European stocks rose after a report that Russian war planes have finished military exercises near Ukraine’s border. The ESTX 50 (+1.23%), CAC 40 (+1.01%), Dax (+1.37%) and the UK markets (+0.78%) all posted gains in early trading. Balfour Beatty gained +1.6% after rejecting Carillion’s revised offer, saying a merger between the two could undermine its sale of Parsons Brinckerhoff. Balfour Beatty had abandoned a round of merger talks late in July because Carillion wanted to include the unit in the deal. Banco Popolare Plc jumped +7.4% after the company unexpectedly posted a profit in the second quarter. DKSH Holding AG rallied +7.1% after posting first half net income that exceeded the forecast of analysts’ in a Bloomberg survey.
US stocks rose as signs that tensions are easing in Ukraine outweighed concern over crises in the Middle East. The Dow Jones Industrial Average (+1.13%), S&P 500 (+1.15%) and the Nasdaq Composite (+0.83%) all advanced. Gap Inc advanced +5.9% as the company’s earnings and revenue topped estimates. Coach Inc added +5.4% to lead a rally in apparel companies. Zynga Inc tumbled -1.4% after cutting its full year outlook. News Corp slid -1.6% after fourth quarter earnings missed estimates as the company struggled in its transition from print to digital. Nvidia Corp gained +8.8% after posting second quarter adjusted earnings that beat analysts’ predictions. Monster Beverage Corp advanced +6.7% after reporting quarterly earnings that beat the average estimate in a Bloomberg survey.
Asian stocks rose as Japanese shares led gains and Chinese developers surged. The S&P/ASX 200 (+0.40%), Hang Seng (+1.17%) and the Nikkei 225 (+2.38%) all rallied. Mitsui Mining & Smelting Co jumped +7.4% in Tokyo after raising its full year profit forecast. Sunac China Holdings Ltd soared +7.2% in Hong Kong, with the company poised for its highest close in 18 months, on prospects for further easing of property curbs. Malaysian Airline System Bhd soared +6.3% after sovereign wealth fund Khazanah Nasional Bhd offered to take the company private. Treasury Wine Estates Ltd rose +3.9% after TPG Capital offered $3.2 billion for the world’s second biggest listed winemaker, matching a takeover bid by KKR & Co and Phone Capital LLC.
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.