Morning Spread

Morning Spread

Wednesday 30th July 2014
IndexLevelChg (%)
UK Market6810.39+0.04
Dow Indust Avg16912.11-0.42
S&P 5001969.95-0.45
Nasdaq Composite4442.70-0.05
Nikkei 22515646.23+0.18
Hang Seng24732.21+0.37
IndexLevelChg (%)
Nymex 1m101.19+0.22
Gold Spot1297.80-0.09
GBP/USD1.6937+0.01
GBP/EUR1.2638+0.06
EUR/USD1.3401-0.08
USD/JPY102.23-0.09

European stocks were little changed as investors weighed corporate and as the US joined Europe in imposing new sanctions on Russia. The ESTX 50 (+0.06%), UK Markets (+0.05%), CAC 40 (-0.15%) and the Dax (+0.08%) all posted small changes in early trading. Schneider Electric SE declined -2.7% after first half adjusted earnings missed analysts’ estimates. Airbus Group NV climbed +3.6% after posting a 10% increase in first half earnings. Banco Bilbao Vizcaya Argentaria SA added +0.8% after posting second quarter net income that beat analysts’ estimates. Antofagasta Plc retreated -2.9% after saying its cash costs climbed during the second quarter. Segro Plc lost -1% after buying out its partner in a property joint venture. Barclays Plc added +3.2% after the bank reported a return to profit in the second quarter.

 

US stocks fell as President Obama announced new sanctions against Russia and warned its actions in Ukraine are setting back decades of progress. The Dow Jones Industrial Average (-0.42%), S&P 500 (-0.45%) and the Nasdaq Composite (-0.05%) all retreated. United Parcel Service Inc slid -3.7% after cutting its full year forecast. Windstream Holdings Inc surged +12% on plans to spin off assets into a publicly traded real estate investment trust. Frontier Communications Corp climbed +14% and CenturyLink Inc rallied +5.8%. Twitter Inc soared +33% after the market’s close as second quarter revenue beat estimates. Masco climbed +7.1% after reporting second quarter profit that beat analysts’ projections. Merck added +1.1% after reporting net income more than doubled to $2 billion as the company cut costs.

 

Asian stocks rose before the Federal Reserve updates markets on monetary policy as the US and EU strengthen sanctions against Russia. The Nikkei 225 (+0.18%), Hang Seng (+0.40%) and the S&P/ASX 200 (+0.62%) all advanced. Honda Motor Co climbed +3.1% in Tokyo after raising its profit forecast to the highest in seven years. Oversea-Chinese Banking Corp gained +1.7% as it prepares to take Hong Kong’s Wing Hang Bank Ltd private after shareholders accepted its $5 billion takeover offer. Shinsei Bank Ltd jumped +8.2% after reporting a 56% increase in quarterly profit to 20 billion yen, beating the average estimate. Hyundai Heavy Industries Co tumbled -9.5% after South Korea’s biggest shipbuilder reported a wider than expected second quarter loss.