In Asia equity markets were broadly higher with the Chinese market overtaking the Japanese market as the second largest stock market in the world. Chinese Banks continued to be very strong with China Citic Bank up nearly 9%. Airlines in the region were in focus with the continued sharp falls in the crude oil price dramatically boosting profitability. For instance, Qantas climbed 7% and Cathay Pacific was up 5%. On the downside the Australian oil exploration sector continued to be hammered with Santos down 13%, Sundance Energy down 15% and Senex down 16%. In Japan, the Shipping sector gained with Kawasaki Kisen up 6.9% and Mitsui OSK Lines was up 3.6%.On the negative front, industrial plant company, Chiyoda, lost over 5% on a broker downgrade.
US equity markets were closed for Thanksgiving.
In Europe the focus is all on the Energy sector with sharp falls across the board in the wake of OPEC not cutting production levels. In Norway, Statoil is down 8.67%, Total is down 4.30% and Seadrill is down just over 5%. Other fallers include Carlsberg down 2.25%, BASF down 2.70% and Den Norske Bank is 4.40% lower after an update not as bullish as investors hoped for. In the UK, BG Group is nearly 8% lower, Weir Group is down 7% and Tullow Oil is down 5.4%. Airlines higher include Easyjet up 1.6% and International Consolidated is 0.75% up. Telecoms globally have been a better sector in recent weeks and Vodafone is up again by 2.16%.
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.