Morning Spread

Morning Spread

Wednesday 26th March 2014
IndexLevelChg (%)
UK Market6637.60+0.50
Dow Indust Avg16367.88+0.56
S&P 5001865.62+0.44
Nasdaq Composite4234.27+0.19
Nikkei 22514477.16+0.37
Hang Seng21887.75+0.72
IndexLevelChg (%)
Nymex 1m99.29+0.10
Gold Spot1314.43+0.25
GBP/USD1.6529-0.01
GBP/EUR1.1980+0.21
EUR/USD1.3797-0.21
USD/JPY

European stocks advanced as investors awaited data on US durable goods orders. The ESTX 50 (+0.61%), UK Markets (+0.36%), DAX (+0.74%) and the CAC 40 (+0.60%) all posted gains in early trading. Airbus Group NV rose +1% after Les Echoes reported it is extending its partnership with Aviation Industry Corporation of China. Mediaset SpA added +1.6% after reporting a return to profit for 2013%. Lloyds Banking Group Plc slid -4.6% as the UK government sold a stake in the bank. William Hill Plc gained +2.5% after HSBC Holdings Plc recommended buying the shares. SSE Plc increased +1.7% after saying it will dispose of £1 billion in assets and separate its retail and wholesale units.

 

US stocks advanced as commodity and health-care shares rallied and economic data showed consumer confidence at a six year high. The Dow Jones Industrial Average (+0.56%), S&P 500 (+0.44%) and the Nasdaq Composite (+0.19%) all advanced. Large companies led the gains as investors opted for less volatile stocks. IBM advanced +3.6%, Cisco gained +3.6% and J&J rose +2.3%. Freeport-McMoRan climbed +1.5% after copper rose the most in 15 weeks in New York on speculation that demand will improve as China takes steps to bolster economic growth. Walgreen Co climbed +3.3% after saying it plans to close 76 pharmacies in the second half of 2014. Sonic Corp rallied +11% after reporting profit that beat analysts’ projections. McCormick & Co advanced +5.5% after reporting first-quarter profit and sales that exceeded analysts’ estimates.

 

Asian stocks rose after US consumer confidence climbed to a six year high, increasing investor optimism about the outlook for the US economy. The Nikkei 225 (+0.37%), Hang Seng (+0.72%) and the S&P/ASX 200 (+0.75%) all rallied. China Mengniu Dairy Co soared +8.6% in Hong Kong after posting a 25% profit gain last year. Kirin Holdings Co advanced +2.6% on a report the company will raise its annual dividend to at least 40 yen and consider a share buyback. Agricultural Bank of China Ltd surged +3.4% after reporting that fourth quarter net income jumped 13% from a year earlier.