Morning Spread

Morning Spread

Thursday 28th July 2016
IndexLevelChg (%)
UK Market6742.07-0.12
Dow Indust Avg18472.17-0.01
S&P 5002166.58-0.12
Nasdaq Composite5139.81+0.58
Nikkei 22516476.84-1.13
Hang Seng22174.34-0.20
IndexLevelChg (%)
Nymex 1m41.97+0.12
Gold Spot1342.62+0.20
GBP/USD1.3209-0.59
GBP/EUR1.1892-0.47
EUR/USD1.1108+1.07
USD/JPY104.72+0.93

European stocks were little changed as investors assessed a slew of earnings reports. The ESTX 50 (-0.02%) and the UK Markets (+0.01%) were both flat in early trading, while the CAC 40 (+0.35%) and the Dax (+0.25%) both advanced. BNP Paribas SA gained +2.1% after its net income topped projections. Credit Suisse Group AG climbed +2.3% after unexpectedly returning to profit in the second quarter. Anglo American added +5.9% on better than forecast first half sales and earnings. Rolls-Royce Holdings Plc jumped +8.1% after posting profit that beat predictions and saying it’s on course to deliver a stronger second half of the year. Logitech International SA rallied +7.5% after reporting quarterly earnings that topped analyst estimates and boosted its 2017 estimates. Shell slid -3.5% after posting profit that was about half the average analyst estimate.

 

US stocks were mixed after the Federal Reserve left interest rates unchanged but opened the door to a possible rate increase later this year. The Dow Jones Industrial Average (-0.01%) was flat, the S&P 500 (-0.12%) declined and the Nasdaq Composite (+0.58%) increased. Boeing rose +0.8% after the company reported a much smaller than expected loss in its core quarterly results. Coca-Cola dropped -3.3% after reporting that revenue missed estimates and cut its forecast. Apple Inc rose +6.6% after selling more iPhones than expected in the third quarter and gave an upbeat current quarter forecast. After the bell, Facebook posted quarterly results that sent its stock +6% higher.

 

Asian stocks fluctuated as investors digested the Federal Reserve’s latest policy decision while the stronger yen drove Tokyo shares lower ahead of results from a Bank of Japan meeting. The S&P/ASX 200 (+0.30%) gained, but the Hang Seng (-0.20%) and the Nikkei 225 (-1.13%) both retreated. Fujifilm Holdings Corp slumped -9.9% after posting first quarter profit that missed analyst expectations. Mitsubishi UFJ Morgan Stanley Securities Co said the company’s profits and margins in one of its businesses were negatively impacted by the yen’s strength. Alps Electric Co surged +11% after reporting first quarter profit beat analyst estimates. Advantest Corp jumped +9.4% after boosting its full year profit forecast.