Morning Spread

Morning Spread

Monday 18th August 2014
IndexLevelChg (%)
UK Market6728.80+0.59
Dow Indust Avg16662.91-0.30
S&P 5001955.06-0.01
Nasdaq Composite4464.93+0.27
Nikkei 22515322.60+0.03
Hang Seng24955.46-0.12
IndexLevelChg (%)
Nymex 1m96.57-0.80
Gold Spot1301.61-0.25
GBP/USD1.6732-0.23
GBP/EUR1.2499+0.34
EUR/USD1.3386-0.11
USD/JPY102.48-0.12

European stocks advanced as Ukraine and Russia met for talks. The ESTX 50 (+1.26%), CAC 40 (+1.31%), Dax (+1.43%) and the UK markets (+0.65%) all posted gains in early trading. United Internet AG added +3.3% after buying a 10.7% stake in Rocket Internet AG. Rio Tinto Group rose +1.1% as the company is reviewing a controlling stake in a company that owns a deposit with potential copper and gold reserves worth more than $ 60 billion. Neste Oil Oyj fell -2.6% after the Finnish company said one of its refineries will have a lower production. Commerzbank AG advanced +1.1% after Boersen-Zeitung reported that profit margins in Germany’s private banking industry will probably rise. Deutsche Telekom AG added +1.7% after Focus magazine reported that Europe’s largest phone company may buy cable providers such as Tele Columbus GmbH or Primacom AG.  

US stocks erased early losses as increasing violence in Ukraine sent oil prices to the biggest increase in a month. The Dow Jones Industrial Average (-0.30%) declined, the S&P 500 (-0.01%) was flat and the Nasdaq Composite (+0.27%) increased. Monster Beverage soared +30% after Coca-Cola agreed to swap some brands and buy a 17% stake in the company for about $2.15 billion, increasing its exposure to the growing energy drink market. Coca-Cola added +1.7% for the biggest gain in the Dow. Applied Materials Inc jumped +6.3% after forecasting sales that may top analysts’ estimates. Vringo Inc plummeted -72% after Google won its bid to overturn a $30.5 million patent infringement verdict. The US Court of Appeals for the Federal Circuit in Washington determined that the Vringo patents in the case were invalid.

Asian stocks fluctuated as health care shares gained while banks slid along with consumer companies. The S&P/ASX 200 (+0.37%) and Nikkei (+0.03%) advanced, while the Hang Seng (-0.12%) declined. Chugai Pharmaceutical Co soared +15% after it was reported that Roche Holding AG is in talks to buy the rest of the company. National Australia Bank Ltd slid -1.4% after saying it will set aside more than £245 million for compensation related to UK insurance and hedging products. Nintendo gained +4% after Mario Kart 8 surpassed 1 million units in sales in the US. Lenovo Group Ltd jumped to a 14 year high in Hong Kong, climbing +1.9%, after International Business Machines Corp cleared a security review of the sale of its low end server business to the Beijing based company.