In the US equity markets there were reasonable gains after economic data showed that retail sales picked up in May, with auto sales strong along with clothing and building materials. The Gap rose 1.94%, Tractor Supply was up 1.32% and Toll Brothers gained 1.42%. After the market close there was a rise of nearly 6% in Twitter on news that the CEO was to leave, he will be replaced in the interim by one of the co-founders. In the rail sector, CSX Corp rose 2.9% on rumours that it could be involved in a merger deal in Canada. Healthcare was also strong with Eli Lilly up 4.1%, Baxter International was up 3.4% and Amgen was up 1.55%. Energy stocks were the only real negative with Transocean down 5%, Schlumberger down 1.05% and Nabors lost 1.59%.
Asia was generally positive with the Yen weakening against the US$ and stocks such as Murata rose 3.2%, Fujitsu was up 2.50% and Minebea gained 4.50%. On the downside were power companies with Osaka Gas falling 3.3% and J-Power lost 3.1% on coal opposition. Chinese stocks gained on further monetary stimulus prospects with Shimao Property up 4.31%, Poly Property rose more than 7% and China Resources Land was 5.4% higher. In Taiwan, there was a strong performance from IPO technology stock, General Interface, up 39% on it’s first day of trading. In South Korea, Hanwha Life dropped 3.6% on concerns about the earnings environment.
European equities are quiet in Friday trading as the Greek debt negotiations rumble on with no conclusion. Decliners include Carrefour down 1.05%, UBS is nearly 1.50% lower and Bayer is down by 1.12%. In Denmark, TDC, the telecoms company is up 2.52% after the stock was rated a ‘strong buy’ with Bank of America. In the UK, Johnson Matthey is down 2.1% as investors continue to worry about working capital issues and delayed cash returns. After the recent strong run, J Sainsbury is down 2% on profit taking, CRH is 1.75% lower and Weir Group is down 1.23%. On the plus side, Royal Mail Group is up 1.56% after the placing of the Government stake. Other gainers include ITV up 0.86%, BT Group is 0.5% higher and Imperial Tobacco is up by a similar amount.
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.