Morning Spread

Morning Spread

Friday 6th March 2015
IndexLevelChg (%)
UK Market6957.97-0.05
Dow Indust Avg18135.72+0.21
S&P 5002101.04+0.12
Nasdaq Composite4982.81+0.32
Nikkei 22518971.00+1.17
Hang Seng24164.00-0.12
IndexLevelChg (%)
Nymex 1m51.10+0.67
Gold Spot1194.42-0.33
GBP/USD1.5205+0.15
GBP/EUR1.3850+0.20
EUR/USD1.0978-0.35
USD/JPY120.10+0.03

European stocks were little changed as investors awaited data on US payrolls. The ESTX 50 (+0.03%) and the Dax (+0.07%) were slightly up, while the CAC 40 (-0.27%) and the UK markets (-0.12%) were negative in early trading. PSA Peugeot Citroen climbed +3% after Euronext NV said the company will replace Gemalto NV on the benchmark CAC 40 index from March 23rd. Gemalto lost -3.5%. Banco BPI SA advanced +5.9% after its board advised shareholders to reject a bid by CaixaBank SA because the offer is too low. Banco Comercial Portugues SA, which said this week it’s prepared to study the potential for a merger with BPI, added +1.9%. Scor SE gained +3.1% after it was reported that Sompo Japan Nipponkoa Holdings Inc plans to buy a 15% in the company. Mining stocks suffered this morning with BHP Billiton Ltd and Rio Tinto Group both losing more than -1%, while Anglo American Plc declined -1.8%.  

 

US stocks closed modestly higher on Thursday as investors awaited todays jobs report, which is expected to be a big factor influencing the timing of a Federal Reserve interest rate hike. The Dow Jones Industrial Average (+0.21%), S&P 500 (+0.12%) and the Nasdaq Composite (+0.32%) all gained. AbbVie fell -5.7% after saying it would buy Pharmacyclics for about $21 billion, giving it access to what is expected to be one of the world’s top selling cancer treatments. Pharmacyclics shares jumped +10.3%. Vertex Pharmaceuticals closed up +5.8%, Regeneron Pharmaceuticals added +3.8% and Biogen Idec rose +2.8%. Kroger rose +7% after reporting a 23% rise in quarterly profit and forecast full year earnings above expectations.

 

Asian stocks were mixed after the ECB committed to begin asset purchases and concern among Chinese investors that new share offering next week will divert funds away from existing equities. The Nikkei 225 (+1.17%) advanced, while the Hang Seng (-0.12%) and the S&P/ASX 200 (-0.09%) both declined. Sekisui House Ltd gained +4.2% after saying it will buy back as much as 20 billion yen of shares. Sumitomo Dainippon Pharma Co jumped +12% after Nomura Holdings raised its target price on the stock. FamilyMart Co dropped -2.2% after saying it is in talks to merge Uny Group Holdings. China CNR Corp and CSR Corp increased at least +7.5% after their merger plan was approved. Aluminium Corp of China Ltd jumped +10% to lead Chinese material producers higher.