Morning Spread

Morning Spread

Thursday 6th November 2014
IndexLevelChg (%)
UK Market6515.07-0.37
Dow Indust Avg17484.53+0.58
S&P 5002023.57+0.57
Nasdaq Composite4620.72-0.06
Nikkei 22516792.48-0.86
Hang Seng23649.31-0.20
IndexLevelChg (%)
Nymex 1m78.84+0.20
Gold Spot1145.15+0.39
GBP/USD1.5973+0.04
GBP/EUR1.2767-0.20
EUR/USD1.2512+0.15
USD/JPY114.54+0.09

European stocks fell as investors awaited the ECB’s monetary policy decision and any hints on further stimulus from President Mario Draghi. The ESTX 50 (-0.77%), UK markets (-0.27%), CAC 40 (-0.64%) and the Dax (-0.43%) all posted losses in early trading. Legrand SA lost -3.4% after saying 2014 sales and operating margin will be at the low end of its targets. Societe Generale SA slid -2.5% after France’s second largest bank posted third quarter earnings that missed analysts’ estimates. Adidas AG rose +4.4% after reporting quarterly profit that topped projections. HeidelbergCement AG gained +3.6% after saying third quarter earnings increased. Cable & Wireless Communications Plc dropped -7.34% after agreeing to pay about $1.85 billion for Columbus International Inc. Experian Plc added +3.9% after first half sales and profit rose. BP Plc (-0.68%), GlaxoSmithKline Plc (-1.81%) and Unilever (-0.44%) all retreated as they traded without the right to their latest dividend.

 

US stocks rose as Republicans won their first Senate majority in eight years and a report showed companies added more workers last month than economists forecast. The Dow Jones Industrial Average (+0.58%) and the S&P 500 (+0.57%) both gained, while the Nasdaq Composite (-0.06%) declined. Alpha Natural Resources surged +17% and Peabody Energy increased +4.8% amid expectations that Republicans will oppose restrictions on coal producers. TransCanada Corp’s US shares advanced +3.3% on speculation Republican victories will bolster support for the Keystone XL pipeline. NRG Energy Inc rallied +7.8% after reporting third quarter profits that exceeded analyst forecasts. Time Warner Inc climbed +4% after beating analysts; profit estimates last quarter after collecting higher fees for its TV channels.

 

Asian stocks fell as Japanese financial firms declined and a drop in iron-ore prices weighed on Australian iron producers. The Nikkei 225 (-0.86%), Hang Seng (-0.20%) and the S&P/ASX 200 (-0.21%) all retreated. Fortescue Metals Group Ltd tumbled -8.5% after iron ore fell to the lowest level in more than five years as China ordered some mills to curb output to cut pollution before hosting a global summit, hurting demand in the biggest consumer of iron just as rising supplied exacerbate a glut. Rakuten Inc surged +10% after profit at the company topped estimates. Mitsubishi UFJ Financial Group Inc, Japan’s largest lender, dropped -2%. Sapporo lost -3.1% after saying quarterly operating profit dropped 19% from a year earlier.