Morning Spread

Morning Spread

Monday 23rd March 2015
IndexLevelChg (%)
UK Market7012.74-0.14
Dow Indust Avg18127.65+0.94
S&P 5002108.10+0.90
Nasdaq Composite5026.42+0.68
Nikkei 22519754.36+0.99
Hang Seng24494.51+0.49
IndexLevelChg (%)
Nymex 1m45.53-2.23
Gold Spot1182.57+0.01
GBP/USD1.4885+0.43
GBP/EUR1.3731-0.60
EUR/USD1.0838+0.16
USD/JPY119.91+0.11

European stocks declined this morning following last week’s gains. The ESTX 50 (-0.61%), UK markets (-0.29%), CAC 40 (-0.57%) and the Dax (-0.97%) all posted losses in early trading. Pirelli rose +2.1% after China National Chemical Corp agreed to buy the company in a €7.1 billion deal. Bilfinger SE lost -2.3% after saying it is investigating allegations of bribery at its unit Brazil. Auto-related stocks were the biggest sufferers among European stocks this morning. Daimler AG and Volkswagen AG both lost more than -1.7%.  

 

US stocks rose on Friday following a pullback in the dollar, upbeat results from Nike and further biotech gains. The Dow Jones Industrial Average (+0.94%), S&P 500 (+0.90%) and the Nasdaq Composite (+0.68%) all gained. Nike jumped +3.7% as the biggest boost to the Dow after it posted a quarterly profit that beat market estimates. Nike announced that it had sold more higher margin shoes and apparel but warned that the stronger dollar would take a toll on its current quarter. Apple which began trading in the Dow on Thursday, lost -1.3%. Biogen Idec jumped +9.8% after the company said its experimental treatment became the first Alzheimer’s treatment to significantly slow cognitive decline and reduce brain plaque in patients with early or mild forms of the disease. Tiffany & Co lost -4% after saying quarterly sales fell for the first time in five years and are expected to decline further in the current quarter.

 

Asian stocks rose as speculation the Federal Reserve will proceed more slowly with interest rate increases spurs a worldwide equity advance. The Nikkei 225 (+0.99%) and the Hang Seng (+0.49%) both increased, while the S&P/ASX 200 (-0.32%) declined. Eisai Co surged +21% after partner Biogen Idec Inc’s experimental treatment slowed progression of Alzheimer’s in an early stage study. Sharp Corp jumped +4.6% on a report Hon Hai Precision Industry Co may propose an investment in the company. Noble Group Lyd climbed +4.6% in Singapore after suing a former employee for conspiracy to injure the company by spreading false information this year.