Morning Spread

Morning Spread

Tuesday 2nd September 2014
IndexLevelChg (%)
UK Market6845.64+0.30
Dow Indust Avg17098.45+0.11
S&P 5002003.37+0.33
Nasdaq Composite4580.27+0.50
Nikkei 22515668.60+1.24
Hang Seng24749.02-0.01
IndexLevelChg (%)
Nymex 1m95.26-0.73
Gold Spot1277.00-0.70
GBP/USD1.6527+0.47
GBP/EUR1.2602-0.35
EUR/USD1.3115-0.12
USD/JPY104.94-0.64

European stocks advanced amid speculation that slower growth will prompt policy makers to accelerate stimulus. The ESTX 50 (+0.65%), UK markets (+0.29%), CAC 40 (+0.46%) and the Dax (+0.90%) all posted gains in early trading. Vallourec SA climbed +3.3% after UBS AG advised investors to buy the stock. Mota-Engil SGPS SA added +1.2% after Portugal’s state owned holding company was said to recommend Mota-Engil’s bid for EGF. Air France-KLM advanced +1.4% after CEO Frederic Gagey told Le Figaro that domestic mid-haul losses will be about €120 million this year, or half what they were in 2012. The Weir Group Plc rose +3.3% after Credit Suisse Group AG advised investors to buy the shares. Redrow climbed +1.2% after reporting a 43% increase in full year revenue. BHP Billiton Plc added +1.4% as Macquarie Group Ltd said the businesses that the mining company plans to spin off will benefit from recovery in commodity prices.

 

Asian stocks outside Japan dropped as South Korean manufacturers declined and shares in Tokyo rallied as the yen weakened before Prime Minister Shinzo Abe announces a new cabinet. The Nikkei 225 (+1.24%) and the S&P/ASX 200 (+0.51%) both increased, while the Hang Seng (-0.06%) declined. Hyundai Motor Co sank -2.8% after reporting lower sales for August. Tianhe Chemicals Group Ltd dropped -4.9% before suspending trading in Hong Kong after Anonymous Analytics rated the Chinese company a strong sell. Samsung Electronics slipped -2.6% after Shinhan Investment Corp said the company’s operating profit will continue to weaken in this quarter amid heightening competition among smartphone makers. Japanese exporters advanced as the yen slid. Nintendo jumped +2.9%. Toyota Motor Corp gained +1.8% and Fanuc Corp climbed +1.7%. Murata Manufacturing Co surged +5.4% in Tokyo after Credit Suisse Group AG raised its price target on the company and maintained its outperform rating.

 

US markets were closed yesterday.