Morning Spread

Morning Spread

Friday 6th June 2014
IndexLevelChg (%)
UK Market6838.67+0.37
Dow Indust Avg16836.11+0.59
S&P 5001940.46+0.65
Nasdaq Composite4296.23+1.05
Nikkei 22515077.24-0.01
Hang Seng22951.00-0.69
IndexLevelChg (%)
Nymex 1m102.42-0.06
Gold Spot1254.75+0.08
GBP/USD1.6804-0.02
GBP/EUR1.2327+0.05
EUR/USD1.3632-0.04
USD/JPY

European stocks rose after the ECB cut interest rates to fight deflation. The ESTX 50 (+0.10%), UK Markets (+0.26%) and the Dax (+0.13%) all posted gains in early trading, while the CAC 40 (-0.02%) was flat. Deutsche Boerse AG climbed +0.3% after it was reported that it is exploring the sale of its business in the US. BNP Paribas SA slipped -0.4% after it was reported that New York banking regulator Benjamin Lawsky has pressed it to dismiss one of its senior executives. Centrica Plc Gained +1.4% after the Daily Mail reported speculation that an international buyer may buy a stake in the UK’s biggest energy supplier before bidding for the whole company. Imagination Technologies Group Plc fell -1.4% after Liberum Capital Ltd downgraded the shares.

 

US equities rose as European Central Bank stimulus boosted optimism in the global economy ahead of today’s jobs report. The Dow Jones Industrial Average (+0.59%), S&P 500 (+0.65%) and the Nasdaq Composite (+1.05%) all advanced. Sprint Corp dropped -4% after it was reported that the company is nearing a price agreement for a potential acquisition of T-Mobile US Inc. T-Mobile fell -2.3%. Ciena Corp surged +18% as earnings beat analyst estimates. Twitter rose +3.% after Pacific Crest rated the shares “outperform”, projecting a gain in their price to $45 in 12 months. The company has jumped +6.7% in the past three days, paring its loss for the year to 47%. Amazon.com surged +5.5% after breaking its average price for the past 50 days. TripAdvisor Inc and Pandora Media Inc added more than +2.8%.

 

Asian stocks were mixed after the ECB announced stimulus measures. The Nikkei 225 (-0.01%) was flat, the Hang Seng (-0.21%) was down, while the S&P/ASX 200 (+0.50%) increased. Kyowa Hakko Kirin gained +2.8% after Barclays upgraded the shares to “overweight” from “equal weight”. Prada SpA sank -5.9% in Hong Kong after profit missed analysts’ estimates as a tourism slump damped its sales of luxury goods in Europe. Infosys Ltd dropped -2.4% in Mumbai after the resignation of Prasad Thrikutam, the vice-president for marketing at the software-services provider. Sumco Corp surged +11% to lead gains in the Nikkei 225. Commonwealth Bank of Australia climbed +1% in Sydney.