Morning Spread

Morning Spread

Monday 11th August 2014
IndexLevelChg (%)
UK Market6609.24+0.64
Dow Indust Avg16553.93+1.13
S&P 5001931.59+1.15
Nasdaq Composite4370.90+0.83
Nikkei 22515130.52+2.38
Hang Seng24646.02+1.29
IndexLevelChg (%)
Nymex 1m97.84+0.19
Gold Spot1307.95-0.23
GBP/USD1.6793-0.11
GBP/EUR1.2545+0.29
EUR/USD1.3386-0.18
USD/JPY102.09-0.05

European stocks rose after a report that Russian war planes have finished military exercises near Ukraine’s border. The ESTX 50 (+1.23%), CAC 40 (+1.01%), Dax (+1.37%) and the UK markets (+0.78%) all posted gains in early trading. Balfour Beatty gained +1.6% after rejecting Carillion’s revised offer, saying a merger between the two could undermine its sale of Parsons Brinckerhoff. Balfour Beatty had abandoned a round of merger talks late in July because Carillion wanted to include the unit in the deal. Banco Popolare Plc jumped +7.4% after the company unexpectedly posted a profit in the second quarter. DKSH Holding AG rallied +7.1% after posting first half net income that exceeded the forecast of analysts’ in a Bloomberg survey.

 

US stocks rose as signs that tensions are easing in Ukraine outweighed concern over crises in the Middle East. The Dow Jones Industrial Average (+1.13%), S&P 500 (+1.15%) and the Nasdaq Composite (+0.83%) all advanced. Gap Inc advanced +5.9% as the company’s earnings and revenue topped estimates. Coach Inc added +5.4% to lead a rally in apparel companies. Zynga Inc tumbled -1.4% after cutting its full year outlook. News Corp slid -1.6% after fourth quarter earnings missed estimates as the company struggled in its transition from print to digital. Nvidia Corp gained +8.8% after posting second quarter adjusted earnings that beat analysts’ predictions. Monster Beverage Corp advanced +6.7% after reporting quarterly earnings that beat the average estimate in a Bloomberg survey.

 

Asian stocks rose as Japanese shares led gains and Chinese developers surged. The S&P/ASX 200 (+0.40%), Hang Seng (+1.17%) and the Nikkei 225 (+2.38%) all rallied. Mitsui Mining & Smelting Co jumped +7.4% in Tokyo after raising its full year profit forecast. Sunac China Holdings Ltd soared +7.2% in Hong Kong, with the company poised for its highest close in 18 months, on prospects for further easing of property curbs. Malaysian Airline System Bhd soared +6.3% after sovereign wealth fund Khazanah Nasional Bhd offered to take the company private. Treasury Wine Estates Ltd rose +3.9% after TPG Capital offered $3.2 billion for the world’s second biggest listed winemaker, matching a takeover bid by KKR & Co and Phone Capital LLC.