European shares declined ahead of the Federal Reserve’s decision whether or not to raise interest rates later today. The ESTX 50 (-0.21%), UK markets (-0.25%), CAC 40 (-0.30%) and the Dax (-0.10%) all posted losses in early trading. Altice NV added +2.7%, after earlier jumping +13%, as it agreed to buy Cablevision Systems Corp. TeliaSonera AB gained +3.5% after saying it plans to exit Asia and ex-Soviet countries. Rotork Plc plunged -16% after forecasting annual revenue below analysts’ estimates and saying the second half of the year will be challenging. Phoenix Group rose +2.8% after confirming talks to buy Guardian Financial Services.
US stocks rose after a 6% jump in oil prices pushed energy stocks higher. But many investors stayed on the sidelines ahead of the US Federal Reserve’s decision on interest rates. The Dow Jones Industrial Average (+0.84%), S&P 500 (+0.87%) and the Nasdaq Composite (+0.59%) all increased. The energy index led a broad rally for the S&P 500 with a 2.8% increase as crude prices settled up 6% after an unexpected drawdown in US stockpiles. Chevron Corp and Exxon Mobil Corp advanced more than +1.9% each. Hewlett-Packard Co gained +5% amid its plans to cut about 30,000 jobs. FedEx Corp lost -2.8% after cutting its 2016 profit forecast. Molson Coors Brewing Co jumped +14% to a record after Anheuser-Busch InBev NV said it intends to make a bid for Molson’s joint venture partner SABMiller Plc.
Asian stocks rose ahead of the Federal Reserve’s policy decision. The Nikkei 225 (+1.43%) and the S&P/ASX 200 (+0.94%) both increased, while the Hang Seng (-0.55%) declined. BHP Billiton Ltd added +2.8% in Sydney after metals and oil prices climbed. China Resources Enterprise Ltd gained +4.1% as Anheuser-Busch InBev NV’s planned offer to buy the company’s partner SABMiller Plc could help boost sales and yield cost savings in China. Omron Corp climbed +4.4% in Tokyo after saying it will Adept Technology Inc.
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.