European shares climbed higher in early trading, with encouraging updates from several companies. The ESTX 50 (+1.57%), UK markets (+1.68%), CAC 40 (+1.79%) and the Dax (+1.46%) all posted gains this morning. Randstad rose +7.5% after saying sales had accelerated since it reported third quarter results and that it expected higher margins in 2016. United Internet was up more than +4% after reporting a rise in third quarter core profit and revenues as the numbers of subscribers continued to rise. European stocks dealing in defence and military sectors also rose, as France launched new strikes on targets in Syria. BAE Systems rose +1.2%, Airbus advanced +1.9% and Meggitt progressed +1.3%.
US stocks gained as investors bet Friday’s attacks in Paris would have little long term impact on the US economy and corporate earnings. The Dow Jones Industrial Average (+1.38%), S&P 500 (+1.49%) and the Nasdaq Composite (+1.15%) all advanced. US oil prices rose after French air strikes in Syria in reaction to multiple attacks in Paris on Friday. Exxon’s shares jumped +3.58% and Chevron rallied +4.38%. Companies linked to travel and leisure took a hit. American Airlines dropped -1.43%, United Continental -1.22% and Delta Airlines -2.16%. Cruise operator Carnival Corp fell -1.53%, while travel company Expedia was down -2.13%. Warren Buffett told CNBC he was not selling any securities as a result of the attacks.
Asian stocks followed US shares higher as a weakening yen boosted Japanese equities and concern eased from the attack in Paris. The Nikkei 225 (+1.22%), Hang Seng (+1.15%) and the S&P/ASX 200 (+2.29%) all rallied. Toyota Motor Corp, which gets 78% of sales outside Japan, climbed +1.8%. Mazda Motor Corp, which gets 20% of its revenue from Europe, jumped +3.6%. Westpac Banking Corp climbed +1.9% and Commonwealth Bank of Australia advanced +3.1%. Citic Securities rose +2.1% after saying that it plans to select a new chairman. JFE Holdings jumped +6.8%, while Nippon Steel & Sumitomo Metal Corp rose +3.5%.
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.