Morning Spread

Morning Spread

Thursday 9th January 2014
IndexLevelChg (%)
UK Market6741.41+0.29
Dow Indust Avg16462.74-0.41
S&P 5001837.49-0.02
Nasdaq Composite4165.61+0.30
Nikkei 22515880.33-1.50
Hang Seng22787.33-0.91
IndexLevelChg (%)
Nymex 1m92.63+0.32
Gold Spot1227.33+0.11
GBP/USD1.6460-0.10
GBP/EUR1.2095-0.19
EUR/USD1.3609+0.28
USD/JPY

European stocks were down as investors awaited the ECB’s interest rate decision. The ESTX 50 (-0.27%), CAC 40 (-0.40%) and the DAX (-0.29%) all declined, while the UK Markets (+0.12%) were up this morning. Tesco Plc slipped -2.7% after reporting comparable sales in the Christmas holiday season that missed analysts’ estimates. William Morrison Supermarkets Plc retreated -5.9% after saying underlying profit for the year will be at the lower end of their predicted range. Arkema fell -3.2% after lowering its forecast for 2013to around €900 million from a previous estimate of €920 million. TGS Nopec Geophysical Co jumped +14% after raising its annual revenue projection. CRH Plc advanced +2% in Dublin after UBS AG advised investors to buy the shares. Standard Chartered Plc dropped -3.2% after naming Mike Rees deputy group CEO.

 

US stocks fell as Federal Reserve minutes and better than estimated payrolls data fuelled concern stimulus cuts may be accelerated. The Dow Jones Industrial Average (-0.41%) and the S&P 500 (-0.02%) both declined, while the NASDAQ Composite (+0.30%) increased. Ford Motor Co gained +1% after CEO Alan Mulally ruled himself out from a race for the top job at Microsoft Corp. Micron Technology Inc jumped +9.9% after reporting quarterly revenue that topped estimates. Forest Laboratories Inc climbed +18% as it agreed to buy Aptalis Pharma for $2.9 billion. Twitter dropped -3.5% after Cantor Fitzgerald LP downgraded the shares to “sell” from “hold” and said the company’s valuation is excessive. Tenet Healthcare Corp slid -1.6% after Raymond James Financial Inc cut the shares to “market perform” from “outperform”.

 

Asian stocks fell as China’s factory gate prices, the actual cost of manufacturing goods before any mark-up is added, extended the longest streak of declines since the Asian financial crisis and Federal Reserve minutes showed officials saw diminishing benefits from bond buying. The Nikkei 225 (-1.50%) and the Hang Seng (-0.91%) both retreated, while the S&P/ASX 200 (+0.16%) increased. Great Wall Motor Co slumped -7.9% in Hong Kong forecasting sales growth would slow this year. Canon Inc lost -2% in Tokyo on a report operating profit probably missed its own forecast. Belle International Holdings Ltd fell -3.4% in Hong Kong after surging +13% yesterday. Daiei Inc slumped -7.3% in Tokyo after cutting its operating profit forecast.