European stocks advanced as concern abated that the UK will exit the European Union. The ESTX 50 (+1.33%), CAC 40 (+1.15%), Dax (+1.06%) and the UK markets (+1.06%) all posted gains in early trading. Campaigns on whether the UK should leave or stay in the EU were suspended after Labour Party member Jo Cox, who backed “Remain”, was murdered while she met constituents in her electoral districts. Randgold Resources Ltd, which had benefited from investor demand for gold as a haven in the past two days, declined -4.5%. Ericsson AB lost -1.5% after saying it received a request from US authorities in 2013to answer questions relating to its operations. A report earlier said the company is being investigated on suspicion of corruption.
US stocks rose as investors digested the implications of a British politicians death on the country’s impending referendum on whether to leave the European Union. The Dow Jones Industrial Average (+0.53%), S&P 500 (+0.31%) and the Nasdaq Composite (+0.21%) all increased. Merck shares rose +2.5%, propping up the Dow and S&P, after positive clinical trial results for cancer treatment Keytruda. Cavium fell -17.5% after saying it would buy QLogic for about $1.36 billion. QLogic shares rose +9.3%. Jabil Circuit Inc rose +1.9%, erasing earlier losses after the Apple Inc supplier released a weak outlook for the fourth quarter. Apple Inc gained +0.42%.
Asian stocks rose as the yen halted a five day advance while speculation grew that the UK won’t vote to leave the European Union. The S&P/ASX 200 (+0.32%), Hang Seng (+0.66%) and the Nikkei 225 (+1.07%) all advanced. Sumco Corp climbed +5.3% after falling -6.5% in the previous session. And Alps Electric Co added +2.3% after dropping -6.3% on Thursday. Tokuyama Corp surged +6.9% after Mitsubishi UFJ Morgan Stanley Securities Co boosted its target price on the stock, citing a recovery in its finances. Sky Perfect JSAT Holdings Inc sank -5.6% after cutting its profit forecast, citing a delay in a satellite launch.
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.