European stocks rose this morning, helped by stronger energy stocks which gained ground as oil prices surged on the possibility of output cuts. The ESTX 50 (+0.20%), UK markets (+0.24%) and the CAC 40 (+0.23%) all posted gains in early trading, while the Dax (-0.35%) retreated. Anglo American climbed more than +6% after the firm’s underlying earnings did not fall as much as some had anticipated. Vodafone slipped -0.54% after agreeing to combine operations in the Netherlands with Liberty Global, with Vodafone paying €1 billion in cash to Liberty. Orange rose +1.1% after returning to core profit growth a year earlier than planned. Orange added it was still in talks to buy Bouygues Telecom.
US markets were closed for Presidents Day
Asian shares extended gains as a combination of stabilising Chinese markets, rebounding oil prices and solid US consumption data prompted investors to look for bargains after last week’s falls. The Nikkei 225 (+0.20%), Hang Seng (+1.08%) and the S&P/ASX 200 (+1.37%) all increased. SoftBank Group Corp which soared +15.9% after announcing it would buy back as much as 14.2% of its own shares. Citic Securities Co advanced +6.1% in Shanghai after the Securities Times reported that a probe into the brokerage may be over after some mid level employees were allowed to leave the country over this month’s Chinese new year holiday. BOE Technology Group Co surged by the 10% daily limit, while China Cosco Holdings Co rallied +9.9%.
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.