Morning Spread

Morning Spread

Thursday 26th September 2013
IndexLevelChg (%)
UK Market6544.91-0.10
Dow Indust Avg15273.26-0.40
S&P 5001692.77-0.27
Nasdaq Composite3761.10-0.19
Nikkei 22514799.12+1.22
Hang Seng23125.03-0.36
IndexLevelChg (%)
Nymex 1m102.80+0.14
Gold Spot1337.63+0.24
GBP/USD1.6043+0.22
GBP/EUR1.1877-0.08
EUR/USD1.3508-0.15
USD/JPY--

European stocks were little changed as investors awaited a report that may show US jobless claims rose last week. The ESTX 50 (-0.29%), FTSE 100 (-0.04%), CAC 40 (-0.36%) and DAX (-0.25%) all posted small movements in early trading. Hennes & Mauritz AB added +6.8% after reporting third quarter profit that beat analysts’ estimates. Vinci SA gained +0.8% after Les Echos reported that Europe’s biggest builder could sell all or part of its parking unit. Colruyt SA fell -3.1% after forecasting full year net income of around €369 million compared with analysts’ estimates of €381.2 million. TUI Travel Plc climbed +2% after raising its full year outlook for operating profit growth. Tullow Oil Plc advanced +1.1% after saying it has discovered more oil in northern Kenya. Centrica Plc slipped -1.6% after JPMorgan Chase & Co downgraded the company. Ladbrokes Plc tumbled -8.2% after the gambling company said operating profit for its digital business in 2013 will fall short of the consensus analyst estimate.

US stocks fell as Wal-Mart Stores Inc retreated and concern grew that a political showdown over government spending poses a threat to growth. The Dow Jones Industrial Average (-0.40%), S&P 500 (-0.27%) and the NASDAQ Composite (-0.19%) all declined. Wal-Mart lost -1.5% after the retailer told suppliers it’s cutting orders this quarter and next to address rising inventories. J.C.Penney Co slumped -15% as Goldman Sachs Group said the company’s liquidity will be strained. Stryker Corp slipped -2.9% on an agreement to buy Marko Surgical Corp for $1.65 billion. Noble Corp added +1.8% after the offshore rig contractor said it plans to spin off half its flat. Carnival Corp lost -5.3%, extending a -7.7% drop in the previous session, after forecasting an unexpected loss for the fourth quarter. JPMorgan Chase & Co rallied +2.7%, the most in the Dow, snapping a two day losing streak that pushed the stock down -4.7%. Facebook Inc rallied +2.1% after Canaccord Financial Inc initiated coverage of the company with a buy rating.

Asian stocks climbed amid speculation the nation’s government will study a corporate tax cut and advise public pension funds to hold more risky assets. The Nikkei 225 (+1.22%) and the S&P/ASX 200 (+0.35%) both advanced, while the Hang Seng (-0.35%) declined. Honda Motor Co climbed +1.4% in Tokyo as the yen weakened against the dollar for the first time in five days. Mazda Motor Corp advanced +2.3%. Canon Inc, a camera maker that gets 79% of sales outside Japan, climbed +1.4%. Finsoft Corp surged +534% on its trading debut in Hong Kong. Advantest Corp sank -3.2% after forecasting a loss. Nitto Denko Corp slumped -10% as BNP Paribas advised selling shares of the company, saying the surge since the announcement of its inclusion in the Nikkei 225 was overdone.