Morning Spread

Morning Spread

Friday 4th March 2016
IndexLevelChg (%)
UK Market6160.93+0.50
Dow Indust Avg16943.90+0.26
S&P 5001993.40+0.35
Nasdaq Composite4707.42+0.09
Nikkei 22517014.78+0.32
Hang Seng20176.70+1.18
IndexLevelChg (%)
Nymex 1m34.48-0.26
Gold Spot1272.53+0.66
GBP/USD1.4163-0.14
GBP/EUR1.2913-0.08
EUR/USD1.0969+0.21
USD/JPY113.73-0.20

European shares rose this morning, lifted by solid results from several companies which enabled European stocks to regain their upwards momentum. The ESTX 50 (+0.05%), UK markets (+0.45%), CAC 40 (+0.04%) and the Dax (+0.07%) all posted gains in early trading. WPP advanced +2.4% as it reported a solid start to 2016 after account wins and strong demand across the board helped it end 2015 with its best growth of the year. Gemalto rose by more than +10% after reporting a rise in annual profits. Accor SA rose +1.5% after a spokeswoman said the company isn’t in talks to buy Carlson Rezidor Hotel Group. Andritz AG added +3.2% after announcing better than estimated fourth quarter sales and profit.

US stocks gained, adding momentum to a recent recovery as the energy and financial sectors emerged into positive territory for the year. The Dow Jones Industrial Average (+0.26%), S&P 500 (+0.35%) and the Nasdaq Composite (+0.09%) all advanced. The energy sector bucked weakness in oil futures, led by a +26% jump by shares of Chesapeake Energy Corp, an +18% gain in Southwestern Energy Co and a 14% rise in Ensco Plc. Herbalife fell -7.02% after saying it overstated growth in the number of new members due to a database error. Kroger dropped -7.01% after quarterly sales missed estimates. Costco Wholesale Corp lost -0.78% after reporting softer than expected quarterly profit and revenue.

Asian stocks climbed ahead of a meeting of Chinese leaders and a monthly US jobs report. BHP Billiton Ltd rose +2.4% in Sydney, supported by rising raw materials prices. The Hang Seng (+1.18%), Nikkei 225 (+0.32%) and the S&P/ASX 200 (+0.18%) all increased. Inpex jumped +6.8% as crude prices extended a third weekly gain. Cnooc Ltd climbed +3.9% to a four month high in Hong Kong. Samsonite International SA advanced +1.3% in Hong Kong after agreeing to buy Tumi Holdings Inc for about $1.8 billion in its biggest acquisition. Sharp Corp surged +9.4% after it was reported they are aiming to sign a $6 billion takeover agreement with Foxconn Technology Group as early as Monday.