Morning Spread

Morning Spread

Wednesday 18th February 2015
IndexLevelChg (%)
UK Market6908.61+0.15
Dow Indust Avg18047.58+0.16
S&P 5002100.34+0.16
Nasdaq Composite4899.27+0.11
Nikkei 22518199.17+1.18
Hang Seng24832.08+0.19
IndexLevelChg (%)
Nymex 1m52.76-1.44
Gold Spot1209.55-0.02
GBP/USD1.5419-0.36
GBP/EUR1.3524+0.51
EUR/USD1.1400-0.15
USD/JPY119.14-0.03

European shares rose on fresh optimism that Greece would reach an agreement with its international lenders. The ESTX 50 (+0.77%), UK markets (+0.21%), CAC 40 (+0.88%) and the Dax (+0.59%) all posted gains in early trading. Energy stocks and banks were among the biggest gainers this morning after Eni SpA and Credit Agricole SA posted results. Eni rose +3.5% after posting fourth quarter operating profit of €2.32 billion, beating estimates of €1.9 billion. Credit Agricole jumped +4% after reporting better than forecast fourth quarter profit on higher earnings at the investment bank and lower provisions for doubtful loans. Vivendi SA gained +1.6% after receiving an offer of €3.9 billion for its 20% stake in Numericable-SFR from the company and Altice France. De La Rue Plc advanced +4.4% amid reports of a possible bid for the company. Intu Properties Plc slid -1.8% as Barclays Plc recommended selling the shares.

 

US stocks rose as optimism grew that a debt deal would be reached with Greece and as bond prices sold off. The Dow Jones Industrial Average (+0.16%), S&P 500 (+0.16%) and the Nasdaq Composite (+0.11%) all increased. US listed shares of National Bank of Greece ended up +1.2% after falling more than -13% earlier in the session. Shares of Transocean Ltd recovered to close flat a day after the company slashed its dividend and said its chief executive stepped down. Celsus Therapeutics plummeted -81.4% after the company’s lead treatment failed a mid-stage study. VBL Therapeutics Inc dropped -65.5% after it said it would stop developing its experimental inflammatory treatment to sight ulcerative colitis and psoriasis. Noble Corp rose +5.1% and Diamond Offshore Drilling Inc added +4.9% after crude prices rose +1.4%.

 

Asian stocks rose as pessimism over the Greek debt saga receded somewhat, while the dollar held firm against the yen after spiking up on higher US debt yields. The Nikkei 225 (+1.18%), Hang Seng (+0.19%) and the S&P/ASX 200 (+0.98%) all gained. Toyota Motor Co, the world’s largest maker of cars, gained +2% in Tokyo. China Petroleum & Chemical Corp gained +4.7% in Hong Kong amid optimism China will merge state owned oil producers. Noble Group Ltd rebounded +1.9% in Singapore after rejecting a research report questioning its accounting practices. Toll Holdings Ltd soared a record +47% after Japan Post Holdings Co agreed to buy the Australian logistics company.