Morning Spread

Morning Spread

Thursday 12th March 2015
IndexLevelChg (%)
UK Market6779.93+0.87
Dow Indust Avg17635.39-0.16
S&P 5002040.24-0.19
Nasdaq Composite4849.94-0.20
Nikkei 22518991.11+1.43
Hang Seng23797.96+0.34
IndexLevelChg (%)
Nymex 1m48.46+0.60
Gold Spot1158.42+0.27
GBP/USD1.4962-0.33
GBP/EUR1.4122-0.27
EUR/USD1.0595+0.60
USD/JPY121.18+0.20

European stocks were mixed as gains in miners outweighed a drop in telecommunications shares. The ESTX 50 (-0.01%) and the CAC 40 (+0.02%) were both flat, while the UK markets (+0.87%) was up and the Dax (-0.18%) was down. K+S AG climbed +3.3% after saying earnings this year will significantly exceed last year’s figures on higher prices. Deutsche Lufthansa AG rose +1.5% after saying operating profit will rise this year. Asos Plc rallied +12% after reporting second quarter sales that beat analysts’ estimates. Wm Morrison Supermarkets Plc lost -1.8% after lowering its 2015 dividend. The company said it plans to pay a dividend of at least 5 pence a share, a 63% decrease. Serco Group plc slid -11% after saying it will raise £555 in an underwritten rights offering at £1.01. BHP Billiton Ltd and Rio Tinto Group gained more than 1%. BT Group Plc fell -1.6% after the UK’s industry regulator said it will hold its second major assessment of the sector.  

 

US stocks ended lower for a second straight session on Wednesday as worries grew about the timing of a Federal Reserve interest rate hike and dollar strength further dampened the outlook for US earnings. The Dow Jones Industrial Average (-0.16%), S&P 500 (-0.19%) and the Nasdaq Composite (-0.20%) all retreated. Tyson Foods were down -5.6% and Pilgrims Pride Corp dropped -4.4% after the US Department of Agriculture confirmed the discovery of highly pathogenic avian influenza in a commercial turkey flock in Arkansas. After the bell, shares of major banks were active following the Fed’s review of their capital plans. Shares of Bank of America were down about -1% after the Fed approved its capital plans but directed the bank to address process weaknesses. Citigroup jumped +3.1% and Morgan Stanley gained +3.1%.

 

Asian stocks advanced as banks climbed and the Nikkei 225 rose to an almost 15 year high. The Nikkei 225 (+1.43%), Hang Seng (+0.34%) and the S&P/ASX 200 (+0.98%) all gained. Nissan Motor Co, a company that gets 77% of revenue overseas, added +2.8%. Bank of Communications Co and China Construction Bank Corp gained at least -2% each in Hong Kong after mainland credit data beat estimates. Industrial Bank Co jumped +9.6% after indicating it will move into securities as soon as regulators allow Chinese lenders to act as brokerages. Fast Retailing Co rose +1.3% and Fanuc Corp added +2.3%.