Morning Spread

Morning Spread

Friday 15th August 2014
IndexLevelChg (%)
UK Market6730.15+0.67
Dow Indust Avg16713.58+0.37
S&P 5001955.18+0.43
Nasdaq Composite4453.00+0.43
Nikkei 22515318.34+0.02
Hang Seng24954.94+0.62
IndexLevelChg (%)
Nymex 1m95.52-0.06
Gold Spot1313.30-0.02
GBP/USD1.6695-0.06
GBP/EUR1.2473-0.06
EUR/USD1.3384+0.12
USD/JPY102.56-0.05

European equities rose amid speculation that central banks will continue supporting expansion. The ESTX 50 (+0.29%), CAC 40 (+0.20%), Dax (+0.30%) and the UK markets (+0.50%) all posted gains in early trading. H&M climbed +2.4% after saying sales jumped 17% in July which beat analysts’ estimates. ThyssenKrupp added +0.9% and Salzgitter advanced +0.5% after HSBC upgraded the stocks to “neutral” from “underweight”, after ThyssenKrupp said that quarterly profit almost tripled and Salzgitter’s earnings were better than analysts’ had projected. SVG slid -6% after Permira sold 12 million shares. Johnson Matthey Plc rose +1.2% after Goldman Sachs Group Inc recommended buying the stock. New World Resources Plc lost -5.2% after saying it won’t make a payment on some bonds.

 

US stocks rose as speculation the crisis in Ukraine won’t escalate overshadowed weaker than estimated economic employment data. The Dow Jones Industrial Average (+0.37%), S&P 500 (+0.43%) and the Nasdaq Composite (+0.43%) all increased. Kohl’s Corp added +3.3% after quarterly results beat estimates. Wal-Mart Stores Inc gained +0.5% after reporting stagnant same store sales and lowering its profit forecast. Cisco Systems Inc declined -2.6% after forecasting little to no sales growth. Perrigo Co added +7.3% for the biggest advance in the S&P 500 after it reported adjusted fourth quarter earnings that topped estimates. Avago Technologies Ltd jumped +2.6% after agreeing to sell it Axxia networking business to Intel Corp for $650 million.

 

Asian stocks fluctuated as investors weighed earnings, Ukraine developments and economic data that fuelled bets central banks will maintain stimulus. The Nikkei 225 (+0.02%), Hang Seng (+0.69%) and S&P/ASX 200 (+0.33%) all advanced. Parkson Retail Group Ltd soared +15% in Hong Kong after first half profit beat estimates. James Hardie Industries Plc slumped -7.2% after reporting profit plunged. BHP Billiton Ltd gained +2.3% in Sydney as the world’s biggest mining company said it may announce a spinoff of assets next week. China Mobile Ltd climbed +5.2% as it said it will cut $2 billion from device subsidies. Keikyu Corp added +2.9% after the Nikkei newspaper reported the company aims to enter casino management in Japan as a bill to legalise casino’s continues to be discussed.