Morning Spread

Morning Spread

Tuesday 27th September 2016
IndexLevelChg (%)
UK Market6824.59+0.10
Dow Indust Avg18094.83-0.91
S&P 5002146.10-0.86
Nasdaq Composite5257.49-0.91
Nikkei 22516683.93+0.84
Hang Seng23571.90+1.09
IndexLevelChg (%)
Nymex 1m45.52-0.89
Gold Spot1335.90-0.15
GBP/USD1.2967+0.08
GBP/EUR1.1536+0.03
EUR/USD1.1240-0.11
USD/JPY100.55-0.21

European stocks rose this morning, mirroring gains in Asia were stocks rose after Hilary Clinton was perceived by investors to be the winner of the first US presidential debate. The ESTX 50 (+0.38%), CAC 40 (+0.31%), Dax (+0.14%) and the UK markets (+0.08%) all posted gains in early trading. Close Brothers rose +3.5% following a rise in full year adjusted operating profit. Wolseley fell -4.5% as tough market conditions forced it to close 80 UK branches and a distribution centre. HSBC Holdings rose +1.39% for its first advance in four days.

US stocks fell as Deutsche Bank weighed on financials and investors awaited the first debate between US presidential candidates Hillary Clinton and Donald Trump. The Dow Jones Industrial Average (-0.91%), S&P 500 (-0.86%) and the Nasdaq Composite (-0.91%) all retreated. Many view a potential Clinton presidency as negative for pharmaceutical companies because of criticisms she has made about high prices. Trump has promised to dismantle the Affordable Care Act, which boosted health insurers since 2000. Deutsche Bank fell -7.06% to a record low after the bank said it had no need for German government assistance, a response to an earlier report that Chancellor Angela Merkel had warned not to expect any. JPMorgan declined -2.19% and Bank of America dropped -2.24%. Pfizer Inc fell -1.81% after it decided against splitting into two.

Asian stocks advanced with investors viewing Democratic candidate Hillary Clinton as having gotten the upper hand in the first US presidential debate. The S&P/ASX 200 (-0.47%) declined, but the Hang Seng (+1.09%) and the Nikkei 225 (+0.84%) both rallied. Ryoden Corp slumped -6.5% after slashing its operating profit forecast for the half year ending September 30th by 71%. Sumitomo Dainippon Pharma Co jumped +4.9% after the Nikkei newspaper reported that the company is in the final stage of clinical trials for a new type of cancer treatment in Japan and the US. Toshiba Corp climbed +5.8% after SMBC Nikko Securities raised its rating on the company to “outperform”.