Morning Spread

Morning Spread

Monday 22nd December 2014
IndexLevelChg (%)
UK Market6592.75+0.73
Dow Indust Avg17804.80+0.15
S&P 5002070.65+0.46
Nasdaq Composite4765.38+0.36
Nikkei 22517635.14+0.08
Hang Seng23408.57+1.26
IndexLevelChg (%)
Nymex 1m57.63+0.88
Gold Spot1196.96+0.05
GBP/USD1.5621+0.03
GBP/EUR1.2742-0.32
EUR/USD1.2259+0.25
USD/JPY119.82-0.27

European stocks rose as a rally in energy companies pushed up equities, extending their biggest advance in more than two years. The ESTX 50 (+0.62%), UK markets (+0.76%), CAC 40 (+0.73%) and the Dax (+0.64%) all posted gains in early trading. Afren Plc jumped +16% after confirming it received an early approach from Seplat Petroleum Development Co. Indra Sistemas SA climbed +2.6% after Spanish newspaper El Mundo reported Antonio Hernandez Mancha is in talks with the government to buy a 20% stake in the company for British fund Hanson. Roche Holding AG added +1.3% after one of its products was approved in Switzerland to treat cervical cancer. Delta Lloyd NV fell -5.4% after saying the Dutch central bank ordered it to dismiss its CFO by 2016 and fined the insurer for allegedly acting contrary to its risk policy using confidential information when it cut interest rate hedges in 2012.

 

US stocks advanced last week as the Federal Reserve sparked a three day rally that nearly wiped out two weeks of equity pain. The Dow Jones Industrial Average (+0.15%), S&P 500 (+0.46%) and the Nasdaq Composite (+0.36%) all posted gains before closing for the weekend. Exxon Mobil Corp and Chevron Corp climbed +8.1% and 10% respectively, for the weeks biggest gains in the Dow. The two companies dropped more than 7.7% in the previous week. Oracle Corp rose +15%, the most in 12years, as efforts to push deeper into web-based cloud computing helped fuel fiscal second quarter profit and sales that surpassed analysts’ estimates. Boeing Co, 3M Co and CVS Health Corp added at least +4.5% as each one increased their quarterly dividend. Boeing and CVS announced stock buyback plans. FedEx Corp dropped -0.9%after reporting a lower quarterly benefit from declining fuel prices than some analysts expected and failing to boost its full year profit outlook.

 

Asian stocks rose as commodity shares climbed on a rally in crude prices. The Nikkei 225 (+0.08%), Hang Seng (+1.26%) and the S&P/ASX 200 (+1.94%) all advanced. BHP Billiton Ltd climbed +3% in Sydney. Showa Shell Sekiyu KK surged +28% in Tokyo after saying it was holding talks with Idemitsu Kosan Co for a possible tie up. Haitong Securities Co fell -1.9% in Hong Kong after saying it plans to raise $3.9 billion selling shares in a private placement. Inpex Corp added +5.2%. Cosmo Oil Co jumped +19% after saying it sees potential savings of 10 billion yen from a venture agreement. Marubeni Corp, a trading house that gets about 28% of its sales from energy, advanced +3.4%. Japan Airlines Co sank -1.7%. Chugai Pharmaceutical Co lost -4.4% after Roche Holding AG, which owns 60% of the company, reported disappointing test results for a breast cancer treatment.