Morning Spread

Morning Spread

Tuesday 13th May 2014
IndexLevelChg (%)
UK Market6850.16-0.02
Dow Indust Avg16695.47+0.68
S&P 5001896.65+0.97
Nasdaq Composite4143.86+1.77
Nikkei 22514425.44+1.95
Hang Seng22352.38+0.41
IndexLevelChg (%)
Nymex 1m100.85+0.26
Gold Spot1293.98-0.14
GBP/USD1.6851+0.11
GBP/EUR1.2253-0.08
EUR/USD1.3754-0.02
USD/JPY

European stocks rose as quarterly earnings from several companies exceeded analysts’ estimates. The ESTX 50 (+0.68%), UK Markets (+0.01%), CAC 40 (+0.10%) and the DAX (+0.54%) all posted gains in early trading. ThyssenKrupp climbed +5.7% after raising its full year earnings forecast. Airbus advanced +5% after reporting first quarter earnings that beat the average analyst estimate. Pandora A/S jumped +7.8% after saying full year earnings will exceed its previous estimate. First quarter revenue surged 30%, beating analysts’ projections. AstraZeneca Plc gained +0.9% after it was reported that Pfizer may sweeten its bid for the company. Pfizer are working on a new offer that increases the value of its current bid to £50 per share and boosts the cash portion. Telecom Italia slipped -2.3% after reporting that first quarter sales fell 12%. EasyJet Plc lost -4.2% after reporting a pre-tax loss of £53 million in the six months to March 31st.

 

US stocks climbed as internet and small-cap shares rallied amid deals activity that boosted confidence in the world’s largest economy. The Dow Jones Industrial Average (+0.68%), S&P 500 (+0.97%) and Nasdaq Composite (+1.77%) all advanced. 21st Century Fox Inc jumped +3.1% after reports that British Sky Broadcasting Group Plc is in talks to buy European pay TV assets from Fox. Pinnacle Foods Inc surged +13% after Hillshire Brands Co agreed to buy it for about $6.6 billion including debt. Producers of raw materials rallied. Alcoa Inc gained +4.2%. United Technologies Corp and General Electric Co rose more than +1.5% as industrial shares advanced. RadioShack Corp rose +4.5% after Standard General reported a 9.8% stake in the company, up from a 4.83% at the end of December. Vantiv Inc gained +3.1% after it was reported that the company is near a deal to acquire Mercury Payment Systems Inc for about $1.65 billion.

 

Asian stocks rose as investors weighed earnings and after US equity indexes climbed to records. The Nikkei 225 (+1.95%), Hang Seng (+0.32%) and the S&P/ASX 200 (+0.91%) all rallied. Nissan Motor Co jumped +5.1% after full year profit beat estimates and the company forecast higher dividends. PanAust Ltd soared +34% on a takeover bid from Guangdong Rising Assets Management Co. PetroChina Co added +1.8% in Hong Kong after announcing the sale of pipelines valued at $6.3 billion.