Morning Spread

Morning Spread

Friday 26th September 2014
IndexLevelChg (%)
UK Market6624.06-0.24
Dow Indust Avg16945.80-1.54
S&P 5001965.99-1.62
Nasdaq Composite4466.75-1.94
Nikkei 22516229.86-0.88
Hang Seng23678.41-0.38
IndexLevelChg (%)
Nymex 1m92.37-0.17
Gold Spot1224.62+0.25
GBP/USD1.6326-0.15
GBP/EUR1.2802+0.04
EUR/USD1.2753+0.10
USD/JPY109.00-0.21

European stocks declined as investors awaited data on US gross domestic product to gauge the outlook for interest rates in the world’s largest economy. The ESTX 50 (-0.12%), CAC 40 (-0.03%), Dax (-0.38%) and the UK markets (-0.26%) all posted losses in early trading. Air France-KLM Group dropped -2.8% after the board said pilot demands don’t fit with its plans for a low cost model. J Sainsbury Plc lost -1.7% after Barclays Plc cut its price estimate, citing the likelihood of weak second quarter like for like sales and the possibility of the company changing its profit guidance. Barclays Plc lost -0.35% after settling a lawsuit with London trading company CF Partners after a judge found that the bank had misused confidential information during its acquisition of a Swedish carbon trading company.  

 

US stocks fell as Apple Inc tumbled and concern grew over tensions overseas. The Dow Jones Industrial Average (-1.54%), S&P 500 (-1.62%) and the Nasdaq Composite (-1.94%) all retreated. Apple plunged -3.8% amid problems following the introduction of the iPhone 6, sending technology stocks in the S&P 500 to the biggest decline since April. Biogen Idec Inc and Illumina Inc slid more than -2.8% to pace declines in the Nasdaq. Allegheny Technologies sank -4.8% as commodities declined after the dollar touched a four year high. TripAdvisor Inc lost -3.3% as investors sold some of the bull market’s biggest winners. Micron Technology Inc fell -3.4% after the market closed after reporting its fourth quarter results. Nike Inc rose +4.1% in after-hours trading. Motorola Solutions Inc added +0.7% after it said it would reduce its pension plan liability by $4.2 billion.

 

Asian stocks fell after US stocks tumbled and as the yen gained against the dollar. The S&P/ASX 200 (-1.28%), Hang Seng (-0.44%) and the Nikkei 225 (-0.88%) all declined. PT Bank Mandiri tumbled -4.3% in Jakarta after Indonesia’s parliament passed a law scrapping direct local elections, ending a decade long system of regional democracy. Fanuc Corp surged +4.1% after increasing its annual profit forecast. Japanese exporters suffered as the yen strengthened against the dollar. Toyota Motor Corp lost -1.5% in Tokyo. A gauge tracking energy producers on the MSCI China Index retreated -1%. China Petroleum & Chemical Corp slid -1.6% and Shenhua Energy fell -1.6%. China Pacific Insurance (Group) Co decreased -1.6%.