Morning Spread

Morning Spread

Wednesday 29th October 2014
IndexLevelChg (%)
UK Market6449.81+0.74
Dow Indust Avg17005.75+1.12
S&P 5001985.05+1.19
Nasdaq Composite4564.29+1.75
Nikkei 22515553.91+1.46
Hang Seng23819.87+1.27
IndexLevelChg (%)
Nymex 1m82.24+1.01
Gold Spot1228.30-0.02
GBP/USD1.6115+0.15
GBP/EUR1.2651-0.14
EUR/USD1.2738+0.01
USD/JPY108.09-0.03

European stocks rose as investors weighed company earnings and awaited the Federal Reserve’s monetary policy decision. The ESTX 50 (+0.36%), CAC 40 (+0.27%), Dax (+0.78%) and the UK markets (+0.65%) all posted gains in early trading. Total SA gained +2% after posting third quarter profit that exceeds analysts’ estimates. Deutsche Bank AG lost -1.2% after swinging to a loss in the third quarter. Air-France-KLM Group slid -1.6% after quarterly profit fell. STMicroelectronics NV declined -6.3% after forecasting a drop in fourth quarter revenue. Banco Bilbao Vizcaya Argentina SA declined -2% after posting third quarter income that missed analysts’ forecasts. Anglo American climbed +1.5% after The Times reported that the company maybe a takeover target. Tui Travel Plc rose +3.5% after saying shareholders approved its planned merger with TUI AG. Next Plc lost -2.2% after cutting its full year forecasts.

 

US stocks rallied after corporate results topped estimates and consumer confidence surged as Federal Reserve officials start a two day meeting. The Dow Jones Industrial Average (+1.12%), S&P 500 (+1.19%) and the Nasdaq Composite (+1.75%) all advanced. Parker-Hannifin Corp jumped +4.9% after raising the low end of its profit estimate. Amgen Inc rose +6.1% after raising its 2014 forecast. Twitter Inc sank -9.8% after reporting another quarter of decelerating growth. Yahoo! Inc surged +2.6% for a ninth straight gain, the longest rally since 2006. T-Mobile US Inc added +3.1% after boosting its estimate for subscriber acquisitions. Madison Square Garden Co jumped +11% after Bloomberg News reported it’s considering splitting the company in two.

 

Asian stocks rose after Japanese industrial production jumped the most since January and several companies posted higher profit. The Hang Seng (+1.27%) and the Nikkei 225 (+1.46%) both gained, while the S&P/ASX 200 (-0.09%) declined. Ping An climbed +2.9% in Hong Kong after saying profit jumped 90% in the third quarter. Nomura jumped +4.4% in Tokyo after announcing a share buyback and quarterly earnings beat estimates. Omron Corp soared +7.6% after increasing its profit forecast and dividend and said it will repurchase shares. Koito Manufacturing Co surged +8.5% after raising its profit forecast. Hitachi Construction Machinery Co added +3.9% after its first half operating profit exceeded analysts’ estimates.