Morning Spread

Morning Spread

Monday 25th July 2016
IndexLevelChg (%)
UK Market6754.46+0.36
Dow Indust Avg18570.85+0.29
S&P 5002175.03+0.46
Nasdaq Composite5100.16+0.52
Nikkei 22516620.29-0.04
Hang Seng21948.94-0.07
IndexLevelChg (%)
Nymex 1m44.08-0.25
Gold Spot1315.81-0.50
GBP/USD1.3142-0.25
GBP/EUR1.1971+0.24
EUR/USD1.0978+0.01
USD/JPY106.26-0.12

European shares rose this morning after Ryanair issued a bullish outlook and reports emerged of bid interest in William Hill. The ESTX 50 (+0.49%), CAC 40 (+0.51%), Dax (+0.74%) and the UK markets (+0.25%) all posted gains in early trading. Ryanair rose +5.5% after saying it remained on track for its highest ever profit this year, although it also warned it may yet have to review guidance since Brexit had created huge uncertainty. William Hill jumped +9.4% after 888 Holdings and Rank Group said they were joining forces with a view to making a bid for William Hill. Ericsson AB increased +5.3% after its CEO stepped down after more than six years at the helm of the company.

US stocks rose, boosted by strength in telecom companies AT&T and Verizon and a US manufacturing report that came in above expectations. The Dow Jones Industrial Average (+0.29%), S&P 500 (+0.46%) and the Nasdaq Composite (+0.52%) all increased. AT&T climbed +1.4% after its results. Verizon rose +1.3% after Reuters reported that the company is the front runner for Yahoo’s core business. Yahoo closed +1.4%. GE shares slid -1.6% after reporting weak demand for oil, gas and transportation equipment. Honeywell fell -2.6% after the diversified manufacturer lowered its full year sales forecast.

Asian shares held near nine month highs as assurance from policymakers on the need to boost growth quelled worries over the impact of Britain’s Brexit vote. The S&P/ASX 200 (+0.64%) and the Hang Seng (+0.13%) both gained, while the Nikkei (-0.04%) was pretty much flat. Policymakers from the G20 countries agreed at the weekend to work to support global growth and better share the benefits of trade, in a meeting dominated by the impact of the UK’s exit from Europe and fears of rising protectionism. Nintendo tumbled -18% after saying the financial impact from Pokemon Go will be limited. McDonald’s Holdings Co (Japan) which last week said it was sponsoring Pokemon Go, slumped -12%. Nidec Corp jumped +4.2% after posting profit that beat analyst estimates.