European stocks rose this morning, led by gains in commodity producers. The ESTX 50 (+0.99%), CAC 40 (+1.09%), Dax (+1.09%) and the UK markets (+0.89%) all posted gains in early trading. Anglo American Plc and BHP Billiton Ltd added +1.5% or more, following metal prices higher. Iliad SA rose +1.5% after reporting an increase in sales for the first quarter. Taylor Wimpey Plc climbed +4% after the company said it plans to pay a special dividend in July 2017 and increase its regular pay-out as it generates excess cash. Vodafone Group Plc gained +2.1% after reporting quarterly sales growth on its network that beat estimates.
US stocks rallied, helped by a jump in Apple shares and gains from energy stocks that were backed by stronger oil prices. The Dow Jones Industrial Average (+1.00%), S&P 500 (+0.98%) and the Nasdaq Composite (+1.22%) all increased. Apple shares rose +3.7% after Berkshire Hathaway reported a stake worth about $1 billion in the company. The S&P energy sector gained +1.6% as oil prices hit six month highs. Crude prices were supported by worries about global supply outages and as long time bear Goldman Sachs sounded more positive on the market. Anacor Pharmaceuticals soared +57.2% after Pfizer said it would buy the company in a deal valued at $5.2 billion. Tribune Publishing climbed +22.8% after Gannett raised its buyout offer to $15 per share. Gannett closed up +2.2%.
Asian stocks climbed, tracking gains in US equities after Berkshire Hathaway disclosed a stake in Apple and oil companies climbed on higher crude prices. The S&P/ASX 200 (+0.69%), Hang Seng (+1.18%) and the Nikkei 225 (+1.13%) all rose. Japanese exporters rose as the yen stabilised. Komatsu Ltd rising +3.2%. Kikkoman Corp, a company that gets about 40% of revenue from North America, added +1.6%. Inpex Corp rose +3.2% and JGC Corp climbed +3.2% as the price of crude increased. Mitsubishi UFJ Financial Group Inc rose +1.3% as a plan to buy back as much as 1.67% of its own shares outweighed a profit forecast that missed analyst estimates.
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.