Morning Spread

Morning Spread

Friday 7th November 2014
IndexLevelChg (%)
UK Market6599.56+0.74
Dow Indust Avg17554.47+0.40
S&P 5002031.21+0.38
Nasdaq Composite4638.47+0.38
Nikkei 22516880.38+0.52
Hang Seng23550.24-0.42
IndexLevelChg (%)
Nymex 1m78.00+0.12
Gold Spot1144.73+0.25
GBP/USD1.5831+0.05
GBP/EUR1.2769-0.06
EUR/USD1.2398+0.01
USD/JPY115.20-0.27

European stocks were mixed as investors turned their focus to the US economy before a monthly jobs report. The ESTX 50 (-0.13%) and the CAC 40 (-0.04%) were slightly negative this morning, while the UK markets (+0.81%) and the Dax (+0.04%) were positive. Vestas Wind Systems A/S rallied +8.5% after raising its 2014 forecasts for sales, profitability and free cash flow after financial results for the third quarter exceeded estimates. Allianz SE rose +3.7% after saying it will pay shareholders a larger share of profit. ArcelorMittal added +3.7% after saying third quarter profit jumped +11%, beating estimates. Skanska AB gained +4.1% after third quarter sales and profit exceeded analysts’ estimates. Swiss Re advanced +2.4% after posting an unexpected increase in third quarter net income. National Grid gained +0.27% after saying first half adjusted pretax profit rose 16%.

 

US stocks rose as the ECB vowed to increase stimulus efforts if needed and a drop in American jobless claims bolstered optimism in the economy. The Dow Jones Industrial Average (+0.40%), S&P 500 (+0.38%) and the Nasdaq Composite (+0.38%) all advanced. Tesla Motors Inc rose +4.4% as it predicted several years of 50% sales growth amid a surge in orders. Whole Foods Market Inc rose +12% after posting better than forecast quarterly profit. Genworth Financial Inc plunged -38% after predicting a tougher path ahead after a record loss. Qualcomm Inc slid -8.6% after saying a Chinese government probe will curb profit. AES Corp fell -6.4% after reporting third quarter sales that fell short of consensus analyst estimates.

 

Most Asian stocks rose after a drop in American jobless claims bolstered optimism about the world’s largest economy before a government report on employment. The Nikkei 225 (+0.52%) and the S&P/ASX 200 (+0.78%) both gained, while the Hang Seng (-0.42%) declined. Companies that do business in the US rose, with Mazda climbing +1.4%. Sony Corp, a company that generates 17% of its revenue in the US, climbed +1.2%. Daikin gained +1.9% after the Nikkei newspaper reported the company’s full year operating profit will reach about 190 billion yen, beating its forecast. Mitsubishi climbed +2.2% after saying its first half profit increased 15% from a year earlier. Hong Kong Exchanges & Clearing Ltd added +2% amid optimism for cross border equity trading. Commonwealth Bank of Australia advanced +1.9%.