Morning Spread

Morning Spread

Friday 29th April 2016
IndexLevelChg (%)
UK Market6279.09-0.69
Dow Indust Avg17830.76-1.17
S&P 5002075.81-0.92
Nasdaq Composite4805.29-1.19
Nikkei 22516666.05-3.61
Hang Seng21067.05-1.50
IndexLevelChg (%)
Nymex 1m46.45+0.91
Gold Spot1275.13+0.70
GBP/USD1.4593+0.03
GBP/EUR1.2819-0.44
EUR/USD1.1384+0.41
USD/JPY107.06+1.20

European stocks slid as investors assessed the biggest monthly advance since November and losses in US equities weighed on sentiment. The ESTX 50 (-1.31%), CAC 40 (-1.36%), Dax (-0.98%) and the UK markets (-0.68%) all posted losses in early trading. IAG SA lost -3.5% after saying last month’s Brussels attacks will affect second quarter revenue. Sanofi fell -2.7% after its sales missed projections. Royal Bank of Scotland Group Plc fell after its net losses widened. Linde rose +2% after its revenue and operating profit in the first three months of the year beat estimates. 

 

US stocks dropped as a mid-session recovery led by Facebook’ earnings coupled with news of promising M&A deals faded and the Bank of Japan’s surprising call to cap monetary stimulus continued to rattle investors. The Dow Jones Industrial Average (-1.17%), S&P 500 (-0.92%) and the Nasdaq Composite (-1.19%) all retreated. St Jude Medical soared +26.3% after Abbott Laboratories said it agreed to buy the company for $25 billion. Abbot was down -7%. DreamWorks Animation was up +24.2%, after Comcast said it will buy the company for $3.8 billion. Comcast was up +0.8%. Apple declined -3% after Carl Icahn said he no longer has a position.

 

Asian stocks fell after the Bank of Japan quashed expectations for further stimulus and investors scrutinised earnings from several companies. The Hang Seng (-1.50%) and the Nikkei 225 (-3.61%) both dropped, while the S&P/ASX 200 (+0.51%) increased. PetroChina sank -3.6% in Hong Kong after reporting a 13.8 billion yuan loss for the first quarter, its first since it started trading publicly in 2000. Its state owned peer, China Petroleum & Chemical Corp lost -1.3%. Cnooc Ltd dropped -2.3% after reporting a decline in revenue.