next week that is expected to result in an interest rate hike. Costco Wholesale Corp fell -5.4% after its earnings disappointed. Apple dropped -2.2% after it was reported South Korean regulators will investigate Apple’s relationships with local phone repair companies to determine whether they violate consumer’s rights. Yahoo! Inc lost -1.3% after scrapping its long planned spinoff of shares in Alibaba Group Holding Ltd. Dow Chemical jumped +11.9% and Dupont rose +11.8% after they were reported in be in talks over a merger.

 

Asian stocks fell as the yens biggest gain in three months weighed on Japanese exporters. The Nikkei 225 (-1.32%), Hang Seng (-0.45%) and the S&P/ASX 200 (-0.84%) all retreated. Bridgestone Corp lost -1.8% after the Nikkei newspaper reported the company is planning to outbid Carl Icahn for Pep Boys – Manny Moe & Jack. Isetan Mitsukoshi Holdings Ltd sank -3.7% after Nomura Holdings Inc cut its rating on the company. Fast Retailing and United Arrows Ltd both lost at least -2.5%. Toshiba Corp gained after Kyodo reported it will pull out of TV manufacturing and cut jobs. Chinese security firms rose amid speculation lawmakers will approve a new registration system for IPO’s, boosting their earnings outlook. Western Securities Co advanced +1.8%.