Morning Spread

Morning Spread

Monday 20th July 2015
IndexLevelChg (%)
UK Market6807.93+0.48
Dow Indust Avg18086.45-0.19
S&P 5002126.64+0.11
Nasdaq Composite5210.14+0.91
Nikkei 22520650.92+0.25
Hang Seng25404.81-0.04
IndexLevelChg (%)
Nymex 1m50.91+0.04
Gold Spot1114.95-1.72
GBP/USD1.5541+0.38
GBP/EUR1.4346-0.49
EUR/USD1.0834-0.04
USD/JPY124.29-0.16

European stocks gained on growing optimism over a resolution to Greece’s crisis and amid deals activity. The ESTX 50 (+0.75%), UK markets (+0.51%), CAC 40 (+0.72%) and the Dax (+0.66%) all posted gains in early trading. OCI NV rallied +11% after CF Industries Holdings Inc said it’s in preliminary talks about a combination with certain businesses of OCI. Aveva Group Plc jumped +29% after Schneider Electric SE agreed to merge its software business with the UK company. Julius Baer Group Ltd slipped -2.5% after saying first half profit declined after the bank took a provision to settle a tax dispute with the US. Royal Dutch Shell Plc and BG Group Plc rose more than +2%, pacing gains among European Oil and Gas shares. HSBC Holdings Plc rose +1% after Citigroup Inc recommended buying the shares.

 

US stocks advanced as Google pushed the Nasdaq to a second straight record high on Friday while weak energy stocks weighed on the Dow. The S&P 500 (+0.11%) and the Nasdaq Composite (+0.91%) both increased, while the Dow Jones Industrial Average (-0.19%) decreased. Google surged +16.26% to end at an all-time high of $699.62, a day after reporting strong ad revenue growth. It was Google’s largest one-day percentage gain since April 2008. Facebook rose +4.53% on hopes it could mirror Google’s ad growth. Etsy spiked +30% thanks to a nod from Google during its conference call. A drop in oil prices limited gains on the broader market. Chevron lost -1.4%. Boeing fell -1.11% and was the biggest drag on the Dow after it said it will take a second quarter charge related to problems with its KC-46 refuelling tanker aircraft program.

 

Asian stocks followed Wall Street higher, but gains were capped as investors refrained from taking big positions. The Nikkei 225 (+0.25%), Hang Seng (+0.02%) and the S&P/ASX 200 (+0.30%) all increased. Santos Ltd fell -1.6% in Sydney after Brent futures extended losses. Newcrest Mining Ltd sank -10% after gold tumbled to its lowest level since 2010. Innolux Corp slid -6.3% in Taipei after Citigroup Inc downgraded its rating on the supplier of screens to Apple Inc. Daewoo Shipbuilding & Marine Engineering Co dropped -6.6% in Seoul.