Morning Spread

Morning Spread

Wednesday 6th August 2014
IndexLevelChg (%)
UK Market6618.56-0.96
Dow Indust Avg16429.47-0.84
S&P 5001920.21-0.97
Nasdaq Composite4352.84-0.71
Nikkei 22515159.79-1.05
Hang Seng24584.13-0.26
IndexLevelChg (%)
Nymex 1m97.50+0.12
Gold Spot1291.43+0.20
GBP/USD1.6838+0.21
GBP/EUR1.2598-0.19
EUR/USD1.3366-0.02
USD/JPY102.42+0.28

European stocks dropped as a build-up of Russian armed forces along the border with Ukraine escalated tension, and a report showed German factory orders unexpectedly dropped. The ESTX 50 (-0.78%), UK markets (-0.70%), CAC 40 (-0.61%) and the Dax (-0.93%) all posted losses in early trading. Swiss Re AG slipped -2.6% after posting second quarter earnings that fell short of analysts’ estimates. Iliad SA retreated -1.4% after it was reported that T-Mobile US Inc plans to reject the French company’s $15 billion bid to buy a controlling stake. ING Groep NV rose +1% after saying it may repay the state aid it received in 2008 earlier than planned. Lanxess AG advanced +2.9% after posting earnings that exceeded the average analyst projection in a Bloomberg survey.

 

US stocks resumed a selloff as energy shares tumbled and concern increased over escalating tensions in Ukraine. The Dow Jones Industrial Average (-0.84%), S&P 500 (-0.97%) and the Nasdaq Composite (-0.71%) all retreated. Pioneer Natural Resources tumbled -5.6% and Halliburton lost -3.4% after Bloomberg survey suggested that refineries probably operated at 92.8% on August 1st, ahead of a government report later today. Target slipped -4.4% as it struggles to boost US traffic, rescue its botched expansion into Canada and regain shoppers’ trust after hackers stole millions of customers’ data last year. Motorola Solutions Inc decreased -4.2% after reporting second quarter earnings and sales figures that were more than 24% short of analyst forecasts. Delta Air Lines Inc fell -2.8% and United Continental Holdings Inc slid -3.4% during regular trading, after newspaper Vedomosti reported Russia may limit or ban trans-Siberian flights by European Union airlines. Coach Inc surged +4.3% after posting fourth quarter profit that topped analysts’ estimates.

 

Asian stocks fell after US equities dropped to a two month low amid escalating tensions in Ukraine. The Nikkei 225 (-1.05%), Hang Seng (-0.26%) and the S&P/ASX 200 (-0.12%) all declined. SoftBank Corp dropped -3.5% after it was reported that Sprint Corp, controlled by Softbank, ended talks to acquire T-Mobile US Inc. Vard Holdings Ltd plunged -5.1% after saying it received a tax claim from Brazil authorities. Aluminium Corp of China Ltd surged +9.4% in Hong Kong after the government allowed the producer of the light metal to create a rare earth group. China Unicom (Hong Kong) Ltd declined -5.3% in Hong Kong after China International Capital Corp said it expects the company’s quarterly profit is expected to fall 3.7%. Kubota Corp jumped +8.9% after reporting profit rose.