Morning Spread

Morning Spread

Monday 25th April 2016
IndexLevelChg (%)
UK Market6266.29-0.70
Dow Indust Avg18003.75+0.12
S&P 5002091.580.00
Nasdaq Composite4906.23-0.80
Nikkei 22517439.30-0.76
Hang Seng21304.44-0.76
IndexLevelChg (%)
Nymex 1m43.35-0.87
Gold Spot1235.63+0.25
GBP/USD1.4425-0.15
GBP/EUR1.2815-0.18
EUR/USD1.1257+0.31
USD/JPY111.12+0.60

European shares declined as energy and commodity producers retreated, while investors assessed earnings and growth prospects ahead of economic data this week. The ESTX 50 (-0.83%), UK markets (-0.69%), CAC 40 (-0.78%) and the Dax (-0.87%) all posted losses in early trading. Rio Tinto Group and BHP Billiton Ltd fell at least -2.2% as base metals retreated. Royal Philips NV dropped -4% after saying it is considering an initial public offering of its lighting business, after reporting better than estimated quarterly profit. Zodiac Aerospace SA fell -1% as Reuters cited an unnamed person as saying that an offer for the company from Safran SA was not on the agenda. Safran SA rose +2%. Volkswagen AG lost -2% and Daimler AG fell -1.5%.  

 

US stocks were mixed on Friday after disappointing quarterly reports from some tech companies, while a surge in oil prices lifted energy shares. The Dow Jones Industrial Average (+0.12%) gained, while the S&P 500 (0.00%) was flat and the Nasdaq Composite (-0.80%) declined. Helped by a softer dollar and a recovery in oil prices, the S&P 500 has rebounded from a steep selloff earlier this year and is only about 2% short of last May’s record high. Microsoft dropped -7.17%, contributing the biggest drag to the S&P 500 and Alphabet lost -5.41% as investors punished both companies for missing profit and revenue estimates. Starbucks fell -4.88% after missing sales expectations, while Visa lost -2.08% after it cut full year revenue forecast.

 

Asian shares dropped as investors took profits from the currency’s recent gains ahead of central bank meetings in the United States and Japan this week. The Nikkei 225 (-0.76%), Hang Seng (-0.92%) and the S&P/ASX 200 (-0.69%) all retreated. H.I.S Co sank -6.4% after cutting its forecast for first half operational profit by 25% to 8.3 billion yen. The company now sees a net loss when it previously saw a profit. Toyota Motor Corp climbed +1.2%. KDDI Corp sank -4.1% and Nippon Telegraph & Telephone Corp slumped -3.1%. Aluminium Corp of China Ltd dropped -1.4% while China Minmetals Rare Earth Co dropped -3.8%.