Morning Spread

Morning Spread

Monday 30th March 2015
IndexLevelChg (%)
UK Market6906.37+0.75
Dow Indust Avg17712.66+0.19
S&P 5002061.02+0.24
Nasdaq Composite4891.22+0.57
Nikkei 22519411.40+0.65
Hang Seng24855.12+1.51
IndexLevelChg (%)
Nymex 1m48.45-0.86
Gold Spot1189.16-0.80
GBP/USD1.4861+0.12
GBP/EUR1.3674+0.09
EUR/USD1.0867-0.20
USD/JPY119.74-0.50

European stocks rose this morning amid optimism central banks will continue to support global growth. The ESTX 50 (+1.28%), UK markets (+0.71%), CAC 40 (+1.18%) and the Dax (+1.46%) all posted gains in early trading. Novartis AG climbed +1.3% after saying it entered into a multi-year research and development collaboration with Aduro Biotech Inc and also bought a stake in the company. Roche Holding AG also gained +1.3%. Dufry AG rose +4.5% after agreeing to buy a majority stake in World Duty Free SpA for €1.3 billion to expand globally. Holcim Ltd added +0.3% and Lafarge SA lost -1.9% after it was reported that Holcim’s second biggest shareholder plans to vote against the company’s merger with Lafarge, even after they agreed last week on new terms and management changes to placate investors. Infineon, STMicroelectronics, ARM and ASML were all up between +1.5% and 2.5% this morning.  

 

US stocks rose on Friday after late news of merger talks in the semiconductor space boosted the technology sector. The Dow Jones Industrial Average (+0.19%), S&P 500 (+0.24%) and the Nasdaq Composite (+0.57%) all advanced. Altera Corp surged +28% after the Wall Street Journal said Intel Corp was in talks to acquire it. Semiconductor makers are turning to acquisitions as they seek new avenues of growth. NXP Semiconductor agree agreed earlier this month to acquire Freescale Semiconductor Ltd for about $11.8 billion. Other companies posting gains of more than +5% were Skyworks Solutions Inc, Xilinx Inc and Intel. Retail companies climbed after the fourth quarter GDP report showed strengthening consumer spending, and a separate report revealed consumer sentiment in this year’s first quarter was the strongest since 2004. Target Corp, Home Depot Inc and Bed Bath & Beyond Inc rose more than +1.3%.

 

Asian stock markets rose on hopes for more Chinese infrastructure spending and policy stimulus, while oil prices suffered further from excess supply. The Nikkei 225 (+0.65%) and the Hang Seng (+1.51%) both advanced, while the S&P/ASX 200 (-1.25%) declined. Century Tokyo Leasing Corp jumped +5.9% after Nomura Holdings Inc raised its target price on the shares. Kyocrea Corp rose +1.4% after a report Oasis Management Co is buying the company’s stock. JX Holdings Inc and Inpex Corp fell at least -2.5% as crude declined for a second day. Japan Cash Machine Co slumped -2.5% after it was reported that lawmakers will delay submitting a bill to legalise casinos. Poly Real Estate Group Co and Tianjin Realty Development (Group) Co both rose by the 10% daily limit on speculation the government will ease real estate curbs to bolster the economy.