US equity markets were closed for holidays.
Asia saw attention focussed on the latest Chinese GDP figure, which showed growth in Q4 2015 of +6.8%. This represents an economy which is expanding at the weakest rate since 2009 and led to a rally on expectations of Government stimulus measures. PetroChina was up 4.9%, China Railway was limit up 10%, as was Power Construction Group. In Hong Kong, Ping An was up 5.3%, Shanghai Fosun gained 5.4% and China Mengniu was up nearly 6%. In Australia, the banking sector boosted sentiment with Commonwealth up 1%, Westpac gained 1.3% and ANZ was 0.7% higher. In Japan, Nintendo led the risers up 9% after a broker upgrade with Nissha Printing up 6.5% and Kawasaki Kisen rose 4.5%. On the downside, Aeon REIT fell 4.5% as the company announced plans of a share sale.
Europe is also trying to rally this morning with the Euro Stoxx index up 1.5% led by the banks which are up 2.2%. Stocks rising include Deutsche Bank up 1.8%, Credit Agricole up 4.4% and Societe Generale up 2%. Other climbers include Kering up 3.3%, Statoil up 3.2% and ABB up 2.7%. There are virtually no fallers. In the UK, online retailer Ocado is shooting up 17% on Amazon bid rumours. Otherwise commodity stocks are gaining with Anglo American up 8.5%, Glencore is 7% higher and Rio Tinto is up nearly 4.5%. Other risers include Prudential up 2.6%, Persimmon up 2.7% and British Land up 1.7% after reassuring results.
Morning Spread 8th March 2017 European shares traded flat this morning, the modest moves masking significant results driven games by several companies on a bust day for European earnings.
Morning Spread 2nd November 2016 Asian stocks followed global equities lower despite gauges of manufacturing in China topping estimates and the Bank of Japan maintained its record stimulus program.
Morning Spread 1st November 2016 Asian stocks were mixed as declines in oil prices dragged energy shares lower and investor anxiety grew over next week’s US presidential election.
Morning Spread 28th October 2016 Asian stocks fell as oil explorers pushed down Hong Kong gauges, while investors digested earnings from several companies.
Morning Spread 27th October 2016 US stocks were mixed following the release of earnings from several companies.
Morning Spread 24th October 2016 US stocks were little changed as a record day for Microsoft and earnings from McDonald’s helped offset a fall in energy and healthcare shares.
Morning Spread 19th October 2016 Asian shares rose as a barrage of Chinese data confirmed the economy had stabilised on the back of government spending and a hot housing market, even if worries about debt continue to mount.
Morning Spread 10th October 2016 Asian stocks were mixed following the second US presidential debate between Hilary Clinton and Donald Trump.
Morning Spread 5th October 2016 Most Asian stocks outside Japan slid on concern central banks will reduce stimulus, while the Nikkei climbed after the yen weakened.
Morning Spread 27th September 2016 Asian stocks advanced with investors viewing Democratic candidate Hillary Clinton as having gotten the upper hand in the first US presidential debate.