Morning Spread

Morning Spread

Friday 17th July 2015
IndexLevelChg (%)
UK Market6780.95-0.23
Dow Indust Avg18120.25+0.39
S&P 5002124.29+0.80
Nasdaq Composite5163.18+1.26
Nikkei 22520650.92+0.25
Hang Seng25415.27+1.00
IndexLevelChg (%)
Nymex 1m50.80-0.22
Gold Spot1143.59-0.16
GBP/USD1.5643-0.23
GBP/EUR1.4360+0.06
EUR/USD1.0893+0.16
USD/JPY124.13-0.04

European shares were modestly negative this morning as several companies reported earnings. The ESTX 50 (-0.02%), UK markets (-0.07%), CAC 40 (-0.01%) and the Dax (-0.16%) all posted small declines in early trading. Ericsson advanced +5.6% after second quarter sales beat estimates. Electrolux climbed +2.8% after profit topped estimates. Volvo AB slid -5.7%, reversing earlier gains after its interim CEO said he doesn’t expect a rebound in Brazilian demand anytime soon. Givaudan SA rose +4.7% after reporting a surprise increase in first half earnings. 888 Holdings Plc rallied +7.8% after agreeing to buy Bwin.party Digital Entertainment Plc for £898.3 million. Marks & Spencer Group Plc lost -1.1% after John Dixon unexpectedly resigned.

 

US stocks gained with the Nasdaq finishing the session at a record high after earnings reports from eBay and Netflix boosted optimism. The Dow Jones Industrial Average (+0.39%), S&P 500 (+0.80%) and the Nasdaq Composite (+1.26%) all increased. Google’s shares jumped more than +13% after the bell following a better than expected profit report. Netflix surged +18.02% a day after reporting strong subscribers numbers. Citigroup rose +3.77% after reporting its highest quarterly profit in eight years. EBay rose +3.39% to a record high after reporting better than expected quarterly profit and announcing the sale of its enterprise business. Goldman Sachs fell -0.84% after posting its smallest quarterly profit in nearly four years.

 

Asian stocks rallied as the increased likelihood of an end to Greece’s debt crisis bolstered global equities. The Nikkei 225 (+0.25%), Hang Seng (+1.03%) and the S&P/ASX 200 (+0.01%) were all positive. Dai-ichi Life Insurance Co added +2%. CyberAgent Inc jumped +4.4% after Jefferies Group LLC initiated coverage on the company with a “buy” rating. Inpex Corp dropped -1% as crude prices headed for a third weekly decline. Sharp Corp fell -3.5% after a report the company will post an operating loss following a slump in smartphone display panel sales. Poly Real Estate Group Co and Gemdale Corp gained +3% in anticipation that government data will show new home prices continued to recover in June.