In the US there was further strength in equities on Friday as investors were surprised by the strength of the US jobs report. It showed decent growth across all sectors with 321,000 jobs added in November with signs of wage growth as well. Financials responded well with Bank of America up 2.73%, JP Morgan gained 2.15% and Citigroup was up 1.61%. Other GDP sensitive stocks to rise included FedEx Corporation up 1.03%, McDonalds up 0.68% and Dow Chemical up 0.79%. Chinese equities have been booming recently and US listed shares in China Mobile were up 1.20%.
Asia enjoyed broad based gains overnight with Japanese stocks continuing to benefit from positive sentiment. Toyota was up 1.5%, closing at the highest level since March 2007. There was however, weakness in Sony which fell more than 3% on news of the North Korean computer hacks on its film and television division. Tyremakers were positive with Bridgestone up nearly 2%, Toyo Tire was up 1.4% and Sumitomo Rubber was up 0.84%. There were gains in the Australian Banking sector as investors felt the capital raising requirement was not too punitive, ANZ was up 0.9%, Westpac was up 1% and National Australia Bank was up 1.8%.
Europe is pulling back mildly in early trading, having closed at the highest level since January 2008. In France, Saint-Gobain is down 3.25% as Europe’s largest building materials company made a hostile bid for a controlling stake in Sika, a Swiss Chemicals business. Other fallers include ENI down just over 1%, Airbus is down 1.11% and Bayer is 1% lower. Amongst the gainers there is a relief rally in Seadrill up 5.4% and Commerzbank is up 1.16%. In the UK, Marks & Spencer is down nearly 3% after the company admitted customers had been impacted by delays to their online orders.
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.