Morning Spread

Morning Spread

Monday 14th July 2014
IndexLevelChg (%)
UK Market6731.04+0.61
Dow Indust Avg16943.81+0.17
S&P 5001967.57+0.15
Nasdaq Composite4415.49+0.44
Nikkei 22515296.82+0.88
Hang Seng23346.67+0.49
IndexLevelChg (%)
Nymex 1m100.38-0.45
Gold Spot1321.50-1.28
GBP/USD1.7125-0.05
GBP/EUR1.2569-0.12
EUR/USD1.3625+0.13
USD/JPY0.00985+0.11

European stocks advanced after a gauge of global shares suffered its biggest weekly loss in three months. The ESTX 50 (+0.71%), UK Markets (+0.67%), CAC 40 (+0.71%) and the Dax (+0.80%) all posted gains in early trading. Shire Plc advanced +2.8% in London after it was reported that the company is willing to recommend a revised offer from AbbVie Inc for a deal to combine the two companys. AbbVie’s cash and stock offer values Shire at £53.20 a share, compared with the July close of £48.70. Rolls-Royce rose +1.5% after Airbus Group NV said it will upgrade its A330 planes with engines from the company. Huntsworth Plc plunged -17% after the public relations firm said first half results will fall short of estimates.

 

US stocks rose as a rally in some tech stocks led an afternoon rebound from declines spurred by concern over financial stress in Europe. The Dow Jones Industrial Average (+0.17%), S&P 500 (+0.15%) and Nasdaq Composite (+0.44%) all advanced. EBay rose +2.3% as sales grew more than 12% in June. Amazon.com jumped +5.6% after a Piper Jaffray report showed that Amazon.com’s sales have exceeded those for EBay by an average of 4% over the last four quarters. Wells Fargo dropped -0.6% after reporting quarterly profit that was in line with estimates. The result ended a 17 quarter streak of rising per-share earnings at the bank. Whirlpool Corp increased +1.1% after agreeing to pay $1 billion for a controlling stake in Indesit Co, its largest acquisition since buying former rival Maytag Corp, eight years ago.

 

Asian stocks rose as telecommunications firms and health care shares advanced. The Nikkei 225 (+0.88%), Hang Seng (+0.49%) and the S&P/ASX 200 (+0.45%) all rallied. Hyundai Hysco sank -1.4% in Seoul and SeAH Steel Corp declined -15% after the US Commerce Department set duties from 9.89% to 15.75% on South Korean pipe, which is used in oil drilling. Chinese phone services providers climbed on speculation a cellular tower joint venture between the nation’s largest mobile carriers will boost earnings. China Mobile Ltd climbed +2.4% and China Telecom Corp advanced +3.3% in Hong Kong. China Unicom (Hong Kong) Ltd rose +3.9%. BYD Co gained +3.4% in Hong Kong after China issued a mandate on new government vehicles using clean energy.