Morning Spread

Morning Spread

Monday 22nd June 2015
IndexLevelChg (%)
UK Market6791.10+1.20
Dow Indust Avg18015.95-0.55
S&P 5002109.99-0.53
Nasdaq Composite5117.00-0.31
Nikkei 22520428.19+1.26
Hang Seng27080.85+1.20
IndexLevelChg (%)
Nymex 1m60.17+0.94
Gold Spot1195.43-0.40
GBP/USD1.5857+0.16
GBP/EUR1.3992+0.01
EUR/USD1.1333-0.17
USD/JPY123.14-0.35

European stocks rose after Greek Prime Minister Alexis Tsipras presented a new plan of reforms, while deals activity increased. The ESTX 50 (+2.75%), UK markets (+1.38%), CAC 40 (+2.80%) and the Dax (+2.88%) all posted gains in early trading. Bouygues SA jumped +13% Altice SA said its cable and wireless unit has made an offer to buy France’s third largest mobile phone company from Bouygues. Altice SA climbed +12%. Iliad SA rose +11% as it’s in exclusive talks with Altice’s Numericable-SFR to acquire a portfolio of assets. Orange SA gained +7.1%. Sky Plc added +4.9% after a report that the Murdoch family is eyeing a new takeover bid for the company after turning down two offers from Vodafone Group Plc and Vivendi SA. Severn Trent Plc gained +2.5% after a report that Borealis is considering a bid for the utility. Kuoni Reisen Holding AG added +1.6% after agreeing to sell its entire European tour operating business to Rewe Group’s DER Touristik.

 

US stocks fell ahead of a summit this week that could decide whether Greece will need to print its own currency and ditch the euro. The Dow Jones Industrial Average (-0.55%), S&P 500 (-0.53%) and the Nasdaq Composite (-0.31%) all decreased. ConAgra Food’s shares jumped +10.9% after activist hedge fund Jana Partners took a stake in the company. ConAgra’s peer Pinnacle Foods rallied +8.6% to $46.81 after earlier hitting a record high of $47.21. Macerich slumped -6.8% after it was reported that Simon Property Group was selling its ownership stake in the company. Simon fell -1.3%. KB Home rose +9.4% after announcing quarterly results that beat estimates.

 

Asian shares rose after Greece scrambled to avert defaulting on its debt with last minute proposals aimed at appeasing its creditors. The Nikkei 225 (+1.26%), Hang Seng (+1.11%) and the S&P/ASX 200 (+0.24%) all advanced. Asahi Kasei Corp gained +2% after a report the company’s operating profit may rise as much as 20%. Chugai Pharmaceutical Co added +5.1% after Barclays Plc raised its rating on the company. Sumco Corp lost -2.2% after Credit Suisse Group AG cut its target price on the company. Anhui Conch Cement Co climbed +3.7% to lead gains on the Hang Seng China Enterprises Index after slumping -11% last week. Great Wall Motor Co remained suspended pending a private yuan-denominated share sale.