Morning Spread

Morning Spread

Tuesday 19th August 2014
IndexLevelChg (%)
UK Market6775.76+0.51
Dow Indust Avg16838.74+1.06
S&P 5001971.74+0.85
Nasdaq Composite4508.31+0.97
Nikkei 22515449.79+0.83
Hang Seng25122.95+0.67
IndexLevelChg (%)
Nymex 1m96.76+0.36
Gold Spot1300.70+0.18
GBP/USD1.6652+0.48
GBP/EUR1.2475-0.38
EUR/USD1.3347-0.11
USD/JPY102.62-0.05

European stocks advanced after several companies posted earnings. The ESTX 50 (+0.41%), UK markets (+0.45%), CAC 40 (+0.30%) and the Dax (+0.90%) all posted gains in early trading. A.P.Moeller-Maersk A/S jumped +4% after raising its full year profit forecast. Imperial Tobacco Group added +1.7% after reporting a smaller decline than analysts had predicted. ThyssenKrupp AG advanced +1.9% following a report that it plans to dispose of some businesses. AstraZeneca Plc gained +1.2% after saying the US Justice Department closed an investigation into its Plato trial, which compared its blood thinning drug Brilinta with Sanofi and Bristol-Myers Squibb Co’s Plavix. Sixt SE advanced +4.5% after saying second quarter earnings rose from a year earlier.  

 

US stocks rose as tensions eased over global conflicts. The Dow Jones Industrial Average (+1.06%), S&P 500 (+0.85%) and the Nasdaq Composite (+0.97%) all advanced. Dollar General surged +12% after offering $9.7 billion for Family Dollar, which rallied +4.9%. Achillion Pharmaceuticals Inc advanced +3.1% after Deutsche Bank raised the stock to “buy” from “hold”. Delta Air gained +2.5% while Southwest Airlines added +3.6% as Brent crude slid -1.8% to a 14 month low. Lennar Corp increased +1.7% and D.R.Horton Inc jumped +1.4% after a report showed confidence rose in August, indicating the industry is making more headway after weakness earlier this year. Monster Beverage Corp lost -5.4%, the most in the S&P 500, after Jefferies Group LLC downgraded the stock to “hold” from “buy”, saying it was fully valued.

 

Asian stocks rose after confidence in the US housing industry climbed to the highest level in seven months and tensions eased over global political conflicts. The Nikkei 225 (+0.83%), Hang Seng (+0.65%) and the S&P/ASX 200 (+0.66%) all advanced. Amcor Ltd climbed +4.6% in Sydney after posting earnings that topped analyst estimates. Don Quijote Holdings Co sank -3.7% in Tokyo after forecasting little change in profits. Dick Smith Holdings Ltd surged +8.8% in Sydney after saying it will open about 20 stores next year. China Medical System Holdings Ltd surged +7% in Hong Kong after saying net income in the first half climbed 31% from a year earlier. Terumo climbed +3.5% in Tokyo after Credit Suisse upgraded the shares to “outperform” from “neutral”, citing an expected improvement in profit margins at its hospital business as costs are cut.