Morning Spread

Morning Spread

Friday 11th September 2015
IndexLevelChg (%)
UK Market6138.78-0.28
Dow Indust Avg16330.40+0.47
S&P 5001952.29+0.53
Nasdaq Composite4796.25+0.84
Nikkei 22518264.22-0.19
Hang Seng21504.37-0.27
IndexLevelChg (%)
Nymex 1m45.11-1.76
Gold Spot1108.09-0.24
GBP/USD1.5432+0.24
GBP/EUR1.3659-0.35
EUR/USD1.1299+0.31
USD/JPY120.49+0.09

European stocks fell this morning, paring their biggest weekly advance for almost two months. The ESTX 50 (-0.43%), UK markets (-0.27%), CAC 40 (-0.31%) and the Dax (-0.46%) all posted losses in early trading. E.ON dropped -2.6%, extending the previous sessions fall following broker downgrades. Its shares dropped -5% to a 20 year low yesterday after it abandoned plans to spin off its German nuclear power plants. Actelion fell -2.4% after it said it had initiated preliminary discussions with US biotech company ZS Pharma. BT Group Plc and Vodafone Plc both lost at least -1.3%, as their European peers retreated after Telenor ASA and TeliaSonera AB scrapped merger plans. Rio Tinto Group and Glencore Plc rose at least +1.7% as copper headed for its biggest weekly gain since May.

 

US stocks rose in another session of broad swings as investors showed nervousness ahead of next week’s much anticipated Federal Reserve meeting, but gains in Apple and biotech shares supported the day’s advance. The Dow Jones Industrial Average (+0.47%), S&P 500 (+0.53%) and the Nasdaq Composite (+0.84%) all increased. Apple’s shares rose +2.2%, rebounding from losses in the previous session when the company unveiled new iPhone and iPad offerings. Biotech also boosted the market, with Gilead up +3.3%, giving the second biggest boost to the S&P 500 and Nasdaq after Apple. Krispy Kreme Doughnuts dropped -11.7% after the company cut its 2016 profit forecast. After the bell Restoration Hardware was up +2.4% following its results and outlook.

 

Asian shares declined amid uncertainty over whether the Federal Reserve will raise interest rates next week. The Nikkei 225 (-0.19%), Hang Seng (-0.13%) and the S&P/ASX 200 (-0.47%) all declined. SoftBank Group Corp ended down -0.6%, having risen as much as +2.9% on a Bllomberg report that founder Masayoshi Son considered a management buyout. Sekisui House Ltd advanced +2.7% after raising full year profit forecasts. Japanese insurance companies retreated after floods north of Tokyo destroyed homes and displaced hundreds of thousands of resident. MS&AD Insurance Group Holdings Inc dropped -2.2%. While builder Iida Group Holdings Inc jumped +9% on speculation the floods would lead to more demand for construction.