Morning Spread

Morning Spread

Thursday 1st January 1970
IndexLevelChg (%)
UK Market6971.63+0.13
Dow Indust Avg17959.03-0.65
S&P 5002089.27-0.49
Nasdaq Composite4992.38+0.19
Nikkei 22519560.22+0.43
Hang Seng24375.24-0.38
IndexLevelChg (%)
Nymex 1m43.06-0.68
Gold Spot1172.78+0.14
GBP/USD1.4740-0.13
GBP/EUR1.3793-0.36
EUR/USD1.0688+0.49
USD/JPY121.08-0.13

European stocks gained as negotiations between Greece and its creditors continued. The ESTX 50 (+0.26%), UK markets (+0.07%), CAC 40 (+0.16%) and the Dax (+0.55%) all posted gains in early trading. Tullow Oil Plc climbed +2.8% after saying it got a $450 million loan increase. TSB Banking Group Plc gained +1.7% after Banco de Sabadell SA agreed to buy it for £1.7 billion. Sabadell added +0.8%. Holcim rose +1.3% and Lafarge added +3.5% after the companies agreed new terms on a planned multi billion euro deal that would create the world’s biggest cement firm. CRH rose +4.1% as the Holcim-Lafarge deal paved the way for CRH’s acquisition of cement assets from the combined entity.

 

US stocks fell as a stronger dollar weighed on oil and other commodity prices, sending the energy and materials sectors lower. The Dow Jones Industrial Average (-0.65%) and the S&P 500 (-0.49%) both declined, while the Nasdaq Composite (+0.19%) increased. WTI crude fell -1.9% and Brent fell -2.6% as the dollar strengthened, and on concerns over excess supply. The S&P 500 energy sector index fell -1.7%. Biotech stocks helped buoy the Nasdaq Composite and the S&P 500’s healthcare sector. Regeneron added +2.9% and Biogen rose +1.3% after Credit Suisse upped its price target on the stock to $500 from $400. Guess Inc shares surged +16% after quarterly profit beat analyst estimates as the apparel retailer’s expenses declined and online business grew.

 

Asian stocks rose after the Federal Reserve said data suggests US economic growth has moderated and officials indicated interest rates will rise at slower pace than previously forecast. The Nikkei 225 (+0.43%) and the S&P/ASX 200 (+0.41%) both increased, while the Hang Seng (-0.38%) decreased. Ping An Insurance (Group) Co advanced +3.5% after saying annual profit rose 40% and it plans to pay dividends and bonus shares. Nippon Yussen K.K added +1.1% after the price of shipping commodities rose the most in two months. Yahoo Japan Corp jumped +6.3% as it boosted its dividend. Nintendo sank -6.6% after surging 36% in the past two days.