Morning Spread

Morning Spread

Tuesday 22nd April 2014
IndexLevelChg (%)
UK Market6679.21+0.81
Dow Indust Avg16449.25+0.25
S&P 5001871.89+0.38
Nasdaq Composite4121.55+0.64
Nikkei 22514388.77-0.85
Hang Seng22730.68-0.13
IndexLevelChg (%)
Nymex 1m103.95-0.40
Gold Spot1290.64+0.06
GBP/USD1.6822-0.15
GBP/EUR1.2184+0.05
EUR/USD1.3807+0.11
USD/JPY

European stocks climbed as markets re-opened after a four day break. The ESTX 50 (+0.65%), UK markets (+0.92%), CAC 40 (+0.72%) and the DAX (+1.10%) all posted gains in early trading. GlaxoSmithKline Plc rose +4.4% after agreeing to sell its cancer business to Novartis AG for as much as $16 billion. Novartis AG gained +2.7%. Health companies were the best performing stocks in Europe this morning with Shire Plc advancing +4.9% and AstraZeneca Plc jumping +7.9%. Royal Philips NV slid -6.2% after posting first quarter profit that missed analysts’ projections. Schindler Holding AG increased +1.2% after saying first quarter revenue rose 8.8%. Accor SA declined -1.3% after saying first quarter revenue fell to €1.14 billion, which was less than analysts’ projections.

 

US stocks rose on signs earnings are improving. The Dow Jones Industrial Average (+0.25%), S&P 500 (+0.38%) and the Nasdaq Composite (+0.64%) all advanced. Netflix gained more than +6% after markets closed as it reported better than projected sales, profit and subscriber growth. Allergan Inc soared +12% in extended trading after a media report that New York hedge fund manager Bill Ackman and Valeant Pharmaceuticals International Inc are teaming up to bid for the company. Newmont Mining Corp advanced +6.4% as it discussed a possible merger with Barrick Glod Corp. Halliburton Co climbed +3.3% after forecasting profit growth for the second quarter. Athenahealth Inc fell -6.9% after reporting quarterly earnings that missed projections.

 

Asian stocks swung between gains and losses as energy producers advanced, while China Resources Power Holdings Co led declines amid a graft investigation. The Nikkei 225 (-0.85%) declined, Hang Seng (+0.04%) and the S&P/ASX 200 (+0.46%) both posted small gains. China Resources Power plunged -9.9% in Hong Kong after China’s anti-corruption agency said it’s probing the chairman of the company’s parent. Great Wall Motor Co dropped -6.27% after first quarter earnings disappointed Deutsche Bank AG. Bharat Petroleum Corp climbed -4.3% in Mumbai to pace gains among energy producers.