European stocks advanced after the World Bank raised its global growth forecast. The ESTX 50 (+0.48%), UK Markets (+0.39%), CAC 40 (+0.51%) and the DAX (+0.88%) all posted gains in early trading. Burberry Group Plc gained +0.6% after posting quarterly revenue that topped analysts’ estimates. Banca Monte dei Paschi di Siena SpA rose +1.9% after saying CEO Fabrizio Viola will remain at the bank after the board rejected his offer to resign following a conflict with the biggest shareholder. Hennes & Mauritz AB climbed +1.7% after posting a 10% increase in total sales in December, beating analyst estimates. Anglo American Plc rose +3.8% after UBS AG advised buying the shares. Hargreaves Lansdown Plc dropped -3.2% after revising its pricing and saying it must garner £3.5 billion of new assets over three years to compensate for the change.
US stocks rose while Treasuries retreated as retail sales climbed more than economists predicted in December. Dow Jones Industrial Average (+0.71%), S&P 500 (+1.08%) and the NASDAQ Composite (+1.69%) all increased. Time Warner Cable Inc climbed +2.7% after the company rejected an acquisition offer from Charter Communications Inc. Intel Corp and Jabil Circuit Inc paced gains among technology companies, rising at least +3.9% as analysts upgraded their stock. Intuitive Surgical Inc rallied +6.8% after sales beat analysts’ estimates. JPMorgan and Wells Fargo both gained +0.1% after reporting fourth quarter results. Bank of America Corp, Citigroup Inc and Goldman Sachs Group Inc are also set to report earnings this week. Analysts’ estimates suggest that earnings for companies in the S&P 500 probably climbed an average 4.9% in the fourth quarter, while sales probably increased 1.8%.
Asian stocks rose after US retail sales topped estimates and the World Bank raised its global growth forecast. The Nikkei 225 (+2.50%), Hang Seng (+0.49%) and the S&P/ASX 200 (+0.64%) all advanced. Toyota Motor Corp, a company that gets 31% of its revenue from North America, added +1.5%. OZ Minerals Ltd jumped +14% after Morningstar Inc said the copper producer may see earnings rise. Anhui Conch Cement Co soared +5.9% in Hong Kong after saying it expects 2013 profit to surge about 50%. Hitachi Ltd rose +4.1% after Nomura Holdings Inc said the company may report record third quarter profit.
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.