Morning Spread

Morning Spread

Monday 28th July 2014
IndexLevelChg (%)
UK Market6798.58+0.10
Dow Indust Avg16960.57-0.72
S&P 5001978.34-0.48
Nasdaq Composite4449.56-0.50
Nikkei 22515529.40+0.46
Hang Seng24428.63+0.88
IndexLevelChg (%)
Nymex 1m101.71-0.37
Gold Spot1304.06-0.24
GBP/USD1.6976-0.01
GBP/EUR1.2638-0.01
EUR/USD1.3433+0.02
USD/JPY101.88-0.04

European stocks were mixed as investors awaited data on US services and home sales. The ESTX 50 (-0.07%), DAX (-0.12%), CAC 40 (+0.20%) and UK Markets (+0.02%) all posted small changes in early trading. Ryanair Holdings Plc added +4.6% after lifting its fiscal full year profit goal as it posted first quarter profit that more than doubled. Reckitt Benckiser Group rose +2.4% after saying it will spin off its pharmaceutical business. Wincor Nixdorf AG sank -7.9% after posting third quarter revenue that fell short of analysts’ estimates. Danone SA climbed +2.1% after it was reported that the company is in talks with Hospira Inc as a potential buyer for a medical nutrition unit.

 

US stocks fell as earnings at several companies missed estimates and durable goods data fuelled concern corporate investment remains stop and go. The Dow Jones Industrial Average (-0.72%), S&P 500 (-0.48%) and the Nasdaq Composite (-0.50%) all declined. Amazon plunged -9.7% after trailing analysts’ predictions for the second quarter. Visa sank -3.7% after lowering its full year revenue forecast. Pandora Media Inc dropped -10% after the number of active listeners reported by the Internet radio service missed some analysts’ estimates. Baidu Inc rose +11% after earnings topped projections. VeriSign Inc climbed +12% for the biggest advance in the S&P 500 and its steepest climb since 2009, after reporting earnings that beat analysts’ estimates.

 

Asian stocks rose as Chinese shares traded in Hong Kong headed for a bull market amid optimism government stimulus is boosting economic growth. The Hang Seng (+0.88%) and the Nikkei 225 (+0.46%) both advanced, while the S&P/ASX 200 (-0.11%) retreated. Bank of Communications Co soared +4.9% in Hong Kong on a report the bank wants to sell more stakes to private investors. Hitachi Chemical Co soared +9.5% in Tokyo after announcing job cuts and reporting a quarterly profit. Resona Holdings Inc jumped +5.4% after saying it would buy back preferred shares to repay public funds. Healthscope Ltd advanced +5.2% on its debut in Sydney after raising $2.1 billion in an initial public offering. Tokyo Electron Ltd fell -2.7% after DealReporter said a filing with China’s Ministry of Commerce for its acquisition by Applied Materials Inc has been withdrawn.