Morning Spread

Morning Spread

Monday 5th January 2015
IndexLevelChg (%)
UK Market6512.20-0.54
Dow Indust Avg17832.99+0.06
S&P 5002058.20-0.03
Nasdaq Composite4726.81-0.20
Nikkei 22517408.71-0.24
Hang Seng23721.32-0.57
IndexLevelChg (%)
Nymex 1m51.85-1.59
Gold Spot1192.16+0.25
GBP/USD1.5279+0.32
GBP/EUR1.2811+0.31
EUR/USD1.1928-0.62
USD/JPY120.35+0.12

European stocks declined, erasing earlier gains as falling oil prices and concern over Greece possibly leaving the EU offset speculation of increased ECB stimulus. The ESTX 50 (-0.51%), UK markets (-0.40%), CAC 40 (-0.25%) and the Dax (-0.14%) all posted losses in early trading. Royal Dutch Shell Plc and BP Plc dropped at least -1% as the price of crude fell. Marks & Spencer Group Plc lost -1.7% after Societe Generale SA lowered its rating on the company. EasyJet Plc and International Consolidated Airlines Group SA both rose more than +2%. Ryanair rose +3%, hitting an all time high after the company said December traffic grew 20%. Luxottica rose +2.7% after it was cited by La Stampa as saying it would benefit from a weaker euro/dollar exchange rate in its fourth quarter results.

 

US stocks closed little changed in the first trading day of 2015 as economic data eroded early gains. The S&P 500 (-0.03%) and the Nasdaq Composite (-0.20%) both declined, while the Dow Jones Industrial Average (+0.06%) advanced. In a sign of tepid economic conditions, construction spending unexpectedly fell 0.3% in November, while the pace of growth in the US manufacturing sector slipped to a six month low in December. Energy shares gained, alternating between gains and losses alongside choppy trading in crude oil. Exxon Mobil rose +0.4% and Kinder Morgan gained +1.2%. General Motors lost -0.2% after announcing three new vehicles.

 

Asian stocks fell as phones companies led the declines. The Nikkei 225 (-0.24%) and the Hang Seng (-0.57%) both declined, while the S&P/ASX 200 (+0.26%) increased. China Mobile Ltd fell -1.4% in Hong Kong to pace losses among phone companies. AirAsia Bhd slipped -4.4% in Kuala Lumpur after Indonesian authorities said over the weekend that the carrier wasn’t authorised to fly to Singapore on the day its passenger jet crashed. Hong Kong Exchanges & Clearing Ltd jumped +2.5% after a report Chinese Premier Ki Keqiang said a stock link with Shenzhan should be established.