European stocks climbed as investors awaited data that may show German investor confidence rose for the first time this year. The ESTX 50 (+0.49%), UK Markets (+0.20%), CAC 40 (+0.40%) and the DAX (+0.69%) all posted gains in early trading. Shire rallied +3.1% after Reuters reported it is hiring Citigroup as it may receive offers following a spate of deals in the industry. Whitbread rose +3.6% after reporting like-for-like sales at Premier Inn jumped +9.5% in the first quarter, topping analysts’ estimates that predicted an increase of 7%. They rose 4.5% at Costa, exceeding projections of 4%. Renault SA added +1.3% and Daimler AG gained +1.8% after the European Automobile Manufacturers Association said car sales climbed +4.3% in May, with registrations increasing to 1.13 million vehicles from 1.09 million a year earlier. Ashtead Group Plc dropped -4.3% after reporting revenue that missed analysts’ projections. Fresnillo plc retreated -1.9%, Randgold Resources Ltd lost -2% and Polymetal International declined -2.5% as prices for gold, silver and platinum slid
US stocks rose as corporate deals and growth in American manufacturing overshadowed escalating tension in Iraq. The Dow Jones Industrial Average (+0.03%), S&P 500 (+0.08%) and the Nasdaq Composite (+0.24%) all advanced. Covidien Plc surged +20% after Medtronic Inc agreed to buy the Irish company for $42.9 billion. Williams Cos jumped +19% after agreeing to buy control of Access Midstream Partners LP for $6 billion. General Electric Co dropped -0.8% after a group led by Siemens AG made a joint bid to carve up the energy unit of France’s Alstom SA. Yahoo! Inc slid -5.8% after Alibaba Group Holding reported a slowdown in quarterly revenue growth. Home Depot Inc rose +1.1% for the biggest gain in the Dow, as the homebuilder confidence report provided a sign the residential real estate market is stabilising after reeling from severe winter weather earlier this year.
Asian stocks fell after foreign direct investment in the world’s largest economy unexpectedly declined. The Hang Seng (-0.42%) and S&P/ASX 200 (-0.22%) both declined, while the Nikkei 225 (+0.29%) increased. Industrial & Commercial Bank of China Ltd retreated -1.3% in Shanghai and SoftBank Corp fell -2.5% in Tokyo, with financial and telecommunications companies posting the largest declines in the region. Mitsubishi UFJ Financial Group Inc fell -0.8%. Konica Minolta gained +6.2% after JPMorgan raised its rating to “overweight” from “neutral”. New World China Land Ltd plunged -17% in Hong Kong after a $2.4 billion plan by New World Development Ltd to privatise the China property business collapsed.
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.