Morning Spread

Morning Spread

Tuesday 18th August 2015
IndexLevelChg (%)
UK Market6513.40-0.56
Dow Indust Avg17545.18+0.39
S&P 5002102.44+0.52
Nasdaq Composite5091.70+0.86
Nikkei 22520554.47-0.32
Hang Seng23474.97-1.43
IndexLevelChg (%)
Nymex 1m41.45-1.00
Gold Spot1119.65+0.17
GBP/USD1.5655-0.42
GBP/EUR1.4139+0.48
EUR/USD1.1072-0.06
USD/JPY124.26+0.08

European stocks were negative this morning, despite buoyant earnings, with traders reacting to the after effects of surprisingly weak US data yesterday and market declines in Asia exacerbated by relatively light trading volumes. The ESTX 50 (-0.23%), CAC 40 (-0.22%), Dax (-0.17%) and the UK markets (-0.27%) all posted losses in early trading. Jyske Bank A/S advanced +3.7% after saying earnings beat its forecasts. Glencore Plc climbed +1.1% after Harris Associates LP, one of its biggest shareholders, increased its stake in the company. Commodity producers led the declines with BHP Billiton Ltd and Antofagasta Plc both slipping -1.1% or more.

 

US stocks rose after strong economic data boosted the housing sector and as investors bought recently beaten up shares in biotech and media. The Dow Jones Industrial Average (+0.39%), S&P 500 (+0.52%) and the Nasdaq Composite (+0.86%) all increased. Disney gained +1.8% following the announcement that it plans two theme park expansions that will bring the celebrated Star Wars movie franchise to life. Tesla rose +4.9% after Morgan Stanley raised its price target on the stock to $465 from $280 and said Tesla was its top pick among US car manufacturers. Estee Lauder fell -6.8% after reporting lower than expected quarterly sales.

 

Asian shares fell on worries that cooling demand in China will weigh on the trade reliant region, while the dollar held firm after strong US housing data offset concerns from a weak manufacturing report. The S&P/ASX 200 (-1.20%), Hang Seng (-1.12%) and the Nikkei 225 (-0.32%) all retreated. Kawasaki Kisen Kaisha Ltd gained +1.7% after the price of shipping commodities advanced. Sawai Pharmaceutical Co added +2.2% after Iwai Cosmo Securities Co initiated coverage of the company with an outperform rating. JX Holdings Inc slid -3.6% as crude prices declined and after Nomura Holdings Inc cut its rating on the stock.