Morning Spread

Morning Spread

Thursday 22nd January 2015
IndexLevelChg (%)
UK Market6737.29+0.14
Dow Indust Avg17554.28+0.22
S&P 5002032.12+0.47
Nasdaq Composite4667.42+0.27
Nikkei 22517329.02+0.28
Hang Seng24522.63+0.70
IndexLevelChg (%)
Nymex 1m47.50-0.59
Gold Spot1286.62-0.50
GBP/USD1.5159-0.33
GBP/EUR1.3041-0.10
EUR/USD1.1624+0.44
USD/JPY117.74+0.23

European stocks were mixed ahead of today’s ECB meeting at which it is expected that President Mario Draghi will announce quantitative easing measures. The ESTX 50 (-0.24%), CAC 40 (-0.46%) and Dax (-0.42%) posted losses in early trading, while the UK Markets (+0.13%) were slightly up. Logitech International SA rallied +7.4% after company reported third quarter sales that beat estimates and raised its 2015 profit. Balfour Beatty Plc dropped -1% after an external review of its UK construction unit prompted the company to cancel a share buyback program of as much as £200 million. It also said 2014 profit at the business will fall short of its previous forecast. Banks and energy shares were among the biggest contributors to this morning’s gains. Technip SA and Saipem SpA gained more than +2.5% each. Bankiter SA climbed +1.1% after reporting a rise in fourth quarter profit.

 

US stocks rose as investors digested reports that new stimulus would be announced by the ECB in today’s meeting. The Dow Jones Industrial Average (+0.21%), S&P 500 (+0.47%) and the Nasdaq Composite (+0.27%) all increased. IBM fell -3.1% after reporting lower than expected revenues and giving a 2015 profit target that was below estimates. UnitedHealth Group Inc rose +3.5% after its fourth quarter earnings topped estimates. Netflix Inc jumped +17.3% a day after posting earnings that were above expectations and said it was growing faster overseas than previously expected.

 

Asian stocks gained as investors awaited an ECB decision today on quantitative easing strategy and Chinese shares rallied as the People’s Bank of China pumped funds into the financial system. The Nikkei 225 (+0.28%), Hang Seng (+0.70%) and S&P/ASX 200 (+0.49%) all advanced. Bridgestone Corp sank -1.7% as tyre manufacturers led a decline among Japanese shares. JG Summit Holdings Inc tumbled -11% in Manila after the company raised $200 million selling discounted shares. China Vanke Co and Poly real Estate Group Co climbed more than +2% in mainland trading after a report China may allow companies to deduct costs for newly purchased real estate from taxes this year.