Morning Spread

Morning Spread

Wednesday 28th October 2015
IndexLevelChg (%)
UK Market6393.80+0.45
Dow Indust Avg17581.43-0.24
S&P 5002065.89-0.26
Nasdaq Composite5030.15-0.09
Nikkei 22518903.02+0.67
Hang Seng22956.57-0.80
IndexLevelChg (%)
Nymex 1m43.53+0.76
Gold Spot1172.12+0.45
GBP/USD1.5305-0.01
GBP/EUR1.3847-0.13
EUR/USD1.1053+0.14
USD/JPY120.35+0.02

European shares rose this morning, helped by a fresh batch of company earnings reports ahead of a Federal Reserve policy decision later today. The ESTX 50 (+0.91%), UK markets (+0.28%), CAC 40 (+0.74%) and the Dax (+0.78%) all posted gains in early trading. Heineken rose +3.9% after reporting strong sales in Europe and the Americas that came in above expectations. UCB rose +3.7% after its own well received results. Volkswagen rose +3.2% after announcing its first quarterly loss in at least 15 years. BT Group Plc gained +4.6% after the UK’s competition authority gave provisional approval to the company’s bid to acquire EE Ltd. Lloyds Banking Group Plc fell -4.5% after reporting a bigger profit drop than analysts projected.

 

US stocks dropped on uncertainty over the US rate outlook and disappointing results from several companies. The Dow Jones Industrial Average (-0.24%), S&P 500 (-0.26%) and the Nasdaq Composite (-0.09%) all decreased. Apple rose +2.8% in after hours trading after reporting higher than expected earnings and revenue. Twitter dropped -11% after the bell after reporting results. Twitter’s stock ended the regular session up +1.5%. Ford dropped -5% after quarterly results missed expectations. JetBlue Airways Corp fell -3.2% after it said it will make less money per mile in October than it did a year ago. Alibaba rose +4% after reporting better than expected revenue.

 

Asian stocks followed US shares lower as energy companies led declines and investors awaited a Federal Reserve decision on monetary policy. The Hang Seng (-0.80%) and the S&P/ASX 200 (-0.20%) both retreated, while the Nikkei 225 (+0.67%) rose. Santos Ltd dropped -4.4% in Sydney as crude oil traded near a two month low. Tsingtao Brewery Co dropped -4.6% in Hong Kong as its earnings decline accelerated. Hitachi Metals Ltd tumbled -12% in Tokyo after posting quarterly profit that fell short of expectations. Tokyo Electron Ltd jumped +6.6% after increasing its full year profit forecast and dividend payout plan.