Morning Spread

Morning Spread

Wednesday 15th January 2014
IndexLevelChg (%)
UK Market6787.12+0.30
Dow Indust Avg16373.86+0.71
S&P 5001838.88+1.08
Nasdaq Composite4183.02+1.69
Nikkei 22515808.73+2.50
Hang Seng22902.00+0.49
IndexLevelChg (%)
Nymex 1m92.69+0.11
Gold Spot1236.89-0.67
GBP/USD1.6419+0.19
GBP/EUR1.2059+0.31
EUR/USD1.3617-0.49
USD/JPY

European stocks advanced after the World Bank raised its global growth forecast. The ESTX 50 (+0.48%), UK Markets (+0.39%), CAC 40 (+0.51%) and the DAX (+0.88%) all posted gains in early trading. Burberry Group Plc gained +0.6% after posting quarterly revenue that topped analysts’ estimates. Banca Monte dei Paschi di Siena SpA rose +1.9% after saying CEO Fabrizio Viola will remain at the bank after the board rejected his offer to resign following a conflict with the biggest shareholder. Hennes & Mauritz AB climbed +1.7% after posting a 10% increase in total sales in December, beating analyst estimates. Anglo American Plc rose +3.8% after UBS AG advised buying the shares. Hargreaves Lansdown Plc dropped -3.2% after revising its pricing and saying it must garner £3.5 billion of new assets over three years to compensate for the change.

 

US stocks rose while Treasuries retreated as retail sales climbed more than economists predicted in December. Dow Jones Industrial Average (+0.71%), S&P 500 (+1.08%) and the NASDAQ Composite (+1.69%) all increased. Time Warner Cable Inc climbed +2.7% after the company rejected an acquisition offer from Charter Communications Inc. Intel Corp and Jabil Circuit Inc paced gains among technology companies, rising at least +3.9% as analysts upgraded their stock. Intuitive Surgical Inc rallied +6.8% after sales beat analysts’ estimates. JPMorgan and Wells Fargo both gained +0.1% after reporting fourth quarter results. Bank of America Corp, Citigroup Inc and Goldman Sachs Group Inc are also set to report earnings this week. Analysts’ estimates suggest that earnings for companies in the S&P 500 probably climbed an average 4.9% in the fourth quarter, while sales probably increased 1.8%.

 

Asian stocks rose after US retail sales topped estimates and the World Bank raised its global growth forecast. The Nikkei 225 (+2.50%), Hang Seng (+0.49%) and the S&P/ASX 200 (+0.64%) all advanced. Toyota Motor Corp, a company that gets 31% of its revenue from North America, added +1.5%. OZ Minerals Ltd jumped +14% after Morningstar Inc said the copper producer may see earnings rise. Anhui Conch Cement Co soared +5.9% in Hong Kong after saying it expects 2013 profit to surge about 50%. Hitachi Ltd rose +4.1% after Nomura Holdings Inc said the company may report record third quarter profit.