Morning Spread

Morning Spread

Tuesday 14th October 2014
IndexLevelChg (%)
UK Market6357.20-0.14
Dow Indust Avg16321.07-1.35
S&P 5001874.74-1.65
Nasdaq Composite4213.66-1.46
Nikkei 22514936.51-2.38
Hang Seng23047.97-0.41
IndexLevelChg (%)
Nymex 1m85.45-0.34
Gold Spot1233.16-0.22
GBP/USD1.6018+0.26
GBP/EUR1.2630-0.39
EUR/USD1.2683+0.13
USD/JPY107.22+0.22

European stocks fell as investors awaited a report which is expected to show German investor confidence slumped to its weakest level in over 2 years. The ESTX 50 (-0.26%), UK markets (-0.26%), CAC 40 (-0.29%) and the Dax (-0.03%) all posted losses in early trading. SABMiller Plc slipped -1.6% after posting first half revenue growth that trailed estimates. Iliad SA rallied +12% after abandoning a plan to buy a majority stake in T-Mobile US Inc after an improved bid was rejected by owner Deutsche Telekom AG. Burberry fell -4.5% after forecasting downward pressure on profit margins. Mulberry Group plunged -25%.

 

US stocks sank as investors weighed prospects for slowing global growth and the spread of Ebola. The Dow Jones Industrial Average (-1.35%), S&P 500 (-1.65%) and the Nasdaq composite (-1.46%) all retreated. Merck lost -4.3% for the biggest decline in the Dow. JPMorgan, which is forecast to report an 8% drop in adjusted third quarter earnings per share tomorrow, declined -0.6% after earlier gaining more than 1%. CSX Corp rallied +5.9% for its biggest gain since 2012 after Canadian Pacific Railway Ltd was rebuffed after approaching CSX with a merger proposal. QEP Resources Inc lost -9.2% and LyondellBasell Industries NV, AutoNation Inc, Newfield Exploration Co and Halliburton sank more than -7% for the biggest losses in the S&P 500 as 446 of its companies retreated.

 

Asian stocks fell continuing a retreat in global equities after the S&P 500 capped its biggest three day loss since 2011. The Nikkei 225 (-2.38%) and Hang Seng (-0.19%) both declined, while the S&P/ASX 200 (+1.01%) gained. Japanese exporters and banks suffered. Toyota Motor sank -3.9%. Mitsubishi UFJ Financial Group Inc dropped -2% and Sumitomo Mitsui Financial Group Inc declined -2.3%. ANA Holdings lost -5.3% and Japan Airlines Co declined -5.5%. SoftBank lost -3.1% to close at its lowest level since August. Tokyo Electron Ltd slumped -6.7% following a selloff in semiconductors in the US. Chow Tai Fook Jewellery Group Ltd, which had shut some of its shops amid the city’s unrest, advanced +1.4%. Agile Property Holdings climbed +4.6%, after plunging -17% in the previous session. Cnooc Ltd fell -3.1% as crude prices extended losses.