Morning Spread

Morning Spread

Tuesday 20th September 2016
IndexLevelChg (%)
UK Market6829.91+0.24
Dow Indust Avg18120.17-0.02
S&P 5002139.120.00
Nasdaq Composite5235.03-0.18
Nikkei 22516492.15-0.16
Hang Seng23541.43-0.04
IndexLevelChg (%)
Nymex 1m42.99-0.72
Gold Spot1316.23+0.24
GBP/USD1.3004+0.34
GBP/EUR1.1622-0.46
EUR/USD1.1190+0.12
USD/JPY101.74-0.01

European stocks advanced as investors awaited the Federal Reserve’s meeting tomorrow. The ESTX 50 (+0.15%), CAC 40 (+0.15%), Dax (+0.55%) and the UK markets (+0.29%) all posted gains in early trading. Stocks in Europe have oscillated amid mixed economic data and signs that central banks may no longer be willing to unquestionably increase measures to stimulate growth. Regus Plc tumbled -6.1% as founder Mark Dixon sold 37 million shares. IG Group Holdings Plc slid -3.9% after saying that the first quarter was challenging as subdued financial markets in July and August offered limited trading opportunities. Bayer AG climbed +1.5% after raising the peak sales forecast for its new treatment portfolio.

US stocks were little changed with gains in banks offsetting a drag from Apple, as investors braced for the Federal Reserve meeting later this week. The Dow Jones Industrial Average (-0.02%), S&P 500 (0.00%) and the Nasdaq Composite (-0.18%) all finished trading pretty much flat. The Fed is expected to leave interest rates unchanged at the two day meeting, but investors will assess Janet Yellen’s speech on Wednesday to see if the central bank plans to hike as soon as December. Apple shares shed -1.2% after registering huge gains last week. JPMorgan, Bank of America and Wells Fargo all posted gains. Sarepta Therapeutics shares rocketed +73.9% after US regulators approved its key muscle disorder treatment.

Asian stocks registered small changes as Japanese shares swung between gains and losses ahead of this week’s policy decisions from the Federal Reserve and the Bank of Japan. The S&P/ASX 200 (+0.17%) gained, while the Hang Seng (-0.08%) and the Nikkei 225 (-0.16%) both declined. Hong Kong Exchanges & Clearing Ltd gained +1.5% after Goldman Sachs Group Inc raised the stocks rating to “neutral” from “sell”, citing increased volumes and the recent price rally. Cheung Kong Property Holdings Ltd retreated -1.7% after the regional head of property research at CLSA Ltd said home prices are expected to drop 7% next year because of increased supply and slower economic growth.