Morning Spread

Morning Spread

Monday 8th September 2014
IndexLevelChg (%)
UK Market6815.49-0.58
Dow Indust Avg17137.36+0.40
S&P 5002007.71+0.50
Nasdaq Composite4582.90+0.45
Nikkei 22515705.11+0.23
Hang Seng25190.45-0.20
IndexLevelChg (%)
Nymex 1m92.46-0.89
Gold Spot1267.51-0.11
GBP/USD1.6106+1.35
GBP/EUR1.244-1.30
EUR/USD1.2944-0.05
USD/JPY105.15-0.05

European stocks declined as investors weighed equity valuations. The ESTX 50 (-0.20%), UK markets (-0.45%) and the CAC 40 (-0.20%) all retreated, while the DAX (+0.02%) was flat. Electrolux AB gained +6.2% after purchasing General Electric Co’s appliances division. Air France-KLM Group advanced +0.9% after saying it carried more passengers in August. Associated British Foods Plc slipped -3.6% as full year Primark sales missed analysts’ estimates. Royal Bank of Scotland and Lloyds Banking Group Plc, the UK banks that lend the most in Scotland, fell more than -2% each. Standard Life Plc, based in Edinburgh, lost -2.5%.

 

Most Asian stocks advanced as investors weighed data showing Chinese exports rose more than analysts projected last month, while imports unexpectedly fell. The Nikkei 225 (+0.23%) gained, while the Hang Seng (-0.235) and the S&P/ASX 200 (-0.39%) both declined. SoftBank Corp climbed +2.1% as Alibaba Group Holding Ltd, in which the company holds a stake, prepares for a record breaking IPO. Henderson Land Development Co gained +1.6% in Hong Kong after a filing showed the developer plans to sell its Citistore retail chain to a unit. Rakuten Inc slumped -4.2% after saying it is in talks to buy US website operator Ebates Shopping.com Inc.

 

US stocks rose as geopolitical tensions eased and lower than estimated jobs data fuelled bets the Federal Reserve won’t rush to raise interest rates. The Dow Jones Industrial Average (+0.40%), S&P 500 (+0.50%) and the Nasdaq Composite (+0.45%) were all positive before closing for the weekend. Walgreen Co rose +2.4% after saying total sales for the fourth quarter of fiscal 2014 beat estimates. Michael Kors slid -4.5% after it was reported that they will hold a secondary offering to let the company’s biggest shareholder, Sportswear Holdings Ltd, sell a stake valued at about $930 million. Gap Inc sank -4.2% after reporting sales that was less than analysts’ estimates. Gilead Sciences Inc sank -1.4% after it was reported that the company is close to a pact with generic suppliers to bring low-cost versions of its $84,000 hepatitis C drug Sovaldi to about 80 developing countries.