Morning Spread

Morning Spread

Monday 30th June 2014
IndexLevelChg (%)
UK Market6762.96+0.08
Dow Indust Avg16851.84+0.03
S&P 5001960.96+0.19
Nasdaq Composite4397.93+0.43
Nikkei 22515162.10+0.44
Hang Seng23190.72-0.13
IndexLevelChg (%)
Nymex 1m105.22-0.49
Gold Spot1313.83-0.18
GBP/USD1.7027+0.05
GBP/EUR1.2470-0.05
EUR/USD1.3654+0.04
USD/JPY0.00987-0.06

European stocks advanced as investors awaited data on US home sales. The ESTX 50 (+0.34%), CAC 40 (+0.11%), Dax (+0.49%) and UK markets (+0.14%) all posted gains in early trading. Royal Philips NV climbed +3% after saying it will merge its LED-component and automotive-lighting units into a €1.4 billion standalone company. Anglo American Plc gained +1.2% after the Sunday Times reported that the company will sell mines in South Africa as part of plans to divest assets valued at as much as $4 billion. Lundbeck declined -5.6% after saying further development of the experiment stroke drug desmoteplase is under consideration after it failed in a late-stage study.  

 

US stocks rose as equities reversed losses in the final hour of trading amid Russell Investments’ annual revisions to its benchmark indexes. The Dow Jones Industrial Average (+0.03%), S&P 500 (+0.19%) and the Nasdaq Composite (+0.43%) all advanced. Nike Inc added +1.1% after posting profit that beat analysts’ estimates. DuPont fell -3.3% after trimming its profit estimate as farmers switched to soybeans. Dollar General Corp sank -7.3% after the company’s chief executive said he would retire. Keurig Green Mountain Inc added +4.1% after being raised to “buy” from “hold” by Argus Research Corp. Family Dollar Stores Inc slid -1.7%.

 

Asian stocks were mixed as technology shares gained. The Nikkei 225 (+0.44%) was up, while the S&P/ASX 200 (-0.91%) and the Hang Seng (-0.20%) both declined. Inotera Memories Inc surged +5.4% to lead gains in the information technology sector. China Telecom Corp rose +2.1% in Hong Kong after being approved for a mixed fourth-generation network trial. Nitori Holdings Co surged +4.7% in Tokyo after reporting quarterly profit that beat estimates. China Avic Electronics Co led gains for industrial companies, surging +4.3% to extend a rally to 21% since the start of April.