Morning Spread

Morning Spread

Friday 11th March 2016
IndexLevelChg (%)
UK Market6143.11+1.76
Dow Indust Avg16995.13-0.03
S&P 5001989.57+0.02
Nasdaq Composite4662.16-0.26
Nikkei 22516938.87+0.51
Hang Seng20199.60+1.08
IndexLevelChg (%)
Nymex 1m38.78+2.48
Gold Spot1263.52-0.69
GBP/USD1.4288-0.01
GBP/EUR1.2876+0.87
EUR/USD1.1096-0.87
USD/JPY113.87-0.90

European shares advanced this morning after sharp decline in the previous session, with a recovery in metals and crude oil prices boosting commodity related stocks. The ESTX 50 (+2.47%), CAC 40 (+2.38%), Dax (+1.91%) and the UK markets (+1.58%) all posted gains in early trading. Glencore, Anglo American and Rio Tinto rose between 3% and 4%. Deutsche Bank AG rose +3.1% after it was reported that it was in talks with lenders to sell the last batch of its €1 trillion portfolio of complex financial instruments. Old Mutual Plc climbed +1.6% after saying it will separate into four units. Brunello Cucinelli SpA gained +2.3% as the luxury fashion company predicted double digit growth for this year.

 

US stocks ended the session little changed after the European Central Bank reduced interest rates but Mario Draghi confounded investors who expected multiple rate cuts by saying more were unlikely. The Dow Jones Industrial Average (-0.03%) and the S&P 500 (+0.02%) were both flat, while the Nasdaq Composite (-0.26%) decreased. US jobless claims fell more than expected last week to their lowest since October, pointing to sustained strength in the labour market that should further dispel fears of a recession. Dollar General were up +10.7% after it reported better than expected same store sales growth. Dollar Tree was up +4%. 

 

Asian stocks climbed as investors assessed the European Central Bank’s fresh stimulus measures. The S&P/ASX 200 (+0.32%), Hang Seng (+1.08%) and the Nikkei 225 (+0.51%) all advanced. Japanese exporters reversed losses as the yen weakened. Canon Inc rose +1.9% while Sony Corp gained +0.3%, erasing a drop of as much as -2.2%. Cyberdyne Inc jumped +2.2% after Chief Financial Officer Shinji Uga said it plans a Nasdaq listing next year. Kawasaki Heavy Industries Ltd sank -1.8% after SMBC Nikko Securities Inc cut its rating on the company.