US equities were in positive territory on Friday after a very strong jobs report, it would appear that investors are now more comfortable with any potential taper. The improvement in the level of employment combined with faster wage gains and more hours worked is very positive for the US economy. Financials were unsurprisingly positive with Invesco up 3.11%, Wells Fargo was up 1.99% and Ameriprise gained 2.59%. Intel climbed 2.3% after Citigroup raised the stock to Buy, on the back of more positive consumer electronics. Other gainers included General Motors up nearly 3%, Campbell Soup rallied nearly 6% and Procter & Gamble rose 2.21%.
In Asia there was a boost for Japan as the Yen fell further, as a result of the US jobs report. Exporters such as Mazda were positive up nearly 3%, Casio Computer was up just over 6% and Hitachi was up nearly 3%. In Australia there was an awful profit warning from QBE Insurance which saw 22% wiped from the market capitalisation. The company announced a surprise loss on unexpected writedowns at the US operations. Political focus was in Thailand where the Prime Minister announced plans to dissolve parliament and hold fresh elections. Hong Kong was positive after some good news on Chinese exports, for instance, China Merchants Holdings, the large port operator rose 5.5%.
Europe is relatively quiet in early trade with most focus on HSBC, which is the subject of rumours that it will IPO the UK operations, in a move that would help meet the company meet the new regulations. The stock is up 0.58%, with RBS up 0.89% and Lloyds Banking is 0.36% higher. Others stocks that are up include Nokia which is up 2.45%, Alstom is up 1.91% and Italcementi is up nearly 2.5%. Weak stocks include Anheuser Inbev down 1.5%, Danone down 2.02% and Carrefour is 1.15% lower. Miners are also weaker with Rio Tinto down 0.85%, Glencore is 0.93% weaker and BHP Billiton is down 0.60%.
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.