Morning Spread

Morning Spread

Tuesday 19th April 2016
IndexLevelChg (%)
UK Market6401.70+0.83
Dow Indust Avg18004.16+0.60
S&P 5002094.34+0.65
Nasdaq Composite4960.02+0.44
Nikkei 22516874.44+3.68
Hang Seng21428.25+1.26
IndexLevelChg (%)
Nymex 1m40.32+1.36
Gold Spot1242.29+0.80
GBP/USD1.4299-0.16
GBP/EUR1.2632+0.20
EUR/USD1.1320-0.04
USD/JPY109.16-0.28

European equities climbed this morning, mirroring gains on Wall Street and in Asia, with a rally in commodity related stocks and some encouraging company updates supporting the market. The ESTX 50 (+1.24%), CAC 40 (+1.28%), Dax (+1.13%) and the UK markets (+0.83%) all posted gains in early trading. Anglo American, Glencore, Rio Tinto and BP all rose between +1.2% and +3.9% after key base metals held their gains from the previous session and crude oil advanced following an oil worker strike in Kuwait. L’Oreal rose +4.6% after pledging to outperform the market in 2016 and confirmed its ambition to achieve another year of sales and profit growth after first quarter sales rose more than expected. Associated British Foods Plc rose +1.8% after reporting first half earnings that beat analyst estimates.

US stocks climbed as investors braced for a flurry of corporate earnings reports through the week. The Dow Jones Industrial Average (+0.60%), S&P 500 (+0.65%) and the Nasdaq Composite (+0.44%) all increased. A recent rebound in oil and signs that the US economy is slowly improving has helped stocks rally from a steep selloff earlier this year. Chevron added +1.51% as crude oil prices steadied from earlier losses caused by the collapse of talks among major producers to tackle a stubborn global surplus. Netflix sank -12% in extended trading after its first quarter report disappointed investors. Walt Disney rose +2.93% after Jungle Book dominated the weekend box office, grossing more than $100 million. Hasbro jumped +5.79% after reporting better than expected quarterly profit and revenue.

Asian stocks rose, following US shares higher as crude oil advanced for the first time in five days. Japanese shares rebounded from yesterday’s rout on speculation the central bank may boost stimulus in the wake of the recent earthquake. The S&P/ASX 200 (+1.01%), Hang Seng (+1.26%) and the Nikkei 225 (+3.68%) all advanced. Shares of Japanese companies which halted operations after the earthquake partially recovered yesterday’s losses. Renesas Electronics Corp rose +6.8% and HIS Co added +5.4% after dropping -12% yesterday. Sony surged +6.5% as concerns eased about its plant closing in the area. Honda Motor Co jumped +4.5% and Mazda Motor Corp rallied +7.2% as the yen weakened amid speculation the BOJ may boost stimulus to combat economic fallout from the quake.