Morning Spread

Morning Spread

Tuesday 21st June 2016
IndexLevelChg (%)
UK Market6197.86-0.10
Dow Indust Avg17804.87+0.73
S&P 5002083.25+0.58
Nasdaq Composite4837.22+0.77
Nikkei 22516199.11+1.28
Hang Seng20668.44+0.77
IndexLevelChg (%)
Nymex 1m49.12-0.51
Gold Spot1282.17-0.61
GBP/USD1.4733-0.37
GBP/EUR1.2998+0.19
EUR/USD1.1335+0.18
USD/JPY104.46-0.22

European were little changed as polls were split over whether UK citizens will vote to stay or leave the European Union in Thursday’s referendum. The ESTX 50 (+0.19%), CAC 40 (+0.10%) and the Dax (+0.18%) all posted gains this morning, while the UK markets (-0.24%) retreated. A Yougov poll for the Times newspaper published late on Monday showed a lead for the “Leave” campaign, while a survey by ORB for the Daily Telegraph indicated the “Remain” camp was ahead. Odds at betting shops are more pronounced, with Oddschecker data showing about a one in four chance the UK will choose to secede. Kion Group AG slid -5.1% after agreeing to buy Dematic for about $2.1 billion. Senior Plc tumbled -16% after the engineering firm said it sees lower revenues for its Flextronics division in the second half of the year.  

US stocks rose in relief advance after indications that British voters later this will choose to remain in the European Union. The Dow Jones Industrial Average (+0.73%), S&P 500 (+0.58%) and the Nasdaq Composite (+0.77%) all increased. JD.com rallied +4.6% after Walmart said it would sell its Chinese e-commerce business to JD.com and create a strategic alliance. Walmart shares gained +0.2%. Lending Club Corp gained +2.7% after Chinese billionaire Chen Tianqiao raised his stake in the company, following the recent ouster of founder and CEO.

Asian stocks rose as the yen retreated before testimony by Federal Reserve Chair Janet Yellen. The S&P/ASX 200 (+0.33%), Hang Seng (+0.77%) and the Nikkei 225 (+0.77%) all advanced. Jiangxi Copper dropped -1.1% and Yunnan Copper Co fell -1.4% after copper fell 0.9% in Shanghai following the release of Chinese data that underscored a softening of local demand. Shanghai Jinqiao Export Processing Zone Development Co surged +10% before its shares were suspended amid speculation that its base was the front runner to become Tesla Motors Inc’s Chinese production site.