Morning Spread

Morning Spread

Tuesday 24th March 2015
IndexLevelChg (%)
UK Market7036.76-0.01
Dow Indust Avg18116.04-0.06
S&P 5002104.42-0.17
Nasdaq Composite5010.97-0.31
Nikkei 22519713.45-0.21
Hang Seng24399.60-0.39
IndexLevelChg (%)
Nymex 1m47.19-0.55
Gold Spot1190.79+0.11
GBP/USD1.4949-0.05
GBP/EUR1.3613-0.40
EUR/USD1.0981+0.45
USD/JPY119.52+0.22

European stocks gained after data showed France’s private sector expanded for the second straight month in March, backing up recent data that shows the euro zone’s second largest economy is edging back to growth. The ESTX 50 (+0.18%), UK markets (+0.22%), CAC 40 (+0.23%) and the Dax (+0.31%) all posted gains in early trading. Burberry Group Plc, Persimmon Plc and Unilever rose more than +1% each, pacing gains among European personal and household goods shares. Wolseley Plc fell -2.5% after saying first half pre-tax profit fell. Centrica Plc dropped -2.1% as Deutsche Bank AG recommended selling the shares. Kingfisher Plc, which has been in talks to buy Mr.Bricolage SA, lost -1.3% after saying the French company’s board and a major shareholder have doubts over the deal.  

 

Asian stocks were down after a measure of Chinese factory activity dented sentiment by unexpectedly dropping to an 11 month low. The Nikkei 225 (-0.21%) and the Hang Seng (-0.39%) both retreated, while the S&P/ASX 200 (+0.22%) advanced. GS Yuasa Corp slumped -3.1% after cutting its full year profit forecast on a write-down and slower sales. Seiko Epson Corp slumped -2% after JPMorgan Chase & Co cut its rating on the stock. Eisai Co climbed +9.4%, extending yesterday’s gain of 21% on positive study results for a partner’s Alzheimer’s drug. Nissan Motor Co, which gets more than 77% of its sales overseas, dropped -0.7%. Honda fell -1%. China Shenhua Energy Co lost -1.7% after the preliminary Purchasing Manager’s Index from HSBC Holdings Plc and Markit Economics fell to an 11 month low. Zijin Mining rose by the daily limit after agreeing to buy a 9.9% stake in Ivanhoe Mines Ltd.   

 

US stocks declined as investors weighed fluctuations in the dollar and its impact on other markets, including crude prices. The Dow Jones Industrial Average (-0.06%), S&P 500 (-0.17%) and the Nasdaq Composite (-0.31%) all decreased. Brent settled up +1.1% at $55.92a barrel, while US crude settled up +1.9%. The decline in the dollar outweighed oversupply concerns after Saudi Arabia said it would only consider cutting output if producers outside OPEC do so as well. Kansas City Southern dropped -8% as the worst performer in the S&P 500 after cutting its full year revenue forecast. Tiffany & Co rallied +5.8% after a 4% selloff on Friday. Apple, EBay and International Business Machines Corp rose more than +1% each as technology shares gained. Consumer-staples producers in the S&P 500 rose. Mondelez added +1.6%, Reynolds American gained +2.3% and Archer-Daniels-Midland Co advanced +0.3% .