Morning Spread

Morning Spread

Wednesday 4th May 2016
IndexLevelChg (%)
UK Market6151.73-0.55
Dow Indust Avg17750.91-0.78
S&P 5002063.37-0.87
Nasdaq Composite4763.22-1.13
Nikkei 22516147.38-3.11
Hang Seng20525.83-0.73
IndexLevelChg (%)
Nymex 1m43.72+0.16
Gold Spot1282.09-0.34
GBP/USD1.4505+0.41
GBP/EUR1.2628-0.06
EUR/USD1.1486-0.35
USD/JPY106.98-0.63

European stocks fell as the latest batch of earnings reports failed to convince investors of the region’s economic health. The ESTX 50 (-0.55%), CAC 40 (-0.33%), Dax (-0.43%) and the UK markets (-0.70%) all posted losses in early trading. Anheuser-Bush InBev NV slipped -2.6% after posting sales and profit growth that missed analysts’ estimates. Royal Dutch Shell Plc lost -1.2% even as it posted a lower than forecast drop in first quarter profit. Societe Generale SA added +4% after reporting an unexpected increase in earnings. A.P.Moeller-Maersk A/S jumped +5.9% after reporting a smaller decline in first quarter profit than estimated as it stepped up cost cuts at its oil unit. Siemens AG advanced +1% after posting higher than forecast second quarter profit.

 

US stocks fell as weaker than expected manufacturing data in China revived worries about global growth and sent investors scurrying out of the perceived risk of equities. The Dow Jones Industrial Average (-0.78%), S&P 500 (-0.87%) and the Nasdaq Composite (-1.13%) all declined. US light vehicle sales regained momentum last month thanks to cheap credit, low petrol prices and rising consumer confidence, with sales hitting a new monthly record high. However car sales didn’t help car manufacturers with General Motors Co (-1.57%) and Ford Motors Co (-1.40%) both falling. Chesapeake Energy Corp (-11.99%) and Freeport McMoRan Inc (-11.37%) both dropped as the price of crude oil retreated. Pfizer Inc jumped +2.7% after reporting first quarter earnings that beat forecasts.

 

Asian stocks fell led by a rout in commodity shares as crude oil traded below $44 a barrel and concern grew over lacklustre global economic growth. The S&P/ASX 200 (-1.54%), Hang Seng (-0.73%) and the Nikkei 225 (-3.11%) all retreated. BHP Billiton, the world’s largest mining firm, slumped -7.8% in Sydney. The yen climbed after the US treasury put Japan on a new currency monitoring list with four other countries that have large trade surpluses with the United States. The report could make it harder for Japan to stem the yen’s gains. Japanese companies that rely heavily on exports for profits underperformed. Toyota Motor Corp shares fell -3.8% while Nissan Motor Co Ltd tumbled -5% and Honda Motor Co Ltd declined -4%.