Morning Spread

Morning Spread

Wednesday 24th June 2015
IndexLevelChg (%)
UK Market6872.16+0.55
Dow Indust Avg18144.07+0.13
S&P 5002124.20+0.06
Nasdaq Composite5160.10+0.12
Nikkei 22520868.03+0.28
Hang Seng27404.97+0.26
IndexLevelChg (%)
Nymex 1m61.40+0.64
Gold Spot1176.41-0.19
GBP/USD1.5796-0.49
GBP/EUR1.4080+0.07
EUR/USD1.1218+0.41
USD/JPY123.88-0.02

European stocks advanced amid optimism that a deal on Greek debt is within reach. The ESTX 50 (+0.04%), UK markets (+0.22%) and the Dax (+0.07%) all posted gains in early trading, while the UK markets (-0.18%) retreated. Royal Ahold NV added +3.3% after agreeing to acquire Delhaize Group for about €9.32 billion in shares. Delhaize slid -3.7%. Julius Baer Group Ltd rose +4.7% after saying it will take a provision of $350 million by the end of the month to settle a US criminal investigation into whether it helped Americans evade taxes. Bouygues SA tumbled -7.5% after rejecting Altice’s bid for its telecommunications unit. Altice slid -7%, while shares in Numericable-SFR, which is owned by Altice, also slumped -12%. Shares in French rivals Orange and Iliad also weakened by -3.4% and -6.2% respectively.

 

US stocks made modest gains as investors continued to await clarity on whether Greece could reach a deal to prevent defaulting on its loans. The Dow Jones Industrial Average (+0.13%), S&P 500 (+0.06%) and the Nasdaq Composite (+0.12%) all increased. US crude futures settled up +1% at $61.01 per barrel, lifted ahead of US inventory data expected to show strong demand for oil. The S&P energy index rose +0.3% and was one of the day’s top performing sectors. Halliburton Co rose +0.9%. AT&T Inc rose +2.5% after at least to brokerages upgraded the stock. Facebook Inc shares rose +3.7% giving it a bigger market value than that of Wal-Mart Stores Inc.

 

Asian stocks rose amid signs that the Japanese economy is improving and Chinese shares were aided by liquidity unlocked from IPO’s, as some investors took advantage of last week’s market collapse to buy relatively cheap shares. The Nikkei 225 (+0.28%), Hang Seng (+0.36%) and the S&P/ASX 200 (+0.04%) all advanced. PetroChina Co rallied +2.8% after Caixin cited its president as saying the company’s first half profit was better than expected. China Petroleum & Chemical Corp surged +4% after Macquarie Group upgraded the stock to “outperform”. Japanese brokerages advanced, with Nomura Holdings Inc rising +1.3%. Mitsubishi UFJ Financial Group Inc and Sumitomo Mitsui Financial Group Inc each adding +0.6%.