Morning Spread

Morning Spread

Thursday 11th September 2014
IndexLevelChg (%)
UK Market6824.25-0.09
Dow Indust Avg17068.71+0.32
S&P 5001995.69+0.36
Nasdaq Composite4586.52+0.75
Nikkei 22515909.20+0.76
Hang Seng24662.64-0.17
IndexLevelChg (%)
Nymex 1m91.39-0.31
Gold Spot1248.48-0.10
GBP/USD1.6237-0.38
GBP/EUR1.2558+0.16
EUR/USD1.2929+0.21
USD/JPY106.90-0.12

European stocks were mixed as investors awaited data on US jobless claims. The ESTX 50 (-0.07%) and the CAC 40 (-0.15%) both posted small losses in early trading, while the Dax (+0.14%) and the UK markets (+0.02%) posted small gains. Wm Morrison Supermarkets Plc gained +4.2% after reporting first half profit that beat analysts’ estimates. Air France-KLM Group added +2.6% after saying it plans to grow earnings by as much as 10% a year between 2013 and 2017. Rio Tinto lost -0.6% and BHP Billiton declined -0.4%, as iron futures in China and Singapore added to recent steep losses, amid abundant supply and slower growth in Chinese demand that have slashed spot prices of the steelmaking raw material by nearly 40% this year. Lloyds gained +1.3% and RBS rose +2.1% after survey late yesterday showed 53% of Scots intended to vote against splitting away from the UK.

 

US stocks rose as Apple rallied to boost technology shares while investors continued to speculate on the timing of interest rate increases. The Dow Jones Industrial Average (+0.32%), S&P 500 (+0.36%) and Nasdaq Composite (+0.75%) all increased. Apple jumped +3.1% as it rebounded from declines after unveiling new products yesterday. Garmin rebounded +4% after the introduction of the Apple Watch, which will include apps for maps. Palo Alto Networks Inc advanced +11% after reporting sales that surpassed analysts’ estimates. Twitter Inc climbed +4.5% after UBS AG raised its rating on the company to “buy” from “neutral”. EBay slipped -3.1% after Piper Jaffray downgraded the stock to “neutral” from “overweight”.

 

Asian stocks fluctuated as investors weighed Chinese inflation data. Japanese shares extended their rally from 2008 high, hile consumer and energy stocks slid. The S&P/ASX 200 (-0.51%) and the Hang Seng (-0.14%) both declined, while the Nikkei 225 (+0.76%) increased. Seven & I Holdings Co slid -1.7%. Cnooc Ltd fell -1.9%. Myer Holdings Ltd slumped -13% after reporting full year profit that missed estimates. SK Holdings Co surged +6.3% after announcing a share buyback. Toyota Motor Corp, a company that gets three quarters of its sales overseas, added +0.8%. SoftBank Corp jumped +2.9% after unit Sprint Corp shares surged yesterday on introducing an “iPhone for Life” plan to win back customers.