Morning Spread

Morning Spread

Wednesday 17th February 2016
IndexLevelChg (%)
UK Market6011.26+1.02
Dow Indust Avg17733.10+0.53
S&P 5002077.99+0.31
Nasdaq Composite4844.91+0.21
Nikkei 22515599.66+1.07
Hang Seng20169.98+0.66
IndexLevelChg (%)
Nymex 1m46.68+1.02
Gold Spot1284.64+0.48
GBP/USD1.4286-0.77
GBP/EUR1.2692+0.33
EUR/USD1.1256+0.44
USD/JPY104.21+0.15

European stocks advanced as concern abated that the UK will exit the European Union. The ESTX 50 (+1.33%), CAC 40 (+1.15%), Dax (+1.06%) and the UK markets (+1.06%) all posted gains in early trading. Campaigns on whether the UK should leave or stay in the EU were suspended after Labour Party member Jo Cox, who backed “Remain”, was murdered while she met constituents in her electoral districts. Randgold Resources Ltd, which had benefited from investor demand for gold as a haven in the past two days, declined -4.5%. Ericsson AB lost -1.5% after saying it received a request from US authorities in 2013to answer questions relating to its operations. A report earlier said the company is being investigated on suspicion of corruption.

US stocks rose as investors digested the implications of a British politicians death on the country’s impending referendum on whether to leave the European Union. The Dow Jones Industrial Average (+0.53%), S&P 500 (+0.31%) and the Nasdaq Composite (+0.21%) all increased. Merck shares rose +2.5%, propping up the Dow and S&P, after positive clinical trial results for cancer treatment Keytruda. Cavium fell -17.5% after saying it would buy QLogic for about $1.36 billion. QLogic shares rose +9.3%. Jabil Circuit Inc rose +1.9%, erasing earlier losses after the Apple Inc supplier released a weak outlook for the fourth quarter. Apple Inc gained +0.42%.

Asian stocks rose as the yen halted a five day advance while speculation grew that the UK won’t vote to leave the European Union. The S&P/ASX 200 (+0.32%), Hang Seng (+0.66%) and the Nikkei 225 (+1.07%) all advanced. Sumco Corp climbed +5.3% after falling -6.5% in the previous session. And Alps Electric Co added +2.3% after dropping -6.3% on Thursday. Tokuyama Corp surged +6.9% after Mitsubishi UFJ Morgan Stanley Securities Co boosted its target price on the stock, citing a recovery in its finances. Sky Perfect JSAT Holdings Inc sank -5.6% after cutting its profit forecast, citing a delay in a satellite launch.