Morning Spread

Morning Spread

Tuesday 22nd March 2016
IndexLevelChg (%)
UK Market6145.72-0.63
Dow Indust Avg17623.87+0.12
S&P 5002051.60+0.10
Nasdaq Composite4808.87+0.28
Nikkei 22517048.55+1.94
Hang Seng20666.75-0.08
IndexLevelChg (%)
Nymex 1m41.37-0.36
Gold Spot1253.97+0.83
GBP/USD1.4268+0.90
GBP/EUR1.2741-0.46
EUR/USD1.1199-0.44
USD/JPY111.70+0.08

European shares fell this morning, with travel and leisure stocks leading the market lower after explosions hit the airport in Brussels. The ESTX 50 (-1.21%), CAC 40 (-1.22%), Dax (-1.19%) and the UK markets (-0.94%) all posted losses in early trading. EasyJet Plc, Air France-KLM Group and Ryanair Holdings Plc dropped at least -3.3% following explosions at Brussels airport that saw the airport evacuated and flights diverted. Banco Popolare SC lost -6.5% after it was reported that it is planning to raise about €1 billion through a share sale, bad loan and asset disposals to meet the ECB’s approval for a merger with Banca Popolare di Milano Scarl. Thomas Cook Group Plc lost -4.3% after saying 2016 summer bookings have been lower than last year. Partners Group Holdings AG gained +3.9% after its sales and earnings exceeded estimates.

 

US stocks closed little changed as investors searched for fresh catalysts and showed concerns about fully extended share prices. The Dow Jones Industrial Average (+0.12%), S&P 500 (+0.10%) and the Nasdaq Composite (+0.28%) all made modest increases. Valeant closed up +7.4% after it announced the departure of its CEO, and sail Bill Ackman had joined its board, as it tries to clean up accounting problems and save its business. Sherwin-Williams fell -5.3% after it agreed to buy rival Valspar. Valspar jumped +23.1%. Starwood rose +4.5% after accepting a higher offer from Marriott that beat an all cash offer by a group led by Anbang Insurance Group. Marriott dropped -1.2%.

 

Asian stocks were mixed, despite a rally in Japan and as crude held above $41 a barrel. The Hang Seng (-0.08%) and the S&P/ASX 200 (-0.32%) both decreased, while the Nikkei 225 (+1.94%) rallied. Toyota Motor Corp jumped +3.6%, pacing gains among Japanese exporters as the yen maintained losses. Nintendo Co soared +8.2% after its first smartphone game was downloaded more than a million times since being released last week. Noble Group Ltd surged +9.7% in Singapore as raw materials recover and speculation mounted that the company will soon refinance some of its borrowings. HTC Corp slumped -9.8% in Taipei after Daiwa Securities Group Inc recommended investors sell the shares of the company.