Morning Spread

Morning Spread

Friday 20th December 2013
IndexLevelChg (%)
UK Market6594.70+0.15
Dow Indust Avg16179.08+0.07
S&P 5001809.60-0.06
Nasdaq Composite4058.14-0.29
Nikkei 22515870.42+0.07
Hang Seng22812.18-0.33
IndexLevelChg (%)
Nymex 1m98.74-0.30
Gold Spot1196.52+0.66
GBP/USD1.6336+0.25
GBP/EUR1.1962-0.20
EUR/USD1.3656-0.07
USD/JPY

European shares advanced after the US Federal Reserve said it would slow the pace of its bond buying. The ESTX 50 (+0.52%), UK Equities (+0.44%), CAC 40 (+0.31%) and the DAX (+0.57%) all posted gains in early trading. Carnival Corp advanced +3.1% after Credit Suisse Group AG and Natixis SA raised their ratings on the shares after posting fourth quarter profit that beat analysts’ estimates. BAE Systems Plc retreated -4.9% after it said the United Arab Emirates stopped talks to buy its combat planes. Telenet rose +2.6% after Goldman Sachs raised its rating on the stock to “buy” from “neutral”, citing growth prospects. Marks & Spencer and Tesco Plc both rose +1.7% as a gauge of UK retailers climbed for a second day.

 

US stocks retreated as investors weighed economic data that included jobless claims and home sales. The S&P 500 (-0.06%) and the NASDAQ Composite (-0.29%) retreated, while the Dow Jones Industrial Average (+0.07%) gained. Facebook Inc lost -1% after saying the company and some shareholders, including CEO Mark Zuckerberg, will sell 70 million shares. Oracle Corp rose +5.8% after forecasting third quarter sales and profit in line with analysts’ estimates. Target Corp dropped -2.2% after saying data for about 40 million debit and credit cards may have been wrongfully accessed in recent weeks and that the police are investigating the matter. Chevron Corp jumped +1.3% for the biggest advance in the Dow. International Business Machines Corp rose +0.9%. Accenture Plc gained +5.1% after reporting quarterly profit that topped estimates as demand for its expertise resurfaced in the US and Europe.

 

Asian stocks swung between losses and gains as Chinese shares slid on concern funding costs for lenders will remain high even after the central bank injected liquidity. Japanese shares rose as the yen reached a five year low. The Nikkei 225 (+0.07%) and the S&P/ASX 200 (+1.21%) both gained, while the Hang Seng (-0.32%) declined. Mazda Motor Corp, a company that gets 73% of sales abroad, climbed +3.5%. Telstra Corp rose +1.8% after agreeing to sell its Hong Kong mobile phone business. Hanwha Chemical Corp climbed +2.9% in Seoul as Hana Daetoo Securities said the solar energy industry will see strong demand into next year. China Everbright Bank Co slumped -2.8% on its debut in Hong Kong after raising $3 billion in the city’s biggest initial public offering this year.