European stocks advanced after several companies reported earnings and a ceasefire was declared in Ukraine. The ESTX 50 (+1.09%), UK stocks (+0.36%), CAC 40 (+0.76%) and the Dax (+1.35%) all posted gains in early trading. Credit Suisse Group AG climbed +7.2% after returning to profit in the fourth quarter, announced further asset reductions, and offered investors a choice to receive their 2014 dividend in shares or cash. Renault SA rallied +8.1% after reporting a 30% jump in 2014 earnings, beating analysts’ predictions. Rio Tinto Group rose +3.1% as annual profit beat forecasts and saying it plans to spend $2 billion buying back shares. Pernod Ricard slipped -2% after saying operating profit stagnated in the six months through December.
US stocks closed fairly unchanged as investors waited for the outcomes of major talks involving Greece and Ukraine. The Dow Jones Industrial Average (-0.04%) and S&P 500 (0.00%) were flat, while the Nasdaq Composite (+0.28%) advanced. PepsiCo finished up +2.5% after reporting a better than expected quarterly profit and announced share buyback plans. Wal-Mart shares fell -1.1% after it said it would make investments to expand in Canada. Apple Inc gained +2.3% after Carl Icahn issued a letter saying Apple’s shares should be valued at $216.
Asian stocks rose as investors monitored negotiations in Europe on extending Greece’s bailout. The Nikkei 225 (+1.85%) and the Hang Seng (+0.44%) both gained, while the S&P/ASX 200 (-0.44%) declined. Toyota Motor Corp, a company that gets 78% of sales overseas, climbed +1.8% in Tokyo. Fanuc Corp jumped +6.2% to a record after Third Point hedge fund said it invested in the company and urged a buyback. China Unicom (Hong Kong) Ltd gained +4.2% to pace gains among mainland telecommunication stocks. Beingmate Baby & Child Food Co jumped +5.5% on Fonterra Cooperative Group Ltd’s plan to buy a stake. Citic Securities Co dropped -1.1%.
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.