Morning Spread

Morning Spread

Friday 13th February 2015
IndexLevelChg (%)
UK Market6872.54+0.65
Dow Indust Avg17972.38+0.62
S&P 5002088.48+0.96
Nasdaq Composite4857.61+1.18
Nikkei 22517913.36-0.37
Hang Seng24682.54+1.07
IndexLevelChg (%)
Nymex 1m51.98+1.50
Gold Spot1227.88+0.47
GBP/USD1.5385-0.10
GBP/EUR1.3462-0.26
EUR/USD1.1428+0.36
USD/JPY118.85+0.02

European stocks climbed helped by positive growth figures from Germany. The ESTX 50 (+0.87%), UK markets (+0.65%), CAC 40 (+0.76%) and the Dax (+0.59%) all posted gains in early trading. Data showed German GDP surged 0.7% in the fourth quarter, following a 0.1% expansion in the previous three months. L’Oreal SA rose +2.1% after the cosmetics maker reported faster than estimated quarterly revenue growth and expressed confidence for 2015. Anglo American Plc gained +2.6% after posting full year earnings that beat analysts’ projections and writing down assets by $3.9 billion. ArcelorMittal dipped -1% after saying its profit would fall in 2015, rather than improve as expected as iron ore prices sapped mining earnings and steel market growth cooled from last year.

 

US stocks advanced as a rally in technology shares led the Nasdaq to a 15 year high and a ceasefire agreement between Russia and Ukraine also ended tensions. The Dow Jones Industrial Average (+0.62%), S&P 500 (+0.96%) and the Nasdaq Composite (+1.18%) all increased. Tesla Motors dropped -4.7% after it missed fourth quarter sales targets and analysts’ profit expectations. American Express shares dropped -6.4% for the biggest drag on the Dow after it said Costco Wholesale would stop accepting its cards in the United States from next April, after a renewal agreement could not be reached. Cisco Systems climbed +9.4% for the company’s biggest one day jump since May 2013 after earnings and revenue beat expectations. TripAdvisor Inc soared +22.5% a day after revenue topped forecasts. Expedia jumped +14.5% after agreeing to buy Orbitz Worldwide for about $1.33 billion.

 

Asian stocks climbed after equity indexes in the US and Europe posted multi year highs on developments in Ukraine and Greece. The Nikkei 225 (-0.37%) declined, while the Hang Seng (+1.07%) and the S&P/ASX 200 (+2.33%) both advanced. Rio Tinto Group soared +6.5% in Sydney after announcing a $2 billion share buyback and full year profit that beat estimates. Galaxy Entertainment Group Ltd advanced +4% leading gains in Hong Kong. Among the most actively traded stocks in Hong Kong were Shanghai Zendai Property Ltd, up +17.5%, SMIC up +2.8% and China Construction Bank up +1.1%. State owned companies Shanghai Jinfeng Investment Co and Beijing Huaye Real Estate Co advanced more than +7% after the Economic Information Daily reported the government may announce a reform plan for SOE’s next month.