Morning Spread

Morning Spread

Thursday 30th June 2016
IndexLevelChg (%)
UK Market6356.76-0.05
Dow Indust Avg17694.68+1.64
S&P 5002070.77+1.70
Nasdaq Composite4779.25+1.86
Nikkei 22515575.92+0.06
Hang Seng20794.37+1.75
IndexLevelChg (%)
Nymex 1m49.35-1.06
Gold Spot1318.75-0.02
GBP/USD1.3477-0.04
GBP/EUR1.2123-0.13
EUR/USD1.1117+0.18
USD/JPY102.84-0.11

European shares were mixed as investors assessed gains after a two day rally that helped the regions equities recover about half of their post-Brexit losses. The ESTX 50 (-0.01%) was flat, while the UK markets (+0.46%) and the CAC 40 (+0.13%) both gained and the Dax (-0.24%) declined. Investors will continue to look today for any indications of the next steps from the UK and EU on the path to separation, with policy action that could help reassure markets also in focus. Bank of England Governor Mark Carney addresses members of the press and finance industry in London in a bid to assuage post-Brexit concerns. Deutsche Bank AG fell -2.9% after failing annual stress tests conducted by the Federal Reserve. Banco Santander SA, which also fell short of the Fed’s requirements, slipped -1.4%.

US stocks gained as investors continued to scour for bargains and digest the fallout from Britain’s stunning vote to leave the European Union. The Dow Jones Industrial Average (+1.64%), S&P 500 (+1.70%) and the Nasdaq Composite (+1.86%) all advanced. Airline stocks shrugged off rising oil prices and a terrorist attack at Istanbul’s main international airport that killed 41 people, with a Bloomberg index of US carriers seeing its strongest back to back climb since November 2014. Southwest Airlines Co and Delta Air Lines Inc added at least +3.9%, while United Continental Holdings Inc rose +4.2%. Merck & Co and Pfizer Inc rose more than +1.7% to help continue the climb in healthcare. Biogen Inc added +4.6%.

Asian stocks climbed for second day to track a global rebound, as anxiety over the economic fallout from the UK leaving the European Union diminished amid speculation central banks will support financial markets. The Nikkei 225 (+0.06%), Hang Seng (+1.75%) and the S&P/ASX 200 (+1.77%) all advanced. Sony Corp rose +0.9% after Mitsubishi UFJ Morgan Stanley Securities Co said restructuring in Sony’s television and smartphone business is on track and company is entering its next growth phase. Softbank Group Corp fell -0.3% after people familiar with the matter said US regulators are examining the mobile network operator over allegations about Nikesh Arora’s activities before he resigned as president last week.