Morning Spread

Morning Spread

Tuesday 17th June 2014
IndexLevelChg (%)
UK Market6769.01+0.21
Dow Indust Avg16781.01+0.03
S&P 5001937.78+0.08
Nasdaq Composite4321.11+0.24
Nikkei 22514975.97+0.29
Hang Seng23203.59-0.42
IndexLevelChg (%)
Nymex 1m106.40-0.47
Gold Spot1265.80-0.48
GBP/USD1.6966+0.12
GBP/EUR1.2511-0.05
EUR/USD1.3562-0.06
USD/JPY0.00980+0.15

European stocks climbed as investors awaited data that may show German investor confidence rose for the first time this year. The ESTX 50 (+0.49%), UK Markets (+0.20%), CAC 40 (+0.40%) and the DAX (+0.69%) all posted gains in early trading. Shire rallied +3.1% after Reuters reported it is hiring Citigroup as it may receive offers following a spate of deals in the industry.  Whitbread rose +3.6% after reporting like-for-like sales at Premier Inn jumped +9.5% in the first quarter, topping analysts’ estimates that predicted an increase of 7%. They rose 4.5% at Costa, exceeding projections of 4%. Renault SA added +1.3% and Daimler AG gained +1.8% after the European Automobile Manufacturers Association said car sales climbed +4.3% in May, with registrations increasing to 1.13 million vehicles from 1.09 million a year earlier. Ashtead Group Plc dropped -4.3% after reporting revenue that missed analysts’ projections. Fresnillo plc retreated -1.9%, Randgold Resources Ltd lost -2% and Polymetal International declined -2.5% as prices for gold, silver and platinum slid  

 

US stocks rose as corporate deals and growth in American manufacturing overshadowed escalating tension in Iraq. The Dow Jones Industrial Average (+0.03%), S&P 500 (+0.08%) and the Nasdaq Composite (+0.24%) all advanced. Covidien Plc surged +20% after Medtronic Inc agreed to buy the Irish company for $42.9 billion. Williams Cos jumped +19% after agreeing to buy control of Access Midstream Partners LP for $6 billion. General Electric Co dropped -0.8% after a group led by Siemens AG made a joint bid to carve up the energy unit of France’s Alstom SA. Yahoo! Inc slid -5.8% after Alibaba Group Holding reported a slowdown in quarterly revenue growth. Home Depot Inc rose +1.1% for the biggest gain in the Dow, as the homebuilder confidence report provided a sign the residential real estate market is stabilising after reeling from severe winter weather earlier this year.

 

Asian stocks fell after foreign direct investment in the world’s largest economy unexpectedly declined. The Hang Seng (-0.42%) and S&P/ASX 200 (-0.22%) both declined, while the Nikkei 225 (+0.29%) increased. Industrial & Commercial Bank of China Ltd retreated -1.3% in Shanghai and SoftBank Corp fell -2.5% in Tokyo, with financial and telecommunications companies posting the largest declines in the region. Mitsubishi UFJ Financial Group Inc fell -0.8%. Konica Minolta gained +6.2% after JPMorgan raised its rating to “overweight” from “neutral”. New World China Land Ltd plunged -17% in Hong Kong after a $2.4 billion plan by New World Development Ltd to privatise the China property business collapsed.