Morning Spread

Morning Spread

Wednesday 2nd July 2014
IndexLevelChg (%)
UK Market6806.94+0.06
Dow Indust Avg16956.07+0.77
S&P 5001973.32+0.67
Nasdaq Composite4458.65+1.14
Nikkei 22515369.97+0.29
Hang Seng23549.62+1.55
IndexLevelChg (%)
Nymex 1m105.38+0.04
Gold Spot1325.98-0.03
GBP/USD1.71650.00
GBP/EUR1.2570+0.26
EUR/USD1.3656-0.26
USD/JPY0.00985-0.05

European stocks advanced as investors awaited reports on US jobs and factory orders. The ESTX 50 (+0.11%), and the Dax (+0.26%) gained, while the CAC 40 (-0.02%) and UK markets were little changed. Royal Vopak NV added +1.5% after saying it will divest about 15 terminals in a plan to boost free cash flow. Chr Hansen Holding A/S increased +3% after posting third quarter profit that beat analysts’ predictions. Orange SA dropped -3.2% after saying it cannot participate in a consolidation of the French telecommunications market. BMW AG climbed +1.4% after it was reported that the company will invest about $1 billion in a new factory in San Luis Potosi, Mexico. Carillion Plc added +1.7% after saying first half profitability improved. Mothercare Plc jumped +9.8% after rejecting two merger bids from Destination Maternity Corp.

 

US stocks rose as gauges of factory output in major economies signalled expansion. The Dow Jones Industrial Average (+0.77%), S&P 500 (+0.67%) and the Nasdaq composite (+1.14%) all advanced. Netflix gained +7.4% after Goldman Sachs Group Inc boosted its recommendation on the company to “buy” from “neutral”, citing the potential for global subscription growth. Twitter Inc rose +2.6% after naming former Goldman Sachs banker Anthony Noto its new chief financial officer. GoPro Inc jumped +20% amid optimism that revenue tied to users’ shared videos will fuel profit growth. GM rose +3.6% after reporting a gaine of 1% in sales, beating the average analyst estimate for a 6.3% decline. International Business Machines Corp climbed +2.8% leading a rally among technology stocks.

 

Asian stocks rose after reports showing manufacturing expansion in the world’s two biggest economies sent US equity gauges to records. The Nikkei 225 (+0.29%), Hang Seng (+1.55%) and the S&P/ASX 200 (+1.48%) all rallied. Galaxy Entertainment rose +4.8% after Merrill Lynch said Macau will return to gross gaming revenue growth in the second half, with a 2% gain in July expected from a year earlier. Revenue dropped in June for the first time since 2009 amid competition from the World Cup for gamblers cash. Sands China Ltd gained +3%. Ryohin Keikaku jumped +4.5% after reporting revenue for the quarter through May surged 21% from a year earlier. Sumco Corp fell -3.9% after its rating was cut to “reduce” from “neutral” at Nomura Holdings Inc.