Morning Spread

Morning Spread

Thursday 24th September 2015
IndexLevelChg (%)
UK Market6037.24+0.08
Dow Indust Avg16279.89-0.31
S&P 5001938.76-0.20
Nasdaq Composite4752.74-0.08
Nikkei 22517571.83-2.76
Hang Seng21095.98-0.97
IndexLevelChg (%)
Nymex 1m44.92+0.99
Gold Spot1135.42+0.45
GBP/USD1.5260+0.01
GBP/EUR1.3623-0.26
EUR/USD1.1201+0.25
USD/JPY120.02+0.15

European stocks were mixed as investors considered global growth prospects before a speech by Janet Yellen that may further clarify the central bank’s thinking on a US rate increase this year. The ESTX 50 (-0.16%) and CAC 40 (-0.38%) both declined, while the UK markets (+0.29%) and the Dax (+0.10%) both increased. Seadrill Ltd slid -3.3% after Canaccord Genuity cut its price target on the stock. Auto-related stock extended their rebound, led by Volkswagen AG, which gained +5%. PSA Peugeot Citroen SA climbed +2.5%.

 

US stocks declined as weak Chinese and US factory data added to growth concerns. The Dow Jones Industrial Average (-0.31%), S&P 500 (-0.20%) and the Nasdaq Composite (-0.08%) all finished trading down. Data showed US manufacturing growth stayed at a two year low in September, while Chinese factory activity shrank to a 6 ½ year low in the month. Boeing fell -1.7% despite saying it had won orders and commitments from China for aircraft valued at about $38 billion at list prices. Chevron dropped -1.4% after US crude oil futures lost -2.1%. Consol Energy Inc and Transocean Ltd sank more than -5.7%. Chesapeake Energy Corp slid -5.3%. NCR Corp sank -4.5% after the New York Post reported Blackstone Group LP had dropped its pursuit of the company.

 

Asian stocks fell as Japanese markets opened after a three day holiday. The Nikkei 225 (-2.76%) and the Hang Seng (-0.83%) both declined, while the S&P/ASX 200 (+1.47%) advanced. Mazda Motor Corp sank -6.8% and NGK Insulators Ltd, which counts Volkswagen as a customer, plunged -7%. Sharp Corp tumbled -5.5% after it was reported that the company will miss its first half profit forecast. Komatsu Ltd slid -5.8% after Goldman Sachs Group Inc cut its rating on the company. Avic Aviation Engine Corp surged +5.8% after Boeing Co unveiled its largest industrial investment in China.