Morning Spread

Morning Spread

Friday 30th January 2015
IndexLevelChg (%)
UK Market6780.23-0.45
Dow Indust Avg17416.85+1.31
S&P 5002021.25+0.95
Nasdaq Composite4683.41+0.98
Nikkei 22517674.39+0.39
Hang Seng24507.05-0.36
IndexLevelChg (%)
Nymex 1m45.07+1.21
Gold Spot1263.29+0.47
GBP/USD1.5085-0.25
GBP/EUR1.3316+0.02
EUR/USD1.1328+0.21
USD/JPY117.66+0.58

European stocks declined, reversing earlier gains and paring their best start to a year since 1989. The ESTX 50 (-0.14%), CAC 40 (-0.25%), Dax (-0.01%) and UK markets (-0.54%) all posted losses in early trading. Bank of Piraeus jumped +12% after touching an all-time low earlier this week and Alpha Bank gaining +8%. SCA rose +7.9% after posting a bigger than expected rise in core fourth quarter profit despite higher raw material costs and headwinds from a stronger dollar. J Sainsbury and William Morrison Supermarkets Plc fell more than 1.5% after Vince Cable put measures to Parliament that would see supermarket chains face fines of as much as 1% of their UK sales if they treat their suppliers badly. BT Group Plc fell -2.2% after reporting third quarter earnings that were in line with analysts’ estimates.

 

US stocks rallied late to close higher as an upturn in oil prices and a rally in Apple and Boeing shares helped offset some disappointing earnings and lingering questions over US monetary policy. The Dow Jones Industrial Average (+1.31%), S&P 500 (+0.95%) and the Nasdaq Composite (+0.98%) all advanced. Visa Inc rose +4.4% after the market closed when it reported better than expected earnings and a 4 for 1 split of its class A common stock. Harman International shares rose +23.8% after it beat profit and revenue expectations. McDonald’s added +5% after announcing its CEO’s retirement. Alibaba Group fell -8.8% after revenue missed expectations and Qualcomm fell -10.3% after trimming its 2015 outlook. Apple Inc closed up +3.1% and Boeing Co finished +5.8% higher.

 

Asian shares were mixed as a late earnings surge on Wall Street helped counter persistent concerns over global growth. The Nikkei 225 (+0.39%) and the S&P/ASX 200 (+0.34%) both increased, while the Hang Seng (-0.36%) declined. Toshiba Corp gained +2.3% after reporting an 86% jump in net income. Advantest Corp added +9.3% after boosting its profit forecast. NEC Corp tumbled -7.5% as its operating profit missed estimates. SoftBank Corp lost -3.5% after Alibaba Group Holdings Ltd, of which it owns 32%, missed sales estimates. China Life Insurance Co and China Pacific Insurance Co dropped -5% after Great Wisdom said regulators will check insurers’ margin trading businesses. CSR Corp and China CNR Corp both lost -7.9% after Huatai Securities Co said it would stop lending shares of the company for short selling.