Morning Spread

Morning Spread

Friday 19th September 2014
IndexLevelChg (%)
UK Market6871.12+0.76
Dow Indust Avg17265.99+0.64
S&P 5002011.36+0.49
Nasdaq Composite4593.43+0.68
Nikkei 22516321.17+1.58
Hang Seng24306.16+0.57
IndexLevelChg (%)
Nymex 1m92.55-0.56
Gold Spot1221.63-0.29
GBP/USD1.6382+0.01
GBP/EUR1.2725+0.36
EUR/USD1.2874-0.38
USD/JPY109.05-0.35

European stocks rallied as Scotland voted to reject independence from the UK. The ESTX 50 (+0.56%), CAC 40 (+0.38%), Dax (+0.57%) and the UK markets (+0.57%) all posted gains in early trading. Lloyds rose +2.3%, while Royal Bank of Scotland gains +4%. Both banks said they would shift their domicile out of Scotland if the country voted for independence. Aggreko Plc climbed +1.6% while Babcock International Group Plc increased +3.1%. Vivendi advanced +1% after saying it will sell GVT for €4.66 billion in cash, a 7.4% in the combination of the companies Brazilian businesses and a 5.7% stake in Telecom Italia SpA. SAP retreated -1.8% after agreeing to pay $129 a share for Concur, a 20% premium over the September 17th closing price, in a deal valued at about $7.4 billion. The deal gives SAP a developer of software that helps businesses manage travel expenses.

 

US stocks rose as employment data boosted optimism in the economy. The Dow Jones Industrial Average (+0.64%), S&P 500 (+0.49%) and Nasdaq Composite (+0.68%) all increased. ConAgra increased +4.6% after reporting earnings that exceeded the average analyst estimate. AOL Inc jumped +3.3% after a strategist at BGC Financial LP said investors should position themselves for gains in the stock. Kohl’s added +1.6% after the stock was raised to “buy” from “neutral” at Citigroup. MSCI Inc climbed +5.8% after increasing its share buyback plans. Rite Aid dropped -19% after saying net income for 2015 was expected to be less than previously forecast. CME Group Inc gained +2.8%. Citigroup Inc and Prudential Financial Inc both jumped more than +2.4%.

 

Asian stocks rose as fewer Americans filed for jobless claims, the yen held at a six year low against the dollar and Scotland voted to reject independence. The S&P/ASX 200 (+0.32%), The Hang Seng (+0.80%) and the Nikkei 225 (+1.58%) all advanced. Japanese exporters climbed with Honda rising +1.2% and Canon Inc gaining +1.4%. IHI jumped +5.1% after Credit Suisse raised its rating on the stock to “outperform” from “neutral” and increased its price target forecast to 600 yen from 450 yen. Alacer soared +11% and OceanaGold gained +3.1%. OceanaGold whose approaches to Alacer began in February, said it is in talks with Alacer and would only be willing to pursue a deal with the cooperation of the Alacer board.