Morning Spread

Morning Spread

Thursday 29th May 2014
IndexLevelChg (%)
UK Market6866.31+0.22
Dow Indust Avg16633.18-0.25
S&P 5001909.78-0.11
Nasdaq Composite4225.08-0.28
Nikkei 22514681.72+0.07
Hang Seng23010.14-0.30
IndexLevelChg (%)
Nymex 1m102.81+0.09
Gold Spot1252.96-0.41
GBP/USD1.6738-0.18
GBP/EUR1.2290-0.02
EUR/USD1.3618+0.20
USD/JPY

European stocks were mixed this morning as investors awaited data on US jobless claims and economic growth. The ESTX 50 (-0.25%), CAC 40 (-0.28%) and the DAX (-0.14%) all posted losses in early trading, while the UK Markets (+0.35%) were up. UbiSoft Entertainment SA climbed +2.5% after saying its Watch dogs game broke the company’s record for first day sales. Kingfisher Plc dropped -4.6% after posting first quarter profit that missed analysts’ estimates. Tate & Lyle Plc declined -1.3% after posting annual profit that trailed projections. IMI Plc added +1% as UBS AG recommended buying the engineering company’s shares. Aggreko Plc fell -3% after naming a new CEO.

 

US stocks fell as losses among retailers overshadowed gains in phone shares and utilities before a report today that may show the economy contracted in the first quarter. The Dow Jones Industrial Average (-0.25%), S&P 500 (-0.11%) and the Nasdaq Composite (-0.28%) all declined. Dollar General declined -3% as Deutsche Bank AG lowered the stock’s rating to “hold” from “buy”. Lowe’s fell -2.2% after Canaccord Genuity Corp analysts told clients to sell shares of the company. Toll Brothers climbed +2.1% as it continued to raise prices and boost sales in the costlier New York and California markets. Twitter jumped +11% after Nomura raised its rating on the shares to “buy” from “neutral”. 3D Systems Corp declined -11% after saying it will sell 5.95 million new shares for $317 million. Stryker Corp climbed +2.8% after a Financial Times report that the company is preparing a takeover offer for Smith & Nephew Plc.

 

Asian stocks rose as phone and electronic companies gains. The Hang Seng (-0.38%) and the S&P/ASX 200 (-0.14%) both declined, while the Nikkei (+0.07%) was slightly up. Singpaore Telecommunications Ltd climbed +1.6% after agreeing to sell part of its stake in Singapore Post Ltd to Alibaba Group Holding Ltd. Singapore Post jumped +9.7% to a record. Samsung Electronics Co added +1.9% in Seoul after unveiling a prototype health monitoring wristband. BHP Billiton Ltd dropped -1.3% in Sydney as copper futures declined. Rio Tinto Group slipped -2.2%. Toyota Motor Corp gained +0.9% even as the yen strengthened. Nippon Suisan Kaisha Ltd jumped +10% after SMBC Nikko raised its rating to “outperform” from “neutral”, while also increasing its target price to 370 yen from 240 yen. Credit Saison Co lost -1.4% after Credit Suisse Group AG cut its target price for the company.