Morning Spread

Morning Spread

Monday 15th December 2014
IndexLevelChg (%)
UK Market6354.24+0.85
Dow Indust Avg17280.83-1.79
S&P 5002002.33-1.62
Nasdaq Composite4653.60-1.16
Nikkei 22517099.40-1.57
Hang Seng23027.85-0.95
IndexLevelChg (%)
Nymex 1m58.46+1.12
Gold Spot1212.15-0.85
GBP/USD1.5703+0.08
GBP/EUR1.2643+0.25
EUR/USD1.2421-0.33
USD/JPY118.60+0.13

European stocks rose as energy shares rose. The ESTX 50 (+0.23%), CAC 40 (+0.34%), Dax (+0.19%) and the UK markets (+0.21%) all posted gains in early trading. CGG plummeted -32% after Technip SA, Europe’s largest oil and gas services company, walked away from a bid to buy the French company. Technip rallied +8.1%. Danske Bank A/S dropped -1.9% after saying it will write down 9 billion kroner in goodwill following talks with the country’s financial regulator. HSBC Holdings Plc dropped -0.13% after saying the Swiss private banking arm of the company is not for sale. Greggs Plc jumped +4.49% after forecasting profit that was ahead of analysts’ current expectations. Royal Dutch Shell Plc rose +2.4% and BG Group Plc climbed +3.3%. BT Group Plc added +1% after it was reported that its negotiations to buy one of Britain’s two largest wireless operators gained momentum over the weekend.    

 

Asian stocks fell amid concern that a tumbling oil price signals weakness in the outlook for global economic growth. The Nikkei 225 (-1.57%), Hang Seng (-0.95%) and the S&P/ASX 200 (-0.64%) all retreated. Toyota Motor Corp, which gets about 30% of revenue from North America, fell -2.5%. Mazda Motor Corp dropped -4.6%. Anicom Holdings Inc lost -3.3%, leading insurers lower. Japan Airlines Co slipped -3.4% after its rating was cut to “neutral” at UBS AG.  Tokyo Electric slumped -6.5%, the utility’s biggest loss for nine months. China State Construction Engineering Corp and China Railway Group Ltd jumped more than +7% to lead gains for Chinese infrastructure related companies on speculation the Chinese government will take more steps to support economic growth. China Unicom Hong Kong Ltd plunged -4% after the official Xinhua News Agency reported that a company official is being probed for discipline violations.

 

US stocks dropped, with the Dow Jones capping its biggest weekly drop in three years, as oil continued to slide and Chinese industrial data raised concern over a global economic slowdown. The Dow Jones Industrial Average (-1.79%), S&P 500 (-1.62%) and the Nasdaq Composite (-1.16%) all tumbled. International Business Machines Corp, DuPont Co and Exxon Mobil Corp sank at least -2.9% to lead declines in all 30 Dow stocks. The S&P 500 Materials Index decreased -2.9% as Freeport-McMoRan and Dow Chemical Co slid more than -5.2%. Energy companies in the index lost -2.2%, with oil producers and drillers including Nabors Industries Ltd, Noble Energy Inc and QEP Resources Inc declining more than -3.1%. Adobe Systems Inc surged +9% after reporting sales that topped estimates and agreed to buy stock photography provider Fotolia LLC for about $800 million.