Morning Spread

Morning Spread

Tuesday 23rd December 2014
IndexLevelChg (%)
UK Market6590.43+0.21
Dow Indust Avg17959.44+0.87
S&P 5002078.54+0.38
Nasdaq Composite4781.42+0.34
Nikkei 22517635.14+0.08
Hang Seng23333.69-0.32
IndexLevelChg (%)
Nymex 1m55.87+1.10
Gold Spot1179.29+0.24
GBP/USD1.5570+0.22
GBP/EUR1.2726-0.08
EUR/USD1.2235-0.14
USD/JPY120.09-0.16

European stocks rallied with crude oil and gold. The ESTX 50 (+0.13%), UK markets (+0.16%) and the CAC 40 (+0.30%) all advanced in early trading, while the Dax (-0.01%) was flat. Construction based companies were some of the biggest contributors to the gains in Europe. Balfour Beatty Plc gained +2.9%, CRH Plc added +1.8% and Sika AG rose +2.9%. OC Oerlikon AG added +2.9% after saying it has agreed to sell its Advanced Technologies unit. Banca Monte dei Paschi di Siena SpA rose +1.4% after falling 15% in the previous four sessions as the bank prepares to tap investors for a second time in a year after failing stress tests. Nutreco NV dropped -5% after Cargill Inc pulled out of the race to acquire the company. Wm Morrison Supermarkets Plc rose +2.1%. Reckitt Benckiser Group Plc gained +1.2% after the separation of its pharmaceutical division Indivior. ARM holdings Plc and Smiths Group Plc climbed more than +1.5%.

 

US equities closed at records as a surge in technology shares helped US stocks recover from a selloff in early December. The Dow Jones Industrial Average (+0.87%), S&P 500 (+0.38%) and the Nasdaq Composite (+0.34%) all advanced. Facebook Inc and Intel Corp rose more than +1.9% to pace gains among technology shares. Twitter Inc and Amazon.com Inc both climbed at least +2.2%. Facebook jumped +2% and Google Inc added +2.4%. Priceline Group Inc climbed +3.6%, while Pandora Media and Expedia Inc increased more than +1.4%. Biogen Idec Inc and Eli Lilly & Co lost more than -1.3%. Energy companies in the S&P 500 fell as the price of crude oil declined for the second time in three days. Cheseapeake Energy Corp and Southwestern Energy Co slid more than -5.4%, while Transocean Ltd decreased -1.8%.

 

Asian stocks fell as commodity shares slumped. The Hang Seng (-0.32%) and the S&P/ASX 200 (-1.12%) both decreased, while the Nikkei 225 (+0.08%) increased. BHP Billiton Ltd dropped -3.5% in Sydney after capping its biggest four day rally since October 2011 in the previous session. Zijin Mining Group Co dropped -2.7% in Hong Kong after its controlling shareholder reduced its stake in China’s No1 gold producer. Hyundai Merchant Marine Co tumbled -6.2% after saying it plans to sell 238 billion won of new shares.