Morning Spread

Morning Spread

Wednesday 16th September 2015
IndexLevelChg (%)
UK Market6191.46+0.88
Dow Indust Avg16599.85+1.40
S&P 5001978.09+1.28
Nasdaq Composite4860.52+1.14
Nikkei 22518171.60+0.81
Hang Seng21966.66+2.38
IndexLevelChg (%)
Nymex 1m45.32+1.64
Gold Spot1109.55+0.39
GBP/USD1.5415-0.39
GBP/EUR1.3717+0.79
EUR/USD1.1238-0.40
USD/JPY120.38-0.01

European shares climbed this morning, buoyed by gains overnight in the US and Asia. The ESTX 50 (+1.07%), UK markets (+0.57%), CAC 40 (+1.29%) and the Dax (+0.86%) all posted gains in early trading. Glencore rose +3.9% after launching a $2.5 billion share placement late on Tuesday, while Inditex progressed by 3% after reporting higher sales. Richemont Jumped +7.4% after saying five month sales accelerated amid higher demand in Japan and Europe. Hermes International SCA added +5.3%. SABMiller soared +20% after saying that AB InBev intends to make a takeover proposal. AB InBev gained +8.5%.  

 

US stocks rallied after data showed healthy growth in consumer healthy growth in consumer spending but did little to remove uncertainty about whether the Federal Reserve will raise rates this week. The Dow Jones Industrial Average (+1.40%), S&P 500 (+1.28%) and the Nasdaq Composite (+1.14%) all increased. Speculation about when the Fed will end seven years of near zero interest rates has dogged Wall Street for several months, with the picture complicated by recent market turbulence that some as justification for the central bank to hold off. All 10 major S&P sectors were up, with the industrials index’s 1.68% gain leading the way, and GE rising +2.14%. Microsoft jumped +2.18%, making the biggest single contribution to the S&P’s rally. The financial index rose +1.65%, led by JPMorgan’s 2.15%. Fiat Chrysler Automobiles rose +3.42% after the United Auto Workers union said it will keep talking with the company to reach a new contract for the company’s US factory workers, delaying a possible strike at its most profitable operations.

 

Asian stocks rose, following a rally in US equities as investors sifted through the latest data on the world’s biggest economy before the Federal Reserve’s decision on interest rates. The Nikkei 225 (+0.81%), Hang Seng (+2.38%) and the S&P/ASX 200 (+1.60%) all advanced. Cnooc Ltd gained +1.5% in Hong Kong as crude futures advanced. Sony Corp rose +1.2% in Tokyo after saying it’s cutting the Japanese price of its Playstation 4 to maintain a sales lead through the year-end holiday shopping season. Samsung Heavy Industries Co surged +11% in Seoul on expectations that it would merge with Samsung Engineering Co.