European equities rose amid speculation that central banks will continue supporting expansion. The ESTX 50 (+0.29%), CAC 40 (+0.20%), Dax (+0.30%) and the UK markets (+0.50%) all posted gains in early trading. H&M climbed +2.4% after saying sales jumped 17% in July which beat analysts’ estimates. ThyssenKrupp added +0.9% and Salzgitter advanced +0.5% after HSBC upgraded the stocks to “neutral” from “underweight”, after ThyssenKrupp said that quarterly profit almost tripled and Salzgitter’s earnings were better than analysts’ had projected. SVG slid -6% after Permira sold 12 million shares. Johnson Matthey Plc rose +1.2% after Goldman Sachs Group Inc recommended buying the stock. New World Resources Plc lost -5.2% after saying it won’t make a payment on some bonds.
US stocks rose as speculation the crisis in Ukraine won’t escalate overshadowed weaker than estimated economic employment data. The Dow Jones Industrial Average (+0.37%), S&P 500 (+0.43%) and the Nasdaq Composite (+0.43%) all increased. Kohl’s Corp added +3.3% after quarterly results beat estimates. Wal-Mart Stores Inc gained +0.5% after reporting stagnant same store sales and lowering its profit forecast. Cisco Systems Inc declined -2.6% after forecasting little to no sales growth. Perrigo Co added +7.3% for the biggest advance in the S&P 500 after it reported adjusted fourth quarter earnings that topped estimates. Avago Technologies Ltd jumped +2.6% after agreeing to sell it Axxia networking business to Intel Corp for $650 million.
Asian stocks fluctuated as investors weighed earnings, Ukraine developments and economic data that fuelled bets central banks will maintain stimulus. The Nikkei 225 (+0.02%), Hang Seng (+0.69%) and S&P/ASX 200 (+0.33%) all advanced. Parkson Retail Group Ltd soared +15% in Hong Kong after first half profit beat estimates. James Hardie Industries Plc slumped -7.2% after reporting profit plunged. BHP Billiton Ltd gained +2.3% in Sydney as the world’s biggest mining company said it may announce a spinoff of assets next week. China Mobile Ltd climbed +5.2% as it said it will cut $2 billion from device subsidies. Keikyu Corp added +2.9% after the Nikkei newspaper reported the company aims to enter casino management in Japan as a bill to legalise casino’s continues to be discussed.
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.