European stocks gained as investors awaited a Federal Reserve meeting starting tomorrow to gauge the timing of stimulus cuts. The ESTX 50 (+0.45%), FTSE 100 (+0.23%), CAC 40 (+0.24%), DAX (+0.31%) all posted gains in early trading. Hennes & Mauritz AB climbed +2.7% after reporting that same store sales rose 10%. Aurubis AG slipped -0.8% after reporting a full year net loss. Aggreko Plc gained +4.9% after saying net debt will decline. Deutsche Telekom AG advanced +3.59% after a report that Sprint Corp is considering a bid for its unit T-Mobile US Inc. GlaxoSmithKline Plc was up +0.16% after saying it plans to raise its stake in its Indian Pharmaceutical unit to up to 75% from 50.7% through an open offer in a deal worth about £629 million.
US stocks were little changed with losses in oil producers and phone shares offsetting gains after the House of Representatives passed a budget deal. The Dow Jones (+0.10%), S&P 500 (-0.01%) and the NASDAQ Composite (+0.06%) all posted small changes before closing for the weekend. Adobe Systems Inc climbed +13% as it attracted more subscribers to its online software in the quarter than some analysts predicted. Texas Industries Inc jumped +14% as people familiar with the matter said it is seeking a buyer. Anadarko Petroleum Corp fell -6.4%, leading energy stocks lower as a judge ruled the company may have to pay as much as $14 billion in a case related to the spinoff of Tronox Inc. Electronic Arts Inc increased +6% after NPD Group Ltd said US sales of video game hardware jumped 58% in November from the prior year.
Asian stocks fell after a gauge of Chinese manufacturing fell and as investors awaited a Federal Reserve meeting starting tomorrow to gauge the timing of stimulus cuts. The Nikkei 225 (-1.62%), Hang Seng (-0.56%) and the S&P/ASX 200 (-0.17%) all declined. Toyota Motor Corp slid -1.9% leading losses among consumer discretionary firms as the yen advanced against the dollar. Senex Energy Ltd sank -8.4% after its $674 million initial takeover proposal for AWE Ltd was rejected by the oil and gas explorer. AWE shares surged +7.2%. Tokyo Electric Power Co gained +1% on a report the government plans to double interest free loans to the utility. Askul Corp tumbled -6.7% in Tokyo after profit at the company dropped 70%. Wumart Stores Inc sank -4.9% after saying plans to buy stores from CP Lotus Corp won’t proceed just two months after the companies announced the deal.
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.