European equities climbed this morning, mirroring gains on Wall Street and in Asia, with a rally in commodity related stocks and some encouraging company updates supporting the market. The ESTX 50 (+1.24%), CAC 40 (+1.28%), Dax (+1.13%) and the UK markets (+0.83%) all posted gains in early trading. Anglo American, Glencore, Rio Tinto and BP all rose between +1.2% and +3.9% after key base metals held their gains from the previous session and crude oil advanced following an oil worker strike in Kuwait. L’Oreal rose +4.6% after pledging to outperform the market in 2016 and confirmed its ambition to achieve another year of sales and profit growth after first quarter sales rose more than expected. Associated British Foods Plc rose +1.8% after reporting first half earnings that beat analyst estimates.
US stocks climbed as investors braced for a flurry of corporate earnings reports through the week. The Dow Jones Industrial Average (+0.60%), S&P 500 (+0.65%) and the Nasdaq Composite (+0.44%) all increased. A recent rebound in oil and signs that the US economy is slowly improving has helped stocks rally from a steep selloff earlier this year. Chevron added +1.51% as crude oil prices steadied from earlier losses caused by the collapse of talks among major producers to tackle a stubborn global surplus. Netflix sank -12% in extended trading after its first quarter report disappointed investors. Walt Disney rose +2.93% after Jungle Book dominated the weekend box office, grossing more than $100 million. Hasbro jumped +5.79% after reporting better than expected quarterly profit and revenue.
Asian stocks rose, following US shares higher as crude oil advanced for the first time in five days. Japanese shares rebounded from yesterday’s rout on speculation the central bank may boost stimulus in the wake of the recent earthquake. The S&P/ASX 200 (+1.01%), Hang Seng (+1.26%) and the Nikkei 225 (+3.68%) all advanced. Shares of Japanese companies which halted operations after the earthquake partially recovered yesterday’s losses. Renesas Electronics Corp rose +6.8% and HIS Co added +5.4% after dropping -12% yesterday. Sony surged +6.5% as concerns eased about its plant closing in the area. Honda Motor Co jumped +4.5% and Mazda Motor Corp rallied +7.2% as the yen weakened amid speculation the BOJ may boost stimulus to combat economic fallout from the quake.
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.