Morning Spread

Morning Spread

Friday 27th May 2016
IndexLevelChg (%)
UK Market6258.82-0.11
Dow Indust Avg17828.29-0.13
S&P 5002090.10-0.02
Nasdaq Composite4901.77+0.14
Nikkei 22516834.87+0.37
Hang Seng20576.77+0.88
IndexLevelChg (%)
Nymex 1m48.99-0.99
Gold Spot1221.74+0.16
GBP/USD1.4651+0.02
GBP/EUR1.3104-0.06
EUR/USD1.1180+0.04
USD/JPY109.70+0.09

European stocks were negative this morning, despite optimism that the global economy can withstand higher US borrowing costs. The ESTX 50 (-0.26%), CAC 40 (-0.36%), Dax (-0.20%) and the UK markets (-0.07%) all posted losses in early trading. Rio Tinto Group and Glencore Plc climbed at least +1.5% as metal prices rose. Capita Plc fell -1.7% after Exane BNP Paribas cited concern over the company’s earnings and cut its rating on the shares to “underperform” from “neutral”

US stocks were little changed as advancing utilities offset declines in materials, banks and other cyclical industries. The Dow Jones Industrial Average (-0.13%) and the S&P 500 (-0.02%) both declined, while the Nasdaq Composite (+0.14%) was positive. Apple shares rose +0.79%, providing the biggest boost to the S&P 500, while Citigroup fell -1.77%, weighing most on the index. Dollar General rose over +4% and Dollar Tree rallied nearly +13%, both hitting record highs after reporting better than expected quarterly profits. Abercrombie & Fitch slumped -15.67% after posting its 13th straight quarter of sales declines. Wholesale rose +3.58% a day after posting quarterly earnings.

Asian stocks rose as investors awaited comments from the head of the Federal Reserve and Japanese shares climbed amid speculation the nation will delay a sales tax increase. The S&P/ASX 200 (+0.33%), Hang Seng (+0.88%) and the Nikkei 225 (+0.37%) all advanced. Inpex Corp added +3.6%, while Tokio Marine Holdings advanced +1.3%. Toshiba Corp jumped +11% after JPMorgan raised its rating on the company to “overweight” from “underweight”. Takata Corp declined -8.1% following reports that the company is in talks with KKR & Co about a possible takeover.