Morning Spread

Morning Spread

Wednesday 21st September 2016
IndexLevelChg (%)
UK Market6857.31+0.39
Dow Indust Avg18129.96+0.05
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 Spot1319.51+0.35
GBP/USD1.2978+0.34
GBP/EUR1.1622-0.46
EUR/USD1.1190+0.12
USD/JPY101.74-0.01

 

European stocks rose amid optimism global central banks will stay supportive of growth. The ESTX 50 (+1.11%), CAC 40 (+0.98%), Dax (+0.93%) and the UK markets (+0.47%) all posted gains in early trading. European equities have swung between losses and gains in recent sessions amid mixed economic data and worries that central banks may be less willing to boost stimulus measures. Banco Santander SA rose +3.4% after a report it ended talks with Royal Bank of Scotland to buy Williams & Glyn. Inditex SA climbed +0.9% after reporting earnings that beat analysts’ estimates. Eurofins Scientific SE rose +3.9% after raising its 2016 profit target and said it’s on track to meet its 2020 objectives.

 

 

 

US stocks were little changed as healthcare gains countered declines in energy shares, a day before highly anticipated outcomes of monetary policy meetings in the United States and Japan. The Dow Jones Industrial Average (+0.05%), S&P 500 (+0.03%) and the Nasdaq Composite (+0.12%) all registered small increases. Allergan shares fell -2.7% after saying it would pay up to $1.7 billion to buy Tobira Therapeutics, which is developing therapies for NASH, an incurable fatty liver disease. Tobira shares soared more than +700%. Gilead Sciences which is also developing drugs for NASH, rose +3.5% and gave the biggest boost to the S&P and the Nasdaq. Wells Fargo rose +1.2% after the bank’s CEO weathered criticism as he testified before a US senate panel.

 

 

 

Asian stocks rose after tweaks to the Bank of Japan’s monetary policy caused a surge in Japanese equities and preserved investment flows to regional markets. The S&P/ASX 200 (+0.68%), Hang Seng (+0.59%) and the Nikkei 225 (+1.91%) all increased. Mitsubishi UFJ Financial Group Inc jumped +7.4% in Tokyo, pacing gains among Japanese banks after the central bank decided to target the bond yield curve and refrain from deepening negative interest rates, easing concern that monetary policy will continue to erode their profits. HTC Corp surged +6% in Taipei amid speculation new smartphone models will boost earnings. China State Construction International Holdings Ltd advanced +9.2% in Hong Kong after Goldman Sachs Group Inc added the stock to its conviction buy list.