Morning Spread

Morning Spread

Monday 5th October 2015
IndexLevelChg (%)
UK Market6249.35+1.95
Dow Indust Avg16472.37+1.23
S&P 5001951.36+1.43
Nasdaq Composite4707.77+1.74
Nikkei 22518005.49+1.58
Hang Seng21854.50+1.62
IndexLevelChg (%)
Nymex 1m46.07+1.16
Gold Spot1135.58-0.28
GBP/USD1.5201-0.11
GBP/EUR1.3483-0.36
EUR/USD1.1274+0.52
USD/JPY120.17-0.21

European shares rose this morning as positive economic data from France lifted the Paris stock market. The ESTX 50 (+2.67%), UK markets (+1.96%), CAC 40 (+2.85%) and the Dax (+2.14%) all posted gains in early trading. Glencore extended its rebound from the recent sell-off, rising around +10% on Monday after a surge in its Hong Kong listed shares. The company said it knew of no reason for the swings. Volkswagen fell around -5% as credit default swaps on VW jumped, another effect on the company’s admission on diesel emissions tests in the United States. ArcelorMittal rose +5% after Citigroup raised its rating on the stock to “buy” from “sell”.

 

US stocks gained as worries about the economy after a disappointing jobs report gave way to a robust rally in energy and materials stocks. The Dow Jones Industrial Average (+1.23%), S&P 500 (+1.43%) and the Nasdaq Composite (+1.74%) all advanced. Nonfarm payrolls rose by 142,000, far below the 203,000 economists has expected, and August and July figures were revised down. But the jobless rate held at 5.1%. Odds of a December rate hike fell to little over 27% from 44% before the report. Chevron rose +4.1% and ConocoPhillips jumped +2.12%. Alcoa jumped +2.81%.

 

Asian shares rose after a weaker than expected US jobs report reduced the case for the Federal Reserve to raise interest rates. The Nikkei 225 (+1.58%), Hang Seng (+1.62%) and the S&P/ASX 200 (+1.95%) all increased. Energy shares led the advance after a report signalled US crude output cuts, sending shares of Japan Petroleum Exploration Co up +4.6%. Kyoei Steel Ltd advanced +5.3% after Credit Suisse Group AG raised its operating profit estimate on the company and said infrastructure related steel companies are attractive amid concern about the global economy.