Morning Spread

Morning Spread

Monday 29th September 2014
IndexLevelChg (%)
UK Market6636.29-0.20
Dow Indust Avg17113.15+0.99
S&P 5001982.85+0.86
Nasdaq Composite4512.19+1.02
Nikkei 22516310.64+0.50
Hang Seng23229.21-1.90
IndexLevelChg (%)
Nymex 1m92.80-0.79
Gold Spot1219.43+0.09
GBP/USD1.6233+0.10
GBP/EUR1.2803-0.04
EUR/USD1.2679-0.04
USD/JPY109.62-0.30

European stocks were slightly down this morning as investors awaited data on American personal spending and income, as well as pending home sales, to gauge the timing of any Federal Reserve interest rate increases. The ESTX 50 (-0.28%), UK Markets (-0.19%), CAC 40 (-0.22%) and the Dax (-0.09%) all posted small losses in early trading. Balfour Beatty Plc tumbled -22% after forecasting a bigger profit shortfall. UBS AG climbed +1.1% after indicating that profit for July and August already exceeds analyst estimates for the full third quarter. Commerzbank AG slid -3% after it was reported that the bank is seeking to resolve a probe into Iran sanctions violations also faces a US inquiry into whether it broke anti-money laundering laws. RWE AG dropped -2.1% after saying a plan to sell its RWE Dea oil and gas unit to LetterOne Investment group has been delayed as it has yet to be approved by the regulator.

 

US stocks finished higher on Friday, rallying back above a key technical level, but the advance was not enough to offset recent declines. The Dow Jones Industrial Average (+0.99%), S&P 500 (+0.86%) and the Nasdaq Composite (+1.02%) all advanced. Nike Inc jumped +12% for its biggest one day advance since October 2008, after earnings topped expectations, prompting more than a dozen brokers to raise their targets on the stock. Micron Tech jumped +6.7% after reporting better than expected results late Thursday. Universal Health Services Inc fell -2.4% after it agreed to buy Cygnet Health Care Ltd in a deal valued at about $335 million.

 

Most Asian stocks retreated as protests paralyzed parts of Hong Kong. The Hang Seng (-1.90%) and the S&P/ASX 200 (-0.93%) both declined, while the Nikkei 225 (+0.50%) increased. Chow Tai Fook Jewellery Group Ltd fell -4%, pacing losses among Hong Kong retailers. Treasury Wine Estates Ltd sank -8.5% in Sydney after ending takeover talks with private equity suitors. HSBC Holdings Plc lost -1.76% after banks shuttered some branches in Hong Kong following weekend clashes. Sony Corp rallied +3.16% pacing gains among Japanese exporters as the yen weakened.