Morning Spread

Morning Spread

Friday 27th November 2015
IndexLevelChg (%)
UK Market6373.14-0.31
Dow Indust Avg17813.390.00
S&P 5002088.870.00
Nasdaq Composite5116.140.00
Nikkei 22519883.94-0.30
Hang Seng22068.32-1.87
IndexLevelChg (%)
Nymex 1m42.22-1.91
Gold Spot1067.67-0.42
GBP/USD1.5061+0.32
GBP/EUR1.4203-0.23
EUR/USD1.0604-0.09
USD/JPY122.48+0.08

European stocks retreated this morning as investors assessed gains after equities advanced to a three month high on speculation of further central bank stimulus. The ESTX 50 (-0.39%), UK markets (-0.39%), CAC 40 (-0.46%) and the Dax (-0.28%) all posted losses in early trading. China, the world’s biggest consumer of metals, saw stocks slide after a fresh regulatory crackdown and deteriorating industrial profits data. Miners led the declines as commodity prices fell. Anglo American Plc dropped -2.5%, Rio Tinto Group slid -1.3% and BHP Billiton Ltd dropped -1.3%. Banks added to losses before the Bank of England gives results of its stress tests next week. Standard Chartered Plc dropped -1.3%, while HSBC Holdings Plc fell -1.1%.

 

Asian stocks declined as a tumble in mainland Chinese stocks triggered anxiety across the region. The Nikkei 225 (-0.30%), Hang Seng (-1.87%) and the Nasdaq Composite (-0.16%) all decreased. Investors, already bracing for a likely US interest rate rise next month, took cues from a slump in the China market, which was triggered by fresh voluntary crackdowns and poor industrial profit data. CITIC Securities tumbled -4.9% after saying it was under investigation by China’s stock regulators. ANA Holdings Inc fell -1.8% and Japan Airlines Co retreated -2.3% after Mitsubishi UFJ Morgan Stanley Securities Co said both company’s face a drop in fuel surcharges from December 1st and stiffer competition from Chinese rivals. The broker lowered its price target for both companies, and maintained their neutral waiting. Sumitomo Metal Mining Co climbed +2.1% after copper jumped as much as 4.2%, while Nisshin Steel Co rose +1.3%.  

 

US markets were closed for Thanksgiving holiday.