European stocks climbed as Sky Deutschland jumps on BskyB talks. The ESTX 50 (+0.08%), UK Markets (+0.29%) and the DAX (+0.31%) all posted gains in early trading, while the CAC 40 (-0.14%) declined. Sky Deutschland AG rallied +5.4% after British Sky Broadcasting Group Plc said it’s working on a deal that would see it acquire control of the company. Logitech advanced +2.3% after Credit Suisse raised its rating on the stock to “outperform” from “neutral”, citing that the company’s sales and profit forecasts for its 2015 financial year are too low. Lonmin advanced +2.1% after reporting that it will start processing platinum this month as it anticipates an end to a strike that has crippled its operations in South Africa for more than 15 weeks. Mining stocks advanced. BHP Billiton Ltd climbed +1.5%, Rio Tinto Group advanced +2.9% and Anglo American Plc rose +1.8%.
US stocks rose as Internet shares rebounded after a three day selloff and retailers advanced. The Dow Jones Industrial Average (+0.20%), S&P 500 (+0.15%) and the Nasdaq Composite (+0.50%) all gained. Groupon climbed +7%. The shares, which rose 142% in 2013, dropped as much as 56% from this year’s high on 3rd January. LinkedIn, which rallied 89% last year, increased +2.5%. The shares are down 31% this year. Netflix Inc rose +2.1%, trimming its loss for the week to -3.6%. TripAdvisor Inc, Google Inc and Amazon.com all climbed more than +1.2%. Gap jumped +3.3% after posting preliminary first quarter profit that topped analysts’ estimates. Symantec gained +3.3% after forecasting first quarter sales that exceeded analysts’ projections. CBS declined -2.2% after saying first quarter sales fell 4.6% as advertising revenue dropped 12% in the period.
Asian stocks outside Japan rose as Chinese shares surged on speculation the government will take steps to bolster equities. The Hang Seng (+1.88%) advanced, while the Nikkei 225 (-0.35%) and the S&P/ASX 200 (-0.23%) declined. Samsung Electronics rose +4% in Seoul as Chairman Lee Kun Hee was reported to be in a stable condition after surgery following a heart attack. DeNA Co slumped -20% in Tokyo after forecasting operating profit that missed estimates. NSK Ltd surged +9.7%, its biggest advance in a year, after forecasting full year profit that was above analysts’ estimates. NTT Urban Development Corp fell -8.8% after projecting a drop in net income. Konica Minolta plunged -11% after forecasting full year profit that missed analysts’ estimates.
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.