Morning Spread

Morning Spread

Tuesday 17th March 2015
IndexLevelChg (%)
UK Market6831.86+0.41
Dow Indust Avg17977.42+1.29
S&P 5002081.19+1.35
Nasdaq Composite4929.51+1.19
Nikkei 22519437.00+0.99
Hang Seng23901.49-0.20
IndexLevelChg (%)
Nymex 1m43.40-1.09
Gold Spot1154.07-0.07
GBP/USD1.4786+0.35
GBP/EUR1.3957-0.39
EUR/USD1.0594+0.04
USD/JPY121.38+0.01

European stocks were mixed amid investor speculation that the Federal Reserve won’t rush to raise interest rates after weaker than expected US data. The ESTX 50 (+0.09%), UK markets (+0.54%) and the CAC 40 (+0.10%) all posted gains in early trading, while the Dax (-0.09%) was slightly down. J Sainsbury Plc added +1.5% after reporting a lower than estimated decline in quarterly same store sales. Antofagasta Plc slid -2.2% after reporting full year earnings and sales that missed estimates. Volkswagen rose +2.2% after industry data showed new car registrations in Europe rose 7% in February.

 

US stocks rallied as the US dollar eased back from its recent peak and worries eased about the timing of a Federal Reserve interest rate hike. The Dow Jones Industrial Average (+1.29%), S&P 500 (+1.35%) and the Nasdaq Composite (+1.19%) all advanced. Energy shares rallied despite further losses in oil prices. The S&P energy index was up 1.4%, while US crude oil settled 96 cents down at $43.88 a barrel and earlier in the session hit its lowest since March 2009. Exxon Mobil was up +1.1%. Salix Pharmaceuticals rose +2% after it agreed to an increased $173 share offer from Valeant Pharmaceuticals. Valeant shares were up +2.5%. Avon Products was down -5.7% after S&P Dow Jones Indices announced that the stock would be moved out of the S&P 500 this month.

 

Asian shares rose as investors speculated that weaker than expected US data could prompt the Federal Reserve to express caution this week on the timing of a future rate hike. The Nikkei 225 (+0.99%) and the S&P/ASX 200 (+0.77%) both gained, while the Hang Seng (-0.20%) declined. Tokyo Gas co jumped +2.3% after a report it may buy back 50 billion yen in shares next fiscal year. Hitachi Ltd and Mitsubishi Heavy Industries Ltd gained at least +1.8% on a report the companies plan to target return on equity of more than 10%. Guangzhou R&F Properties Co sank -7.6% in Hong Kong after posting full year profit that missed estimates. Pigeon Corp surged +4.7% after Credit Suisse Group AG raised its rating on the stock.