Morning Spread

Morning Spread

Monday 20th June 2016
IndexLevelChg (%)
UK Market6137.96+1.94
Dow Indust Avg17675.16-0.33
S&P 5002071.22-0.33
Nasdaq Composite4800.34-0.92
Nikkei 22515965.30+2.34
Hang Seng20495.76+1.62
IndexLevelChg (%)
Nymex 1m48.76+1.63
Gold Spot1287.80-0.86
GBP/USD1.4602-1.70
GBP/EUR1.2874+1.12
EUR/USD1.1343+0.58
USD/JPY104.57-0.39

European stocks advanced as a new poll showed an increase in the number of Britons that support staying in the European Union. The ESTX 50 (+2.93%), CAC 40 (+2.82%), Dax (+2.92%) and the UK markets (+2.44%) all posted gains in early trading. A poll published over the weekend showed 45% of voters supported the “Remain” camp, while 42% were in favour of secession, a turnaround from early last week when surveys put the latter group ahead. UniCredit SpA jumped +5.8% after Italian newspaper II Fatto Quotidiano reported that the bank is likely to appoint former government minister Corrado Passera as its next CEO. Banco Bilbao Vizcaya Argentaria SA advanced +3.5% after reports that the bank instigated a new strategic plan in March that wasn’t announced to the market. UbiSoft Entertainment SA gained +5% after Vivendi SA increased its stake in the company to 20.1%. Vivendi rose +2.7%.

US stocks closed down Friday, as investors continued to fret over the possibility that the UK may leave the European Union on top of lingering concerns about the Federal Reserve’s reluctance to raise interest rates. The Dow Jones Industrial Average (-0.33%), S&P 500 (-0.33%) and the Nasdaq Composite (-0.92%) all retreated. Apple fell -2.28% after Beijing’s intellectual property regulator ruled that the design for iPhone 6 and iPhone 6 plus is too similar to a Chinese phone and ordered the Apple to stop sales of the devices in the City. Elizabeth Arden Inc surged +49% after Revlon Inc said it would buy its rival for $420 million. Revlon shares gained +6.7%.

Asian stocks rose as a poll showed a tilt in favour of Britain remaining in the European Union and a weaker yen buoyed the earnings outlook for Japanese exporters. S&P/ASX 200 (+1.82%), Hang Seng (-1.69%) and the Nikkei 225 (+2.34%) all advanced. Esprit Holdings Ltd, which Jefferies Group LLC named as among the most exposed Chinese companies to a Brexit, slid -1.7%. Cheung Kong Property Holdings Ltd added +2.4% after Hong Kong’s secondary private residential property prices rose 0.35% in the week ended June 12th. China Petroleum & Chemical Corp climbed +2.5% as oil gained for second day above $48 a barrel as the dollar retreated.