Morning Spread

Morning Spread

Thursday 26th March 2015
IndexLevelChg (%)
UK Market6905.22-1.23
Dow Indust Avg17718.54-1.62
S&P 5002061.05-1.46
Nasdaq Composite4876.52-2.37
Nikkei 22519471.12-1.39
Hang Seng24497.08-0.13
IndexLevelChg (%)
Nymex 1m51.34+4.33
Gold Spot1212.00+1.39
GBP/USD1.4986-0.70
GBP/EUR1.3583+0.12
EUR/USD1.1032+0.58
USD/JPY118.43+0.91

European stocks followed their US and Asian counterparts by heading lower this morning. The ESTX 50 (-1.29%), UK markets (-1.13%), CAC 40 (-1.17%) and the Dax (-1.56%) all posted losses in early trading. London Stock Exchange Group Plc fell -8% as Borse Dubai Ltd said it was selling its entire stake in the exchange. Havas SA slid -7.5% after Group Bollore sold a 22.5% stake in the advertising company. ARM fell -4.8% on concerns over weak computer sales weighing on the technology sector. Royal Bank of Scotland Group Plc fell -0.6% after saying that investors agreed to pay $3.21 billion in a public offering for a 25% stake in its US unit Citizens Financial Group Inc. Airbus Group NV declined -0.8% after saying it sold additional shares in Dassault Aviation SA, cutting its holding in the company to 24.6%.

 

US stocks dropped on Wednesday as a slump in technology and biotechs sent the Nasdaq to its biggest decline in nearly a year. The Dow Jones Industrial Average (-1.62%), S&P 500 (-1.46%) and the Nasdaq Composite (-2.37%)  all dropped. Kraft Foods surged +35.6% after a merger agreement with H.J.Heinz Co, owned by 3G Capital and Berkshire Hathaway. Berkshire Class B shares slipped -0.5%. Kofax Ltd rallied +46% after Lexmark International said it would buy Kofax in a deal of about $1 billion that would double the size of its enterprise software business. Lexmark shares climbed +6.1%. After the closing bell, Red Hat shares gained +4.6% after posting quarterly results and authorised a $500 million share buyback plan.

 

Asian shares declined as tech drive losses on Wall Street and escalating tensions in the Middle East provided a tailwind for oil prices. The Nikkei 225 (-1.39%), Hang Seng (-0.13%) and the S&P/ASX 200 (-1.58%) all retreated. Samsung Electronics Co tumbled -4.3% in Seoul, while Tokyo Electron Ltd slumped -5.8% in Tokyo. Daewoo Engineering & Construction Co plunged -9% after a report the South Korean contractor may face regulatory sanctions over alleged irregular accounting practices. China Mengniu Dairy Co surged +9.8% in Hong Kong after posting full year profit that beat analyst estimates. Japanese exporters fell as the yen strengthened. TDK slid -4.5% and Nissan Motor Co dropped -2.1%.