Morning Spread

Morning Spread

Thursday 25th September 2014
IndexLevelChg (%)
UK Market6709.95+0.05
Dow Indust Avg17210.06+0.90
S&P 5001998.30+0.78
Nasdaq Composite4555.22+1.03
Nikkei 22516374.14+1.28
Hang Seng23768.13-0.64
IndexLevelChg (%)
Nymex 1m92.68-0.13
Gold Spot1210.65-0.53
GBP/USD1.6302+0.21
GBP/EUR1.2812+0.27
EUR/USD1.2725-0.48
USD/JPY109.24-0.34

European stocks advanced as investors watched a speech by European Central Bank President Mario Draghi for clues on stimulus measures. The ESTX 50 (+0.32%), UK markets (+0.11%), CAC 40 (+0.26%) and the Dax (+0.38%) all posted gains in early trading. Cairn Energy Plc added +2.8% after agreeing to sell a 10% stake at a North Sea development. Air France-KLM Group rose +2.2% after withdrawing a plan to set up a low cost subsidiary, removing the cause for a strike by its French pilots. Direct Line Insurance Group Plc gained +2.9% after agreeing to sell its international division Mapfre SA. H&M fell -3% after reporting in-line quarterly profits but added that sales had slowed in September.

 

US stocks rebounded as new home sales climbed to a six year high and health care shares rallied with producers consumer staples. The Dow Jones Industrial Average (+0.90%), S&P 500 (+0.78%) and the Nasdaq Composite (+1.03%) all advanced. Bed Bath & Beyond Inc added +7.4% after posting quarterly profit and sales that topped analysts’ estimates. Wal-Mart Stores Inc jumped +2% after reaching a deal to offer checking accounts to its customers. Citizens Financial Group Inc gained +7.4% in its debut after raising $3 billion in an initial public offering. Medtronic Inc slipped -0.5% while AbbVie Inc climbed +2.6% as both companies have separate pending deals that will be subject to new rules governing tax inversion deals.

 

Asian stocks rose from the lowest level in more than three months as US new home sales spurred optimism about the world’s largest economy, weakening the yen and sending Japanese exports higher. The Nikkei 225 (+1.28%) and the S&P/ASX 200 (+0.12%) both increased, while the Hang Seng (-0.64%) declined. Toyota Motor Corp, a company that gets 75% of sales overseas, climbed +2% in Tokyo as the yen traded near the weakest since 2008. Shanghai Electric Group Co, which makes generator equipment used in nuclear power plants, jumped by the +10% daily limit in Shanghai after the China Securities Journal reported the government will allow four nuclear power projects to be built. Minebea Co added +5.1% after a report the company’s operating profit will probably beat its forecast.