European stocks advanced after a gauge of global shares suffered its biggest weekly loss in three months. The ESTX 50 (+0.71%), UK Markets (+0.67%), CAC 40 (+0.71%) and the Dax (+0.80%) all posted gains in early trading. Shire Plc advanced +2.8% in London after it was reported that the company is willing to recommend a revised offer from AbbVie Inc for a deal to combine the two companys. AbbVie’s cash and stock offer values Shire at £53.20 a share, compared with the July close of £48.70. Rolls-Royce rose +1.5% after Airbus Group NV said it will upgrade its A330 planes with engines from the company. Huntsworth Plc plunged -17% after the public relations firm said first half results will fall short of estimates.
US stocks rose as a rally in some tech stocks led an afternoon rebound from declines spurred by concern over financial stress in Europe. The Dow Jones Industrial Average (+0.17%), S&P 500 (+0.15%) and Nasdaq Composite (+0.44%) all advanced. EBay rose +2.3% as sales grew more than 12% in June. Amazon.com jumped +5.6% after a Piper Jaffray report showed that Amazon.com’s sales have exceeded those for EBay by an average of 4% over the last four quarters. Wells Fargo dropped -0.6% after reporting quarterly profit that was in line with estimates. The result ended a 17 quarter streak of rising per-share earnings at the bank. Whirlpool Corp increased +1.1% after agreeing to pay $1 billion for a controlling stake in Indesit Co, its largest acquisition since buying former rival Maytag Corp, eight years ago.
Asian stocks rose as telecommunications firms and health care shares advanced. The Nikkei 225 (+0.88%), Hang Seng (+0.49%) and the S&P/ASX 200 (+0.45%) all rallied. Hyundai Hysco sank -1.4% in Seoul and SeAH Steel Corp declined -15% after the US Commerce Department set duties from 9.89% to 15.75% on South Korean pipe, which is used in oil drilling. Chinese phone services providers climbed on speculation a cellular tower joint venture between the nation’s largest mobile carriers will boost earnings. China Mobile Ltd climbed +2.4% and China Telecom Corp advanced +3.3% in Hong Kong. China Unicom (Hong Kong) Ltd rose +3.9%. BYD Co gained +3.4% in Hong Kong after China issued a mandate on new government vehicles using clean energy.
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.