Morning Spread

Morning Spread

Wednesday 11th February 2015
IndexLevelChg (%)
UK Market6832.81+0.05
Dow Indust Avg17868.76+0.79
S&P 5002068.59+1.07
Nasdaq Composite4787.65+1.30
Nikkei 22517652.68-0.33
Hang Seng24315.02-0.87
IndexLevelChg (%)
Nymex 1m50.57+1.10
Gold Spot1237.97+0.35
GBP/USD1.5288-0.19
GBP/EUR1.3509+0.16
EUR/USD1.1316+0.03
USD/JPY119.66-0.25

European stocks were mixed this morning ahead of a meeting between Greek Finance Minister Yanis Varoufakis and his euro-area counterparts in Brussels. The ESTX 50 (-0.06%) and the CAC 40 (-0.18%) were both slightly negative in early trading, while the UK markets (+0.01%) were flat and the DAX (+0.10%) was slightly positive. ING Groep NV rose +2.1% after announcing plans to pay a dividend for the first time in almost seven years after repaying a state bailout, even as profit from its banking activities fell in the fourth quarter. Reckitt Benckiser Group Plc added +3.9% after announcing that it plans a new cost saving initiative to counter tough market conditions even as fourth quarter sales growth beat estimates. Tullow Oil Plc fell -3.3% after it suspended its dividend. Telenor ASA retreated -5.7% after forecasting a margin of no more than 35% for sales this year, compared with 35.4% in 2014. Sky Plc slid -4.1% after agreeing to pay the bulk of a record £5.14 billion to broadcast live English Premier League football.    

 

US stocks rose on hopes that Greek debt negotiations could result in a deal that stabilises Europe, while Apple helped lift the S&P 500 and Nasdaq as it became the first US company worth more than $700 billion. The Dow Jones Industrial Average (+0.79%), S&P 500 (+1.07%) and the Nasdaq composite (+1.30%) all advanced. Coca-Cola rose +2.8%, helping lead the Dow higher after the company reported fourth quarter profit and revenue that topped analyst expectations. Qualcomm Inc rose +4.7% after reaching a settlement with the Chinese government in its investigation into whether the company violated the country’s antimonopoly law. Starwood Hotels & Resorts Worldwide Inc rose +6.6% after announcing plans to spin off its vacation ownership business into a separate company, a move it said would take advantage of increasing growth opportunities in the timeshare industry. Apple Inc shares closed +1.9% up.

 

Asian stocks fell amid low trading volume as concern about corporate earnings offset optimism that a compromise will be reached over Greece’s debt obligations. The Nikkei 225 (-0.33%), Hang Seng (-0.87%) and the S&P/ASX 200 (-0.54%) all declined. CSL Ltd tumbled -7.8% after cutting its profit forecast. Suncorp Group Ltd declined -2.9% in Sydney after profit missed estimates. Taiwan Semiconductor Manufacturing Co surged +3.9% in Taipei after saying it will increase its dividend by 50%. Hisense Electric Co surged +10% to lead gains for Chinese consumer companies reliant on economic growth. TCL Corp jumped +9.9% after estimating profit jumped 51% in 2014. ZTE surged +5.1% after Qualcomm agreed new terms to licence the company’s technology.