Morning Spread

Morning Spread

Thursday 15th September 2016
IndexLevelChg (%)
UK Market6683.26+0.15
Dow Indust Avg18034.77-0.18
S&P 5002125.77-0.06
Nasdaq Composite5173.77+0.36
Nikkei 22516405.01-1.26
Hang Seng23335.59+0.63
IndexLevelChg (%)
Nymex 1m43.46-0.28
Gold Spot1320.53-0.18
GBP/USD1.3219-0.20
GBP/EUR1.1765+0.37
EUR/USD1.1236-0.17
USD/JPY102.41+0.07

European stocks edged lower this morning, as a selloff prompted by concern about central bank’s willingness to use monetary tools to stimulate growth continued. The ESTX 50 (-0.13%), CAC 40 (-0.24%) and the Dax (-0.07%) all posted losses in early trading, while the UK markets (+0.02%) were flat. Wm Morrison Supermarkets Plc jumped +6.5% after reporting sales and earnings that beat analysts’ estimates. Moncler SpA added +3.5% on a report that Fosun International has had an interest in investing in the company. Banca Monte dei Paschi di Siena SpA rose +3.5%, leading gains among banks, after naming a new CEO. Hennes & Mauritz AB declined -2.6% after saying August sales were hurt by hot weather. Next Plc slid -4.1% after warning that the current quarter will be its toughest this year.

US stocks declined as investors thought about future interest rate hikes and cheaper oil dragged down energy shares. The Dow Jones Industrial Average (-0.18%) and the S&P 500 (-0.06%) both retreated, while the Nasdaq Composite (+0.36%) advanced. Speculation about the timing of the Federal Reserve’s next interest rate hike has shaken indexes following contrasting comments from Fed Officials. Monsanto agreed to be bought by Bayer, but its stock rose just +0.62% due to concerns about regulatory approvals. Vitae Pharmaceuticals shares more than doubled after Allergan said it would buy the company for $639 million. Allergan rose +1.78%. Ford fell -1.94% after saying 2017 financial performance would decline from this year’s levels. Exxon Mobil declined -0.72%.

Asian stocks retreated as investors grappled with the apparently diminishing ability of major central banks to stimulate growth. The S&P/ASX 200 (+0.23%) and the Hang Seng (+0.63%) both advanced, while the Nikkei 225 (-1.26%) retreated. Japanese banking and finance shares fell amid the uncertainty surrounding the Bank of Japan, with Mitsubishi UFJ closing -1.93% down, Mizuho down -1.62% and Nomura Holdings dropping -2.16%. Santos fell -2.85%, Oil Search was down -0.78% and Woodside Petroleum declined -1.06% as oil dropped in price. Japanese exporters suffered as the yen strengthened. Toyota lost -1.32%, Nissan dropped -2.42% and Sony retreated by -1.21%.