European stocks gained as global regulators diluted a debt limit plan for banks. The ESTX 50 (+0.14%), UK Markets (+0.19%), CAC 40 (+0.12%) and the DAX (+0.09%) all posted gains in early trading. Deutsche Bank AG advanced +2% and Barclays Plc gained +1.7% after the Basel Committee on Banking Supervision’s announcement on capital requirements. UBS AG advanced +2% after the CEO said the bank won’t spin off its investment banking business to meet regulators demands for holding more capital. Duedzucker AG jumped +7.9% after reiterating its full year forecasts. Alcatel-Lucent SA advanced +1.9% after it was reported that the company is in talks to sell its enterprise business to potential buyers including Unify GmbH & Co. Debenhams Plc rose +2.8% as Sports Direct International Plc acquired a 4.63% stake in the company. Sports Direct said it wants to work with Debenhams at an operational level.
US stocks rose as a weaker than estimated jobs report eased concern that the Federal Reserve may accelerate the pace of stimulus cuts. The S&P 500 (+0.23%) and the NASDAQ Composite (+0.44%) both increased, while the Dow Jones Industrial Average (-0.05%) declined. Alcoa Inc dropped -5.4% after profit missed estimates. Sears Holdings Corp plunged -14% as it forecast a fourth quarter loss and said sales during the holiday period dropped. Chevron Corp slid -1.9% after saying earnings as energy output declined. D.R.Horton Inc advanced +1.8% and Lennar Corp climbed +2% amid optimism a drop in borrowing costs will buoy demand in the housing market. Abercrombie & Fitch jumped +12% after increasing its full year earnings prediction. Newmont Mining Corp climbed +2.6% as gold futures jumped on speculation the Fed will slow the pace of stimulus reductions.
Asian stocks rose after slower growth in US payrolls eased concern the Federal Reserve will accelerate cuts to stimulus. The Nikkei 225 (+0.20%) and the Hang Seng (+0.19%) both increased, while the S&P/ASX 200 (-0.38%) decreased. Newcrest Mining Ltd advanced +6.1% as gold climbed after US jobs data. Beadell Resources Ltd climbed +5.1% and Evolution Mining Ltd rose +6.8% in Australia. Dongbu Steel Co jumped +15% in Seoul after the Maeil Business newspaper reported companies are interested in buying one of its factories and a stake in Dongbu Metal Co. Aluminium Corp of China Ltd surged +7% after returning to profit last year as it cut costs and sold assets to its parent. Sihuan Pharmaceutical Holdings Group Ltd climbed +4.8% after saying it will sell HK$53.4 million of new shares at HK$7.55 each.
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.