Morning Spread

Morning Spread

Tuesday 17th November 2015
IndexLevelChg (%)
UK Market6256.25+1.79
Dow Indust Avg17483.01+1.38
S&P 5002053.19+1.49
Nasdaq Composite4984.62+1.15
Nikkei 22519630.63+1.22
Hang Seng22264.25+1.15
IndexLevelChg (%)
Nymex 1m41.70-0.10
Gold Spot1080.47-0.21
GBP/USD1.5182+0.20
GBP/EUR1.4247+0.15
EUR/USD1.0657-0.35
USD/JPY123.29-0.09

European shares climbed higher in early trading, with encouraging updates from several companies. The ESTX 50 (+1.57%), UK markets (+1.68%), CAC 40 (+1.79%) and the Dax (+1.46%) all posted gains this morning. Randstad rose +7.5% after saying sales had accelerated since it reported third quarter results and that it expected higher margins in 2016. United Internet was up more than +4% after reporting a rise in third quarter core profit and revenues as the numbers of subscribers continued to rise. European stocks dealing in defence and military sectors also rose, as France launched new strikes on targets in Syria. BAE Systems rose +1.2%, Airbus advanced +1.9% and Meggitt progressed +1.3%.  

 

US stocks gained as investors bet Friday’s attacks in Paris would have little long term impact on the US economy and corporate earnings. The Dow Jones Industrial Average (+1.38%), S&P 500 (+1.49%) and the Nasdaq Composite (+1.15%) all advanced. US oil prices rose after French air strikes in Syria in reaction to multiple attacks in Paris on Friday. Exxon’s shares jumped +3.58% and Chevron rallied +4.38%. Companies linked to travel and leisure took a hit. American Airlines dropped -1.43%, United Continental -1.22% and Delta Airlines -2.16%. Cruise operator Carnival Corp fell -1.53%, while travel company Expedia was down -2.13%. Warren Buffett told CNBC he was not selling any securities as a result of the attacks.

 

Asian stocks followed US shares higher as a weakening yen boosted Japanese equities and concern eased from the attack in Paris. The Nikkei 225 (+1.22%), Hang Seng (+1.15%) and the S&P/ASX 200 (+2.29%) all rallied. Toyota Motor Corp, which gets 78% of sales outside Japan, climbed +1.8%. Mazda Motor Corp, which gets 20% of its revenue from Europe, jumped +3.6%. Westpac Banking Corp climbed +1.9% and Commonwealth Bank of Australia advanced +3.1%. Citic Securities rose +2.1% after saying that it plans to select a new chairman. JFE Holdings jumped +6.8%, while Nippon Steel & Sumitomo Metal Corp rose +3.5%.