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Coca-Cola European Partners Limited (CCEP)

Closing Price Change:
$0.11
Closing Price:
$33.56
Market Cap:
$15,855m

US open: Dow down over 90 points as unemployment claims rise to four-month high

06 Aug 15

LONDON (ShareCast) - (ShareCast News) - US equities fell early on Thursday as investors remained jittery over a series economic reports that could influence the timing of the first rate hike by the Federal Reserve
Just after 1500 BST, the Dow Jones Industrial Average was down 94 points to 17,446.64, while the S&P 500 and the Nasdaq were five and 16 points lower respectively.

Thursday data

Initial US unemployment claims rose for the second straight week, reaching their second-lowest level since the recession ended, data released on Thursday showed.

In the week ended 1 August, initial claims increased by 3,000 to reach 270,000, according to figures published by the Department of Labor, in line with consensus for a 272,000 reading.

"On balance, low trend levels of initial and continuing jobless claims support our view of healthy labor markets," analysts at Barclays said in a note.

"We look for non-farm payroll gains of 200k in tomorrow's July employment report."

Mondelez surges, Tesla slumps

In company news, Mondelez International rose 1.47% on news that the activist investor Bill Ackman has invested $5.5bn in the snack giant.

Among the companies reporting ahead of the bell, SeaWorld Entertainment climbed 3.62%, despite posting profit and revenue that fell short of estimates.

Fashion retailer Michael Kors surged 9.77% after reporting better-than-expected first quarter earnings.

Going the other way, coffee machine producer Keurig Green Mountain plunged 29.2% after reporting a drop in sales and unveiled plans for job cuts late on Wednesday.

Electric car-maker Tesla Motors slumped 6.16%, despite topping Wall Street's estimates as it revealed its full-year sales will fall short of expectations.

Pharmaceutical group Allergan and game developer Zynga are on tap after the close.

Elsewhere, European equity markets were in the red, with oil and gas stocks under pressure as investors sifted through another batch of corporate results, while Asian stocks closed on a mixed note with Japanese stocks rising on US economic optimism and a weaker yen.

The dollar was broadly flat against the yen and the euro, but gained 0.51% against the pound, while gold futures gained 0.01% to $1,085.70 an ounce.

Oil prices edged lower, with West Texas Intermediate losing 1.21% to $44.61 a barrel, while Brent shed 0.34% to $49.42 a barrel.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are end of day values only.

 

Market Data

Currency US Dollars
52 Week High $58.77
52 Week Low $29.71
Shares Issued 472.43m
Market Cap $15,855m

Dividends

No dividends found