Morning Spread

Morning Spread

Thursday 21st May 2015
IndexLevelChg (%)
UK Market7022.94+0.22
Dow Indust Avg18285.40-0.15
S&P 5002125.85-0.09
Nasdaq Composite5071.74+0.03
Nikkei 22520202.87+0.03
Hang Seng27523.72-0.22
IndexLevelChg (%)
Nymex 1m59.27+0.49
Gold Spot1211.75+0.16
GBP/USD1.5579-0.19
GBP/EUR1.3974-0.26
EUR/USD1.11480.46
USD/JPY120.96+0.23

European stocks fell this morning amid mixed reports on the region’s manufacturing. The ESTX 50 (-0.46%), CAC 40 (-0.32%) and the Dax (-0.57%) all posted losses in early trading, while the UK markets (+0.18%) advanced. Raiffeisen Bank International AG slid -2.4% after saying first half profit nearly halved. Royal Mail Plc dropped -1.3% after saying the UK parcels and letters market remains competitive and forecasting lower annual margins from its German business. Tesco Plc gained +1.4% after a report said the company will begin a process to sell its South Korean unit in July.

 

US stocks were mixed after Wall Street saw little in the minutes from last month’s Federal Reserve meeting to alter expectations of when the central bank will raise interest rates. The Dow Jones Industrial Average (-0.15%), S&P 500 (-0.09%) and the Nasdaq Composite (+0.03%) all made modest changes. Growth slowed to a crawl in the first quarter, while recent economic data has painted a mixed picture. Consumption, business spending and manufacturing data have suggested the economy is struggling, but housing starts were strong. Southwest Airlines dropped -9.09% after it forecast a decline in passenger unit revenue for the quarter. Citigroup lost -0.79% and JPMorgan fell -0.79% as they were among four banks fined a total of $6 billion for manipulating currency rates.

 

Asian stocks advanced as investors weighed the minutes of the Federal Reserve’s last meeting and awaited China manufacturing data. The Nikkei 225 (+0.03%) and the S&P/ASX 200 (+0.93%) both gained, while the Hang Seng (-0.15%) declined. Mazda Motor Corp, which gets about 80% of revenue abroad, climbed +1.3%. MS&AD Insurance Group Holdings Inc jumped +5.4% as forecasts beat estimates and the company said it would buy back shares. Panasonic Corp added +2.3% after Nomura Holdings Inc raised its rating on the stock. Lixil Group Corp dropped -7.5% after saying it may post a loss if its German subsidiary files for insolvency.