Morning Spread

Morning Spread

Monday 26th January 2015
IndexLevelChg (%)
UK Market6820.55-0.18
Dow Indust Avg17672.60-0.79
S&P 5002051.82-0.55
Nasdaq Composite4757.88+0.16
Nikkei 22517468.52-0.25
Hang Seng24909.90+0.24
IndexLevelChg (%)
Nymex 1m45.12-1.03
Gold Spot1284.31-0.76
GBP/USD1.5016-0.18
GBP/EUR1.3357-0.17
EUR/USD1.1242+0.34
USD/JPY118.22-0.37

European stocks were mixed as Greek opposition party Syriza won Sunday’s election. The ESTX 50 (+0.24%), Dax (+0.42%) and the CAC 40 (+0.25%) all posted gains in early trading, while UK markets (-0.03%) were slightly down. Aer Lingus Group Plc added +3% after International Consolidated Airlines Group made an improved offer to take over the company, which is supported by the board. Anglo American Plc and BHP Billiton Ltd dropped more than -2.7%, leading losses among miners. Tullow Oil plc and BG Group Plc declined more than -1.7% as oil slid amid signs that Saudi Arabia’s new king will maintain its production policy. Shire rose +3.4% after its natpara treatment won US approval for chronic use.

 

US stocks fell as weaker than forecast results at several companies offset confidence that central banks will support global growth. The Dow Jones Industrial Average (-0.79%) and the S&P 500 (-0.55%) both declined, while the Nasdaq Composite (+0.16%) was slightly up. UPS slumped -9.9% after saying its preliminary 2014 earnings were lower than previously forecast, after an over expanded program to handle a deluge of holiday shipments. Kimberley-Clark dropped -6.1% after forecasting 2045 earnings that missed estimates. FedEx Corp lost -3% even after reaffirming its 2015 forecast in the wake of UP’s outlook. Honeywell International Inc added +3.1% after it posted fourth quarter profits that surpassed analysts’ estimates. General Electric Co rose +0.8% as rising sales in its power and water business helped fourth quarter profit beat analysts’ estimates.

 

Asian stocks were mixed after Greek voters handed victory to a party that’s pledged to renegotiate the terms of its bailout. The S&P/ASX 200 (+1.51%) and the Hang Seng (+0.24%) both advanced, while the Nikkei 225 (-0.25%) declined. Nippon Sheet Glass Co, which counts Europe as its biggest market for sales, slipped -2.8% in Tokyo. Cnooc Ltd fell -1.3% in Hong Kong after oil extended losses after dropping to the lowest level in almost six years. PetroChina Co and China Coal Energy Co slid -1% in Hong Kong. Keppel Land Ltd jumped +25% in Singapore as the developer resumed trading after parent Keppel Corp offered as much as $2.4 billion to buy shares of its unit. Bridgestone Corp gained +2.9% after Morgan Stanley raised the company’s rating.