Morning Spread

Morning Spread

Monday 29th February 2016
IndexLevelChg (%)
UK Market6041.35-0.90
Dow Indust Avg16639.97-0.34
S&P 5001948.05-0.19
Nasdaq Composite4590.47+0.18
Nikkei 22519026.76-1.00
Hang Seng19111.93-1.30
IndexLevelChg (%)
Nymex 1m32.43-1.07
Gold Spot1234.38+0.96
GBP/USD1.3866+0.03
GBP/EUR1.2708+0.19
EUR/USD1.0913-0.19
USD/JPY112.92+0.95

European stocks declined this morning on concern over central bank stimulus. The ESTX 50 (-1.46%), CAC 40 (-1.33%), Dax (-1.84%) and the UK markets (-0.96%) all posted losses in early trading. Roche Holding AG fell -1.5% after saying studies for an asthma treatment didn’t come to conclusive results. Ocado Group Plc lost -4.9% while Wm Morrison Supermarkets Plc rallied +5.4% after Morrison entered a pact with Amazon.com Inc. PostNL NV added +5.5% after confirming its 2016 outlook. Randgold Resources Ltd, Glencore Plc and Anglo American Plc added at least +2.9%.

US stocks ended lower on Friday as concerns about the timing of future interest hikes offset gains in materials and energy stocks. The Dow Jones Industrial Average (-0.34%) and the S&P 500 (-0.19%) both increased, while the Nasdaq Composite (+0.18%) increased. In a break from a trend seen for much of this year, energy shares clung to gains even after a rally in crude oil prices faded, with ConocoPhillips up +3.21%. J.C.Penney jumped +14.71% after reporting better than expected revenue. Baidu rose +9.87% after company posted quarterly results that impressed Wall Street.

Asian stocks fell as Chinese shares slumped and a stronger yen weighed on Japanese shares. The Hang Seng (-1.30%) and the Nikkei 225 (-1.00%) both declined, while the S&P/ASX 200 (+0.02%) was flat. Nissan Motor Co surged +5.5% in Tokyo after announcing plans to buy back 400 billion yen worth of shares. Nintendo Co fell -1% after halving its outlook for profit this fiscal year. Sapporo Holdings Ltd slid -5.9% after JPMorgan Chase & Co downgraded the company. China Life Insurance Co closed at it lowest level in two weeks with a -3.3% decline. Industrial & Commercial Bank of China Ltd extended its loss this year to -12%.