Morning Spread

Morning Spread

Wednesday 25th March 2015
IndexLevelChg (%)
UK Market7020.01+0.13
Dow Indust Avg18011.14-0.58
S&P 5002091.50-0.61
Nasdaq Composite4994.73-0.32
Nikkei 22519746.20+0.17
Hang Seng24528.23+0.53
IndexLevelChg (%)
Nymex 1m47.57+0.13
Gold Spot1191.42-0.16
GBP/USD1.4891-0.18
GBP/EUR1.3586-0.19
EUR/USD1.0961+0.38
USD/JPY119.62+0.04

European stocks were mixed this morning as investors awaited a survey on German business climate for insight on the outlook for Europe’s biggest economy. The ESTX 50 (-0.13%) and the CAC 40 (-0.18%) both declined, while the UK markets (+0.13%) and Dax (+0.09%) both increased. A potential purchase of Kraft Foods Group Inc by 3G Capital adds to reasons why Anheuser-Busch InBev NV won’t buy SABMiller, RBC Capital Markets LLC wrote. SABMiller slid -1.7% and AB InBev lost -0.8%. Accor SA dropped -3.8% after Eurazeo SA sold 11 million shares in the company for €48.75 apiece. Hermes International SCA lost -1.9% after its 2014 operating income fell short of the average analyst estimate.

 

US stocks fell with equities maintaining a tight range that corresponded with currency fluctuations as traders focused on the dollar’s strength and its possible effects on corporate earnings. The Dow Jones Industrial Average (-0.58%), S&P 500 (-0.61%) and the Nasdaq Composite (-0.32%) all declined. Data from home sales to inflation and manufacturing indicated the US economy remains strong, but failed to alter expectations of a faster or steeper monetary policy tightening path at the Federal Reserve. Google advanced +2.2% after it was reported the Morgan Stanley’s chief financial officer is leaving the bank to join Google. Whiting Petroleum Corp plunged -19% after announcing an offering of 35 million shares and a $1.75 billion mix of notes and convertible notes to help cut its near $6 billion debt load.

 

Asian stocks rose recovering yesterday’s losses as consumer staples companies led gains. The Nikkei 225 (+0.17%), Hang Seng (+0.53%) and the S&P/ASX 200 (+0.07%) all increased. Hengen International Group Co jumped +5.4% in Hong Kong after posting profit that beat estimates. Agricultural Bank of China Ltd fell -1.1% in Hong Kong after posting an unexpected decline in fourth quarter profit as the Chinese economy slows. Kyushu Electric Power Co surged +3.1% after regulators said they will begin inspections at the utility’s nuclear plant next week, raising prospects of a restart later this year. Toyo Engineering Corp slumped -15% as the construction firm said its Brazilian business will post a loss. Inpex Corp fell -1.2%.