Morning Spread

Morning Spread

Friday 29th May 2015
IndexLevelChg (%)
UK Market7028.63-0.17
Dow Indust Avg18126.12-0.20
S&P 5002120.79-0.13
Nasdaq Composite5097.98-0.17
Nikkei 22520563.15+0.06
Hang Seng27424.19-0.11
IndexLevelChg (%)
Nymex 1m58.31+1.09
Gold Spot1188.50+0.01
GBP/USD1.5300+0.01
GBP/EUR1.3953-0.34
EUR/USD1.0966+0.33
USD/JPY123.82+0.01

European stocks retreated amid investor concern that Greece won’t reach a debt agreement with creditors in time to make a repayment to the IMF. The ESTX 50 (-0.94%), UK markets (-0.35%), CAC 40 (-0.95%) and the Dax (-1.10%) all posted losses in early trading. National Bank of Greece SA dropped -5.6%. Syngenta AG climbed +2.2% after previously rejecting an unsolicited $45 billion takeover offer from Monsanto Co, is building up defences in preparation for a possible higher bid from its US rival, according to reports.

 

US stocks declined as mixed messages about Greece’s debt talks kept investor uncertainty high along with a sharp drop in Chinese shares after brokers tightened margin rules. The Dow Jones Industrial Average (-0.20%), S&P 500 (-0.13%) and the Nasdaq Composite (-0.17%) were all negative. Caterpillar fell -2.2% which helped drag down the Dow and S&P 500. GoPro Inc rose +6.6% after GoPro and Google Inc introduced a virtual reality system using 16 cameras and google software. Google shares were flat.

 

Asian stocks climbed as utilities and consumer shares led the gains. The Nikkei 225 (+0.06%), Hang Seng (+0.06%) and the S&P/ASX 200 (+1.12%) all increased. Osaka Titanium Technologies Co surged +9.2% after Credit Suisse Group AG boosted its share price target on the stock. Yahoo Japan Corp jumped +12% after saying it will form an e-commerce alliance with Alibaba Group Holdings Ltd. Inpex Corp added +1.2% after crude advanced amid signs the global supply glut is easing. Evergrande Real Estate Group Ltd tumbled -27% in Hong Kong after cutting the price of a share sale that analysts said will do little to reduce the company’s indebtedness.