Morning Spread

Morning Spread

Wednesday 18th December 2013
IndexLevelChg (%)
UK Market6505.89+0.30
Dow Indust Avg15875.26-0.60
S&P 5001781.00-0.31
Nasdaq Composite4023.68-0.14
Nikkei 22515587.80+2.02
Hang Seng23143.82+0.32
IndexLevelChg (%)
Nymex 1m97.11-0.11
Gold Spot1232.45+0.11
GBP/USD1.6354-0.57
GBP/EUR1.1892+0.59
EUR/USD1.3751-0.03
USD/JPY

European stocks rose as investors waited for Federal Reserve to decide whether to reduce its monthly asset purchases. The ESTX 50 (+0.76%), FTSE 100 (+0.33%), CAC 40 (+0.59%) and the DAX (+0.77%) all posted gains in early trading TUI gained +3.2% after posting net income of €4.3 million for the financial year ended 30th September. The average analyst estimate had called for a loss. Elektrobit surged +17% after forecasting operating profit of about €8 million in 2013. Technip slid -7.6% after saying the operating margin for its subsea division will drop to about 5% before recovering to at least 12% next year. It has forecast a 14% margin for the unit in 2013. Persimmon Plc gained +2.3%. Marks & Spencer Group Plc lost -2.5% after UBS AG downgraded the shares.

 

US stocks fell before Federal Reserve policy makers announce plans for their monthly bond buying program. The Dow Jones Industrial Average (-0.06%), S&P 500 (-0.31%) and the NASDAQ Composite (-0.14%) all declined. Tenet Healthcare Corp fell -1.9% after Citigroup Inc said the industry’s November admissions were the weakest ever. 3M Co advanced +2.9% after the company projected a 2014 profit in a range whose top end exceeded analysts’ estimates. Boeing Co climbed +0.9% after authorising the largest share buyback in its history and boosting its dividend. Visa Inc climbed +2.7% after Susquehanna International Group said concern that Visa was losing position to MasterCard Inc was overdone. MasterCard Inc gained +0.2%. Frontier Communications Corp jumped +8.6% after agreeing to buy AT&T Inc’s Connecticut landline business and statewide fibre-optic network for $2 billion in cash to focus on more lucrative wireless services.

 

Asian stocks rose, led by an advance in Japanese equities, as the declining yen boosted exporters and investors await a Federal Reserve decision on its stimulus program. The Nikkei 225 (+2.02%) and the Hang Seng (+0.32%) both gained, while the S&P/ASX 200 (-0.14%) declined. Honda Motor Co, which gets 80% of its sales abroad, gained +3.1% as the yen weakened against the dollar. Toyota Motor Corp added +1.6%. Casio Computer Co climbed +5.7% in Tokyo after Morgan Stanley upgraded its recommendation on the shares to “overweight”. Wotif.com Holdings Ltd slumped -32% after the Australian online travel company said it will report lower profit. Hutchison Whampoa Ltd gained +3.3% after it was reported that its retail arm would be valued at more than $20 billion in an initial public offering.