Morning Spread

Morning Spread

Wednesday 1st April 2015
IndexLevelChg (%)
UK Market6808.87+0.53
Dow Indust Avg17776.12-1.11
S&P 5002067.89-0.88
Nasdaq Composite4900.89-0.94
Nikkei 22519034.84-0.90
Hang Seng25082.75+0.73
IndexLevelChg (%)
Nymex 1m47.33-0.57
Gold Spot1183.92+0.02
GBP/USD1.4808+0.24
GBP/EUR1.3806-0.21
EUR/USD1.0726-0.02
USD/JPY120.15-0.17

European stocks rose, reversing earlier losses, after equities completed their biggest quarterly advance since 2009. The ESTX 50 (+0.36%), UK markets (+0.46%), CAC 40 (+0.57%) and the Dax (+0.32%) all posted gains in early trading. Barry Callebaut surged +8% after it reported higher half year sales and profits, as cuts helped counter the impact of the surging Swiss franc. Neopost dropped -6.7% after posting disappointing results. GlaxoSmithKline Plc and Novo Nordisk A/S climbed +1.8% helping push up health care stocks. Barclays Plc and Banco Popular Espanol SA both gained more than +2%, leading banks higher.

 

US stocks fell, dragged down by energy and healthcare shares. The Dow Jones Industrial Average (-1.11%), S&P 500 (-0.88%) and the Nasdaq Composite (-0.94%) all retreated. Oil was pressured as Iran and six world powers continued talks on a nuclear deal that could see Iran increase oil exports. Exxon Mobil Corp fell -0.7%. Energy companies have dropped for three consecutive quarters, the longest stretch since 2009, paced by declines of more than 20% in Transocean Ltd, Diamond Offshore Drilling Inc and Chesapeake Energy Corp. West Texas Intermediate crude is down 11% since December. Charter Communications Inc rose +5.3% after agreeing to acquire Bright House Networks in a deal worth around $10 billion. Caterpillar Inc and Boeing Co both fell more than -1.6%.

 

Asian stocks fell after posting their steepest quarterly advance since 2013. The Nikkei 225 (-0.90%) and the S&P/ASX 200 (-0.52%) both declined, while the Hang Seng (+0.73%) increased. China Construction Bank rose +0.8%, Ping An Bank Co climbed +1.3%, China Life Insurance jumped +2% after the government announced plans to start an insurance system for bank deposits. Citic Securities Co advanced +3.4% and Haitong Securities Co climbed +5.9% amid speculation increased stock turnover and margin trading will boost earnings. Toyota Motor Corp slid -1.8% as the yen climbed. ABC-Mart Inc climbed +3.4% on a report that the company’s operating profit for the year end was less than analyst forecasts.