European stocks rose as quarterly earnings from several companies exceeded analysts’ estimates. The ESTX 50 (+0.68%), UK Markets (+0.01%), CAC 40 (+0.10%) and the DAX (+0.54%) all posted gains in early trading. ThyssenKrupp climbed +5.7% after raising its full year earnings forecast. Airbus advanced +5% after reporting first quarter earnings that beat the average analyst estimate. Pandora A/S jumped +7.8% after saying full year earnings will exceed its previous estimate. First quarter revenue surged 30%, beating analysts’ projections. AstraZeneca Plc gained +0.9% after it was reported that Pfizer may sweeten its bid for the company. Pfizer are working on a new offer that increases the value of its current bid to £50 per share and boosts the cash portion. Telecom Italia slipped -2.3% after reporting that first quarter sales fell 12%. EasyJet Plc lost -4.2% after reporting a pre-tax loss of £53 million in the six months to March 31st.
US stocks climbed as internet and small-cap shares rallied amid deals activity that boosted confidence in the world’s largest economy. The Dow Jones Industrial Average (+0.68%), S&P 500 (+0.97%) and Nasdaq Composite (+1.77%) all advanced. 21st Century Fox Inc jumped +3.1% after reports that British Sky Broadcasting Group Plc is in talks to buy European pay TV assets from Fox. Pinnacle Foods Inc surged +13% after Hillshire Brands Co agreed to buy it for about $6.6 billion including debt. Producers of raw materials rallied. Alcoa Inc gained +4.2%. United Technologies Corp and General Electric Co rose more than +1.5% as industrial shares advanced. RadioShack Corp rose +4.5% after Standard General reported a 9.8% stake in the company, up from a 4.83% at the end of December. Vantiv Inc gained +3.1% after it was reported that the company is near a deal to acquire Mercury Payment Systems Inc for about $1.65 billion.
Asian stocks rose as investors weighed earnings and after US equity indexes climbed to records. The Nikkei 225 (+1.95%), Hang Seng (+0.32%) and the S&P/ASX 200 (+0.91%) all rallied. Nissan Motor Co jumped +5.1% after full year profit beat estimates and the company forecast higher dividends. PanAust Ltd soared +34% on a takeover bid from Guangdong Rising Assets Management Co. PetroChina Co added +1.8% in Hong Kong after announcing the sale of pipelines valued at $6.3 billion.
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.