Morning Spread

Morning Spread

Monday 15th June 2015
IndexLevelChg (%)
UK Market6738.00-0.69
Dow Indust Avg17898.84-0.78
S&P 5002094.11-0.70
Nasdaq Composite5051.10-0.62
Nikkei 22520387.79-0.09
Hang Seng26861.81-1.53
IndexLevelChg (%)
Nymex 1m59.67-0.48
Gold Spot1179.02-0.22
GBP/USD1.5514+0.30
GBP/EUR1.1232-0.01
EUR/USD1.1232-0.30
USD/JPY123.48-0.07

European stocks fell this morning, impacted by a lack of progress on Greece’s debt problems. The ESTX 50 (-1.00%), UK markets (-0.51%), CAC 40 (-0.84%) and the Dax (-1.10%) all posted losses in early trading. Talks on ending a deadlock between Greece and its international creditors broke up in failure yesterday, with European leaders venting their frustration as Athens stumbled closer towards a debt default that threatens its future in the euro. Greece’s ASE Index tumbled -6.7%, with National Bank of Greece SA and Eurobank Ergasias SA dropping more than -10%. Metro AG fell -2.7% after agreeing to sell its Galeria Kaufhof stores to Hudson’s Bay Co for €2.83 billion. Deutsche Annington Immobilien SE slid -6% after saying its funds from operations per share will be hurt by a planned capital increase of about €2.25 billion needed to finance the acquisition of Sudewo Group.

 

US stocks fell on Friday as Greek debt talks hit a stalemate and as concern over how soon the Federal Reserve might raise interest rates kept investors cautious. The Dow Jones Industrial Average (-0.78%), S&P 500 (-0.70%) and the Nasdaq Composite (-0.62%) all decreased. Positive consumer sentiment and other data added to views the economy may be regaining momentum, which increased anxiety among investors ahead of the Federal Open Market Committee meeting, the US central bank’s last meeting before September. Twitter Inc was up +0.2% after CEO Dick Costolo said he was stepping down. Eli Lilly dropped -2.7% after Reuters reported the Alzheimer’s Association may not offer an early look at trial data on an experimental drug from Eli Lilly. News of the impending release had led to a jump in the company’s shares. Eli Lilly’s stock had gained +10.3% from Monday’s close to Thursday’s finish.

 

Asian shares dropped, following a selloff in Chinese shares as investors reacted to recent news of fresh tightening in margin financing. The Nikkei 225 (-0.09%), Hang Seng (-1.48%) and the S&P/ASX 200 (-0.12%) all retreated. Nichirei Corp surged +7% after Nomura Holdings Inc boosted its rating on the company. Inpex Corp fell -1.6% as crude prices dropped. Japan Tobacco Inc fell -0.9% after it was reported that the government will push back the sale of its stake in the company. Citic Securities Co and Haitong Securities Co both dropped -1.5% after the securities regulator said it plans to impose a cap on the amount of money brokerages can lend to margin traders. China Merchants Securities Co dropped -2.9% in Shanghai.