Morning Spread

Morning Spread

Tuesday 9th September 2014
IndexLevelChg (%)
UK Market6824.85-0.15
Dow Indust Avg17111.42-0.15
S&P 5002001.54-0.31
Nasdaq Composite4592.29+0.20
Nikkei 22515749.15+0.28
Hang Seng25190.45-0.20
IndexLevelChg (%)
Nymex 1m93.15+0.53
Gold Spot1256.70+0.10
GBP/USD1.6122+0.09
GBP/EUR1.2506+0.23
EUR/USD1.2891-0.33
USD/JPY106.24-0.34

European stocks were little changed as Scotland prepared for a referendum on independence while investors weighed the prospects for central bank stimulus. The ESTX 50 (-0.26%), CAC 40 (-0.11%), DAX (-0.12%) and UK markets (-0.12%) all posted small declines in early trading. L’Oreal SA dropped -2.1% after lowering its market growth forecast for the second half of the year. Camesa Corp Tecnologica SA slipped -3.4% as it is raising funds through a share sale. ABB Ltd climbed +1.4% after saying it will buy back shares for $4 billion. Telecom Italia SpA advanced +2.9% as America Movil SAB said it plans to make a bid with Oi SA for the company’s wireless unit in Brazil. Quindell Plc rallied +5.5% after winning a court ruling in libel proceedings against Gotham City Research LLC. The stock slumped -39% on April 22nd after Gotham City questioned the company’s profits.

 

US stocks fell as declines in energy companies along with oil prices overshadowed a rally by Yahoo! Inc. The Dow Jones Industrial Average (-0.15%) and the S&P 500 (-0.31%) retreated, while the Nasdaq Composite (+0.20%) increased. Marathon Oil Corp dropped -1.7% and Newfield Exploration Co lost -4.7%, the most in the S&P 500. Exxon Mobil retreated -1.5%, while Chevron dropped -0.9% as oil prices tumbled. Ford declined -2% after Morgan Stanley downgraded the shares to “underweight” from “overweight”. Yahoo climbed +5.6% to the highest level since 2006 after Alibaba Group Holding Ltd said it plans to raise as much as $21.1 billion in an initial public offering. Campbell Soup Co slid -2.6% as its 2015 profit forecast was less than analysts had estimated.

 

Asia stocks were mixed after the S&P 500 retreated from a record and as consumer shares slipped. The Hang Seng (-0.20%) declined, while the Nikkei 225 (+0.28%) and the S&P/ASX 200 (+0.55%) both advanced. Newcrest Mining Ltd slid -2% after the price of bullion closed at a three month low. Honda Motor Co, a company that gets about 84% of sales abroad, added +1.1% as the yen touched its lowest level in almost six years. Okuma Corp dropped +5% in Tokyo after Credit Suisse Group AG cut its rating on the company to “underperform” from “outperform” and reduced its share price forecast.