Morning Spread

Morning Spread

Thursday 25th June 2015
IndexLevelChg (%)
UK Market6844.51-0.21
Dow Indust Avg17966.07-0.98
S&P 5002108.58-0.74
Nasdaq Composite5122.41-0.73
Nikkei 22520771.40-0.46
Hang Seng27145.75-0.95
IndexLevelChg (%)
Nymex 1m60.19-0.13
Gold Spot1174.61-0.07
GBP/USD1.5714-0.19
GBP/EUR1.4015-0.05
EUR/USD1.1212+0.24
USD/JPY123.77+0.22

European stocks extended a selloff as another round of Greek bailout talks yielded no results before an impending payment deadline. The ESTX 50 (-0.10%), UK markets (-0.21%) and the CAC 40 (-0.27%) all posted losses in early trading, while the Dax (+0.07%) was slightly positive. Hennes & Mauritz AB fell -1.8% after its quarterly gross margin and net income missed analysts’ estimates. Electrolux AB lost -1.6% after Dagens Indusrti reported the company’s CEO plans to step down. Vivendi SA climbed +1% after saying it increased its stake in Telecom Italia SpA.

 

US stocks dropped as the outcome of negotiations between Greece and its creditors remained up in the air, prompting investors to drop riskier assets like equities. The Dow Jones Industrial Average (-0.98%), S&P 500 (-0.74%) and the Nasdaq Composite (-0.73%) all decreased. Monsanto fell -5.7%, and was the S&P’s biggest percentage decliner, after saying it would pursue an acquisition of Swiss rival Syngenta, even as it warned of market challenges ahead. Netflix dipped -0.4% after investor Carl Icahn said his firm sold the remainder of its stake in the company. The stock moved on heavy volume of nearly 11 million shares, the most active day since April, a day after the board approved a seven for one stock split. Lennar rose +4.2% after reporting a better than expected 33% jump in quarterly profit as it sold more homes at higher prices.

 

Asian stocks fell, following global equities lower, as Greece and its creditors broke off talks for the night in Europe without reaching a deal. The Nikkei 225 (-0.46%), Hang Seng (-0.74%) and the S&P/ASX 200 (-0.95%) all retreated. Fanuc Corp sank -2.7% after Goldman Sachs Group Inc cut its target price on the company. Jtekt Corp jumped +4% after Goldman Sachs upgraded its investment rating. iFlag Co surged +45% after Hikari Tsushin Inc said it would make the IT company a wholly owned unit. Toyota sank -1.3% and Nissan Motor Co lost -1.6%.