Morning Spread

Morning Spread

Tuesday 17th February 2015
IndexLevelChg (%)
UK Market6862.93+0.09
Dow Indust Avg18019.35+0.26
S&P 5002096.99+0.41
Nasdaq Composite4893.84+0.75
Nikkei 22517987.09-0.10
Hang Seng24784.88+0.24
IndexLevelChg (%)
Nymex 1m53.33+1.04
Gold Spot1221.68-0.80
GBP/USD1.5354-0.01
GBP/EUR1.3483-0.27
EUR/USD1.1388+0.27
USD/JPY118.79-0.34

European stocks fell after Greece rejected a proposal by the euro-area, increasing concern the nation won’t reach a deal before its bailout agreement expires this month. The ESTX 50 (-1.09%), UK markets (-0.15%), CAC 40 (-1.01%) and the Dax (-1.16%) all posted losses in early trading. TNT Express NV slid -7.4% after saying this year will be challenging, citing adverse trading conditions. Orange SA lost -1.7% after the company forecast a drop in earnings this year. Telefonica SA lost -1.9% after cutting the value of its Venezuelan assets by €2.8 billion as it switched to a lower exchange rate for last year. Pandora A/S rallied +14% after posting fourth quarter profit that beat analysts’ estimates and forecast continued growth in the year ahead. InterContinental lost -1.8% after reporting operating profit in 2014 fell from the prior year.

 

Asian stocks fell after talks between Greece and its creditors broke down. The Nikkei 225 (-0.10%) and the S&P/ASX 200 (-0.52%) both declined, while the Hang Seng (+0.24%) increased. Australia & New Zealand Banking Group Ltd dropped -2.5% after posting weaker than expected earnings. Kaisa Group Holdings Ltd slumped -3.5% in Hong Kong after reporting a surge in debt that renewed concerns about the developer’s solvency. Skymark Airlines Inc soared +164% after Kyodo News reported the troubled Japanese airliner may get support from Orix Corp. JFE Holdings Inc gained +4%. Inpex Corp dropped -2.3%. F@N Communications Inc tumbled -14% after reporting slowing monthly sales.

 

US markets were closed yesterday for Presidents Day holiday.