Morning Spread

Morning Spread

Monday 14th March 2016
IndexLevelChg (%)
UK Market6161.29+0.35
Dow Indust Avg17213.31+1.28
S&P 5002022.19+1.64
Nasdaq Composite4748.47+1.85
Nikkei 22517233.75+1.74
Hang Seng20435.34+1.17
IndexLevelChg (%)
Nymex 1m37.70-2.08
Gold Spot1257.78+0.57
GBP/USD1.4376+0.04
GBP/EUR1.2922+0.19
EUR/USD1.1126-0.27
USD/JPY113.58+0.25

European stocks followed global markets higher this morning as funding plans from the European Central Bank buoyed the sector. ESTX 50 (+0.81%), CAC 40 (+0.45%), Dax (+1.61%) and the UK markets (+0.54%) all posted gains in early trading. Banks such as Monte dei Paschi and Banco Comercial Portugues were among top performers, rising +7.3% and +5% respectively. Home Retail Group Plc gained +1.2% on reports J Sainsbury Plc is considering to raise its offer for the owner of Argos stores. Stagecoach Group Plc lost -3.3% after HSBC Holdings Plc cut its rating on the shares to “reduce” from “neutral”, citing weakness across its rail businesses. Admiral Group Plc declined -1.1% after Bank of America Corp and HSBC downgraded the company.

US stocks advanced as investors embraced the ECB stimulus measures and steadying oil prices drove up energy shares. The Dow Jones Industrial Average (+1.28%), S&P 500 (+1.64%) and the Nasdaq Composite (+1.85%) all rallied. US crude pared some of their gains, but were up more than 1% after the International Energy Agency said oil prices might have bottomed as output in the United States and other non-OPEC countries was beginning to fall quickly. Devon Energy rose +11.4% for the largest percentage gain in the S&P 500. Pepco Holdings dropped -9% for the largest decline in the S&P 500. Anadarko rose +6.4% after Goldman Sachs raised its rating on the stock to “buy”. Home Depot rose +1.8%.

Asian stocks rose led by Chinese and Japanese shares ahead of policy reviews by the Bank of Japan and the US Federal Reserve. The S&P/ASX 200 (+0.37%), Hang Seng (+1.17%) and the Nikkei 225 (+1.74%) all advanced. China Vanke Co surged +10% after announcing plans to buy a stake in a unit of Shenzhen Metro Group Co for as much as 60 billion yuan in a deal that could thwart a hostile takeover bid. Philippine Long Distance Telephone Co jumped +12% in Manila after talks between San Miguel Corp and Telstra Corp to enter the country’s telecommunications industry collapsed. Nippon Kayaku Co sank -8.3% after Nomura Holdings Inc cut its rating on the company to “neutral” from “buy”.