Morning Spread

Morning Spread

Thursday 12th February 2015
IndexLevelChg (%)
UK Market6849.91+0.47
Dow Indust Avg17862.14-0.04
S&P 5002068.530.00
Nasdaq Composite4801.18+0.28
Nikkei 22517979.72+1.85
Hang Seng24422.15+0.44
IndexLevelChg (%)
Nymex 1m50.22+2.83
Gold Spot1225.75+0.55
GBP/USD1.5216+0.11
GBP/EUR1.3420-0.50
EUR/USD1.1338+0.39
USD/JPY119.70+0.52

European stocks advanced after several companies reported earnings and a ceasefire was declared in Ukraine. The ESTX 50 (+1.09%), UK stocks (+0.36%), CAC 40 (+0.76%) and the Dax (+1.35%) all posted gains in early trading. Credit Suisse Group AG climbed +7.2% after returning to profit in the fourth quarter, announced further asset reductions, and offered investors a choice to receive their 2014 dividend in shares or cash. Renault SA rallied +8.1% after reporting a 30% jump in 2014 earnings, beating analysts’ predictions. Rio Tinto Group rose +3.1% as annual profit beat forecasts and saying it plans to spend $2 billion buying back shares. Pernod Ricard slipped -2% after saying operating profit stagnated in the six months through December.

 

US stocks closed fairly unchanged as investors waited for the outcomes of major talks involving Greece and Ukraine. The Dow Jones Industrial Average (-0.04%) and S&P 500 (0.00%) were flat, while the Nasdaq Composite (+0.28%) advanced. PepsiCo finished up +2.5% after reporting a better than expected quarterly profit and announced share buyback plans. Wal-Mart shares fell -1.1% after it said it would make investments to expand in Canada. Apple Inc gained +2.3% after Carl Icahn issued a letter saying Apple’s shares should be valued at $216.

 

Asian stocks rose as investors monitored negotiations in Europe on extending Greece’s bailout. The Nikkei 225 (+1.85%) and the Hang Seng (+0.44%) both gained, while the S&P/ASX 200 (-0.44%) declined. Toyota Motor Corp, a company that gets 78% of sales overseas, climbed +1.8% in Tokyo. Fanuc Corp jumped +6.2% to a record after Third Point hedge fund said it invested in the company and urged a buyback. China Unicom (Hong Kong) Ltd gained +4.2% to pace gains among mainland telecommunication stocks. Beingmate Baby & Child Food Co jumped +5.5% on Fonterra Cooperative Group Ltd’s plan to buy a stake. Citic Securities Co dropped -1.1%.