Morning Spread

Morning Spread

Monday 16th February 2015
IndexLevelChg (%)
UK Market6873.96+0.01
Dow Indust Avg18019.35+0.26
S&P 5002096.99+0.41
Nasdaq Composite4893.84+0.75
Nikkei 22518004.77+0.51
Hang Seng24726.53+0.18
IndexLevelChg (%)
Nymex 1m52.30-0.91
Gold Spot1233.71+0.35
GBP/USD1.5413-0.11
GBP/EUR1.3497-0.16
EUR/USD1.1419+0.22
USD/JPY118.59+0.14

European stocks were mixed as euro area creditors voiced scepticism that a breakthrough was within reach over Greece’s financing. The ESTX 50 (-0.09%), UK markets (-0.12%), CAC 40 (+0.04%) and the Dax (-0.20%) all alternated between gains and losses in early trading. Actelion Ltd lost -1.1% after forecasting annual profit growth will slow and said the strength of the Swiss franc will hurt earnings. Altice SA rose +4.3% and Bouygues SA added +2.9% after it was reported that Altice is stepping up plans for a potential takeover of Bouygues Telecom. SABMiller Plc added +2.1% after a report that a consortium led by 3G Capital Partners is considering a bid for the company. Conwert Immobilien Invest SE jumped +8% after Deutsche Wohnen AG said it will bid for its Austrian competitor.

 

US stocks closed with the S&P at a record high on Friday, as energy shares gained with oil prices. The Dow Jones Industrial Average (+0.26%), S&P 500 (+0.41%) and the Nasdaq Composite (+0.75%) all advanced. The S&P energy sector closed up +1.95% as oil topped $60 for the first time in 2015 despite persistent worries about oversupply. In contrast, the S&P utilities sector was the worst performer, falling -1.6%, closing down for the third day in a row, as many investors are leaving safe haven utilities stocks as they anticipate US Federal Reserve interest rate increases later this year. American Express dropped -3% after several brokers slashed price targets for the company after Costco said it would stop accepting its card in its US stores. Kraft Foods lost -3.3% after posting quarterly results and said its CFO would leave her role and two other senior executives would depart the company. Cisco Systems was the top gainer in the Dow, jumping +8.2%. Apple advanced +1.2%, gaining +6.3% over the previous four sessions.

 

Asian stocks rose as data showed Japan’s economy exiting recession. The Nikkei 225 (+0.51%), Hang Seng (+0.18%) and the S&P/ASX 200 (+0.19%) all advanced. BYD Co jumped +11% in Hong Kong on speculation Apple Inc will enter the industry. Noble Group Ltd slumped -8.3% after the trading company rejected a research report questioning its accounting practices. New Zealand’s Contact Energy Ltd dropped -9% after first half profit plunged. Yokohama Rubber Co jumped +5.5% after raising its dividend forecast. Asics Corp tumbled -10% after the company projected profit that missed estimates. Kuraray Co dropped -5.7% after full year net income forecasts disappointed analysts. Mitsubishi UFJ Financial Group Inc gained +3.1%.