Morning Spread

Morning Spread

Thursday 9th June 2016
IndexLevelChg (%)
UK Market6245.80-0.88
Dow Indust Avg18005.05+0.37
S&P 5002119.12+0.33
Nasdaq Composite4974.64+0.26
Nikkei 22516668.41-0.97
Hang Seng21297.88-0.14
IndexLevelChg (%)
Nymex 1m51.14-0.18
Gold Spot1260.00-0.22
GBP/USD1.4465+0.47
GBP/EUR1.2725-0.20
EUR/USD1.1367-0.28
USD/JPY106.43+0.35

European stocks declined this morning. Seadrill Ltd fell -6.4% after saying it will issue 7.5 million new shares in exchange for debt. The ESTX 50 (-1.20%), CAC 40 (-1.09%), Dax (-1.34%) and the UK markets (-0.87%) all posted losses in early trading. Rolls-Royce Holdings Plc lost -2.7% after the CEO told employees that the company needs to step up efforts to recover a waning delivery schedule. Essentra Plc tumbled -26% after saying it probably won’t be able to achieve the financial results it predicted in February. Taylor Wimpey Plc and Berkeley Group Holdings Plc dropped more than -3.2% after a report by the Royal Institution of Chartered Surveyors predicted British house prices will fall for the first time since 2012.

US stocks rose as declines in the dollar lifted some commodity related shares and boosted the outlook for multinationals. The Dow Jones Industrial Average (+0.37%), S&P 500 (+0.33%) and the Nasdaq Composite (+0.26%) all increased. Lululemon Athletica Inc shares rose +4.9% after first quarter sales beat analyst expectations. VeriFone Systems fell -24.7% after announcing lower than expected earnings and said it intends to reduce headcount and conduct a strategic review to address underperforming businesses. UnitedHealth gained +2.53% after raising its quarterly dividend by 25%. Amazon.com Inc climbed +0.40% after announcing plans to invest $3 billion in India, with CEO Jeff Bezos saying he sees huge potential in that economy.

Asian stocks retreated as a strengthening yen pressured Japanese shares, overshadowing gains from energy producers amid a rally in crude. The S&P/ASX 200 (-0.15%), Hang Seng (-0.14%) and the Nikkei 225 (-0.97%) all declined. Insurers led losses in Tokyo, with Dai-ichi Insurance Co and T&D Holdings Inc declining at least -2%, as the slide in global yields clouded the outlook for investment income. Amcor Ltd tumbled -8.1% in Sydney after saying it will incur a $350 million charge as it revamps operations in Venezuela. Hyundai Development Co Engineering & Construction rose +2% in Seoul, on speculation house builders will benefit from lower borrowing costs. Inpex Corp climbed +2.6% pacing gains among energy producers.