European stocks advanced as Ukraine and Russia met for talks. The ESTX 50 (+1.26%), CAC 40 (+1.31%), Dax (+1.43%) and the UK markets (+0.65%) all posted gains in early trading. United Internet AG added +3.3% after buying a 10.7% stake in Rocket Internet AG. Rio Tinto Group rose +1.1% as the company is reviewing a controlling stake in a company that owns a deposit with potential copper and gold reserves worth more than $ 60 billion. Neste Oil Oyj fell -2.6% after the Finnish company said one of its refineries will have a lower production. Commerzbank AG advanced +1.1% after Boersen-Zeitung reported that profit margins in Germany’s private banking industry will probably rise. Deutsche Telekom AG added +1.7% after Focus magazine reported that Europe’s largest phone company may buy cable providers such as Tele Columbus GmbH or Primacom AG.
US stocks erased early losses as increasing violence in Ukraine sent oil prices to the biggest increase in a month. The Dow Jones Industrial Average (-0.30%) declined, the S&P 500 (-0.01%) was flat and the Nasdaq Composite (+0.27%) increased. Monster Beverage soared +30% after Coca-Cola agreed to swap some brands and buy a 17% stake in the company for about $2.15 billion, increasing its exposure to the growing energy drink market. Coca-Cola added +1.7% for the biggest gain in the Dow. Applied Materials Inc jumped +6.3% after forecasting sales that may top analysts’ estimates. Vringo Inc plummeted -72% after Google won its bid to overturn a $30.5 million patent infringement verdict. The US Court of Appeals for the Federal Circuit in Washington determined that the Vringo patents in the case were invalid.
Asian stocks fluctuated as health care shares gained while banks slid along with consumer companies. The S&P/ASX 200 (+0.37%) and Nikkei (+0.03%) advanced, while the Hang Seng (-0.12%) declined. Chugai Pharmaceutical Co soared +15% after it was reported that Roche Holding AG is in talks to buy the rest of the company. National Australia Bank Ltd slid -1.4% after saying it will set aside more than £245 million for compensation related to UK insurance and hedging products. Nintendo gained +4% after Mario Kart 8 surpassed 1 million units in sales in the US. Lenovo Group Ltd jumped to a 14 year high in Hong Kong, climbing +1.9%, after International Business Machines Corp cleared a security review of the sale of its low end server business to the Beijing based company.
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.