Morning Spread

Morning Spread

Thursday 13th November 2014
IndexLevelChg (%)
UK Market6626.96+0.24
Dow Indust Avg17612.20-0.02
S&P 5002038.25-0.07
Nasdaq Composite4675.14+0.31
Nikkei 22517392.79+1.14
Hang Seng24019.94+0.34
IndexLevelChg (%)
Nymex 1m76.64-0.70
Gold Spot1160.68-0.17
GBP/USD1.5759+0.23
GBP/EUR1.2643-0.44
EUR/USD1.2465+0.21
USD/JPY115.52-0.06

European stocks rose on signs that policymakers in China and Japan will do more to support economic growth. The ESTX 50 (+0.77%), UK markets (+0.36%), CAC 40 (+0.72%) and the Dax (+0.86%) all posted gains in early trading. Aveva Group Plc jumped +2.9% after being raised to “overweight” at Barclays Plc. Iliad SA climbed +4% after reporting sales in line with analysts’ estimates. Royal Dutch Shell lost -1.21%, British Sky Broadcasting Group Plc retreated -1.28% and Marks & Spencer Group Plc declined -0.04% as they traded without the right to their latest dividend. Wolseley added +1.7%.

 

US stocks were mixed as gains among phone and consumer stocks offset losses in utilities and growing concern over slowing growth in Europe. The Dow Jones Industrial Average (-0.02%) and the S&P 500 (-0.07%) both declined, while the Nasdaq Composite (+0.31%) gained. Citigroup declined -0.7% and JPMorgan Chase & Co slipped -1.3% after regulators fined them about $1 billion each. Bank of America dropped -0.2%. JM Smucker dropped -3.5% after cutting its forecast for adjusted earnings in its current fiscal year. Macy’s jumped +5.1% after posting a 23% gain in net income last quarter. Fossil Group Inc jumped +8.4% for the biggest gain in the S&P 500 after announcing a $1 billion share repurchase plan. ADT Corp jumped +3.1% after reporting third quarter earnings and revenue that beat analysts’ estimates.

 

Asian stocks rose as the yen weakened amid signs policy makers in China and Japan will do more to support economic growth. The Nikkei 225 (+1.14%) and the Hang Seng (+0.34%) both increased, while the S&P/ASX 200 (-1.35%) decreased. Nissan Motor Co, which gets 78% of its revenue overseas, added +1.1%. Tokyo Tire & Rubber Co jumped +7.7% after raising its full year profit forecast. China Taiping Insurance Holdings Co surged +11% in Hong Kong after reporting higher insurance premiums. Golden Agri-Resources Ltd tumbled -7.8% in Singapore after saying third quarter profit plunged 86% from a year earlier.