European stocks extended a rebound into a third day as optimism over prospects for global growth and stimulus in Japan lifted investor sentiment. The ESTX 50 (+0.95%), CAC 40 (+0.96%), Dax (+1.23%) and the UK markets (+0.55%) all posted gains in early trading. LafargeHolcim Ltd rose +2.2% after agreeing to sell an Indian building materials business to Nirma Ltd for an enterprise value of about $1.4 billion. Cerillion Plc jumped +7.9% after saying it won a contract worth an initial £2.1 million from a telecommunications company. Monte Paschi climbed +7.2% after Italian newspapers reported that bank rescue fund Atlante will soon take on additional role to soak up bad loans from Monte Paschi.
US stocks gained after a larger than expected jump in jobs growth confirmed the US economy has regained speed after a first quarter lull. The Dow Jones Industrial Average (+1.40%), S&P 500 (+1.53%) and the Nasdaq Composite (+1.64%) all increased. After a poor payrolls report for May that raised concerns about the health of the economy, US employers added 287,000 jobs in June, beating market expectations for the first time in four months. Raw materials posted their biggest one day gain in four months, rising 2.5%. Dow Chemical Co and Monsanto Co rose at least +2%. Alcoa advanced +5.1% before its earnings report scheduled for later today. Freeport McMoRan Inc gained +5%.
Asian stocks rose after a strong US jobs report eased concerns about the world’s largest economy. The S&P/ASX 200 (+2.04%), Hang Seng (+1.54%) and the Nikkei 225 (+3.98%) all advanced. Nintendo Co surged +25%, its biggest ever advance, after new mobile game app, Pokemon Go, climbed to the top of the free-to-use charts for Apple Inc in the US and Australia. Panasonic Corp jumped +7.9% after it was reported that Volkswagen is considering teaming up with electric car battery specialists such as Panasonic as it overhauls its strategy to emerge from the diesel emissions scandal. Kyushu Electric Power Co slumped -7.6% after voters in the prefecture where the utility operates a nuclear reactor elected a new governor who is demanding the company’s atomic plant be temporarily halted due to safety concerns.
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.