Morning Spread

Morning Spread

Friday 5th September 2014
IndexLevelChg (%)
UK Market6863.21-0.21
Dow Indust Avg17069.58-0.05
S&P 5001997.65-0.15
Nasdaq Composite4562.29-0.22
Nikkei 22515668.68-0.05
Hang Seng25240.15-0.23
IndexLevelChg (%)
Nymex 1m94.75+0.32
Gold Spot1264.31+0.19
GBP/USD1.6316+0.22
GBP/EUR1.2601-0.24
EUR/USD1.2949+0.02
USD/JPY105.25+0.05

European stocks retreated before US jobs data and cease fire talks in Ukraine. The ESTX 50 (-0.16%), CAC 40 (-0.13%) and UK markets (-0.17%) all posted losses in early trading, while the Dax (+0.17%) increased. London Stock Exchange Group Plc slipped -2.5% as Borse Dubai Ltd prepares to sell a stake in the exchange. BASF SE slid -1.1% after a US court ordered it to face accusations it fraudulently hid evidence that its talc products contained asbestos. Foxtons Group Plc fell -2.4% after it was reported that shareholder was prepared to sell a stake in the real estate broker.

 

US stocks retreated as a decline in energy shares sapped an earlier rally following the ECB’s new stimulus measures. The Dow Jones Industrial Average (-0.05%), S&P 500 (-0.15%) and the Nasdaq Composite (-0.22%) all declined. Shares of PVH Corp rose +9.6% after quarterly profit beat expectations, bolstered by sales of Tommy Hilfiger branded clothes. US listed shares of BP Plc fell -5.9% after a US district judge ruled the company was grossly negligent in a massive oil spill in the Gulf of Mexico in 2010. Chevron Corp and Exxon Mobil Corp each lost -0.8% as crude dropped. Fastenal Co rose +4% after reporting a sales increase.

 

Asian stocks fell as material and energy companies slid. The S&P/ASX 200 (-0.58%), Hang Seng (-0.23%) and the Nikkei 225 (-0.05%) all retreated. Newcrest Mining Ltd lost -3.2% after the price of bullion fell. Fortescue Metals Group Ltd sank -3.2% after a gauge of prices for iron ore in China dropped. Inpex Corp fell -1.9% in Tokyo as crude futures headed for the sixth weekly decline in seven weeks. Sekisui House Ltd rose +2.2% after reporting first half net income increased. China Hongqiao Group Ltd tumbled -6.6% in Hong Kong after saying it plans to sell new shares to its controlling stockholder.