Morning Spread

Morning Spread

Tuesday 17th May 2016
IndexLevelChg (%)
UK Market6206.90+0.90
Dow Indust Avg17710.71+1.00
S&P 5002066.66+0.98
Nasdaq Composite4775.46+1.22
Nikkei 22516652.80+1.13
Hang Seng20118.80+1.18
IndexLevelChg (%)
Nymex 1m48.22+1.05
Gold Spot1273.42-0.06
GBP/USD1.4494-0.61
GBP/EUR1.2791+0.57
EUR/USD1.1332+0.03
USD/JPY109.41-0.41

European stocks rose this morning, led by gains in commodity producers. The ESTX 50 (+0.99%), CAC 40 (+1.09%), Dax (+1.09%) and the UK markets (+0.89%) all posted gains in early trading. Anglo American Plc and BHP Billiton Ltd added +1.5% or more, following metal prices higher. Iliad SA rose +1.5% after reporting an increase in sales for the first quarter. Taylor Wimpey Plc climbed +4% after the company said it plans to pay a special dividend in July 2017 and increase its regular pay-out as it generates excess cash. Vodafone Group Plc gained +2.1% after reporting quarterly sales growth on its network that beat estimates.

 

US stocks rallied, helped by a jump in Apple shares and gains from energy stocks that were backed by stronger oil prices. The Dow Jones Industrial Average (+1.00%), S&P 500 (+0.98%) and the Nasdaq Composite (+1.22%) all increased. Apple shares rose +3.7% after Berkshire Hathaway reported a stake worth about $1 billion in the company. The S&P energy sector gained +1.6% as oil prices hit six month highs. Crude prices were supported by worries about global supply outages and as long time bear Goldman Sachs sounded more positive on the market. Anacor Pharmaceuticals soared +57.2% after Pfizer said it would buy the company in a deal valued at $5.2 billion. Tribune Publishing climbed +22.8% after Gannett raised its buyout offer to $15 per share. Gannett closed up +2.2%.

 

Asian stocks climbed, tracking gains in US equities after Berkshire Hathaway disclosed a stake in Apple and oil companies climbed on higher crude prices. The S&P/ASX 200 (+0.69%), Hang Seng (+1.18%) and the Nikkei 225 (+1.13%) all rose. Japanese exporters rose as the yen stabilised. Komatsu Ltd rising +3.2%. Kikkoman Corp, a company that gets about 40% of revenue from North America, added +1.6%. Inpex Corp rose +3.2% and JGC Corp climbed +3.2% as the price of crude increased. Mitsubishi UFJ Financial Group Inc rose +1.3% as a plan to buy back as much as 1.67% of its own shares outweighed a profit forecast that missed analyst estimates.