Morning Spread

Morning Spread

Tuesday 14th April 2015
IndexLevelChg (%)
UK Market7076.90+0.18
Dow Indust Avg17977.04-0.45
S&P 5002092.43-0.46
Nasdaq Composite4988.25-0.15
Nikkei 22519908.68+0.02
Hang Seng27579.26-1.54
IndexLevelChg (%)
Nymex 1m52.37+0.89
Gold Spot1193.92-0.40
GBP/USD1.4647-0.16
GBP/EUR1.3884-0.16
EUR/USD1.0549-0.31
USD/JPY119.86+0.31

US equities fell in Monday trading on volumes that were 20% below usual. After the strong rise in General Electric on Friday, the stock succumbed to inevitable profit taking and fell 3.1%. Other Industrial heavyweights were also down with Union Pacific losing 1.6% and Lockheed Martin was down a similar amount. Energy stocks were also weaker with Schlumberger down 1.22%, Halliburton down 1.77% and Valero Energy down 3.80%. In the technology sector, Netflix led the way up over 4% after the broker, UBS, issued a buy rating. Other gainers included Facebook up 1.2% and Hewlett Packard up 1.8%.

Asia was mixed overnight with the main feature being Hong Kong falling on profit taking. The Hang Seng closed down 1.78% with China Life down 6%, Tencent fell 5.6% and Citic Securities fell just over 3%. In Japan, there were again low trading volumes with Nippon Paper up 3% and Sakata Seed climbed 3.5%. In Australia, the embattled miner, Fortescue, enjoyed its first rise in four days, up 3.4%, as the company announced changes to production levels. In Taiwan, Winbond Electronics was up nearly 7% after winning a contract with Samsung to supply flash chips.

Europe is also quiet in Tuesday trading with the main feature being Nokia, which is down 6% on news that the company is looking to purchase Alcatel, whose stock is up nearly 12%. In Switzerland, transport company Kuehne & Nagel is down nearly 3% as the company has struggled in the face of a rising Swiss franc and has cut the outlook for the seafreight market. In the UK there are few features, although some of the miners are bouncing with Rio Tinto up nearly 1.5% and Glencore up just over 1%.