European stocks advanced after several companies posted earnings. The ESTX 50 (+0.41%), UK markets (+0.45%), CAC 40 (+0.30%) and the Dax (+0.90%) all posted gains in early trading. A.P.Moeller-Maersk A/S jumped +4% after raising its full year profit forecast. Imperial Tobacco Group added +1.7% after reporting a smaller decline than analysts had predicted. ThyssenKrupp AG advanced +1.9% following a report that it plans to dispose of some businesses. AstraZeneca Plc gained +1.2% after saying the US Justice Department closed an investigation into its Plato trial, which compared its blood thinning drug Brilinta with Sanofi and Bristol-Myers Squibb Co’s Plavix. Sixt SE advanced +4.5% after saying second quarter earnings rose from a year earlier.
US stocks rose as tensions eased over global conflicts. The Dow Jones Industrial Average (+1.06%), S&P 500 (+0.85%) and the Nasdaq Composite (+0.97%) all advanced. Dollar General surged +12% after offering $9.7 billion for Family Dollar, which rallied +4.9%. Achillion Pharmaceuticals Inc advanced +3.1% after Deutsche Bank raised the stock to “buy” from “hold”. Delta Air gained +2.5% while Southwest Airlines added +3.6% as Brent crude slid -1.8% to a 14 month low. Lennar Corp increased +1.7% and D.R.Horton Inc jumped +1.4% after a report showed confidence rose in August, indicating the industry is making more headway after weakness earlier this year. Monster Beverage Corp lost -5.4%, the most in the S&P 500, after Jefferies Group LLC downgraded the stock to “hold” from “buy”, saying it was fully valued.
Asian stocks rose after confidence in the US housing industry climbed to the highest level in seven months and tensions eased over global political conflicts. The Nikkei 225 (+0.83%), Hang Seng (+0.65%) and the S&P/ASX 200 (+0.66%) all advanced. Amcor Ltd climbed +4.6% in Sydney after posting earnings that topped analyst estimates. Don Quijote Holdings Co sank -3.7% in Tokyo after forecasting little change in profits. Dick Smith Holdings Ltd surged +8.8% in Sydney after saying it will open about 20 stores next year. China Medical System Holdings Ltd surged +7% in Hong Kong after saying net income in the first half climbed 31% from a year earlier. Terumo climbed +3.5% in Tokyo after Credit Suisse upgraded the shares to “outperform” from “neutral”, citing an expected improvement in profit margins at its hospital business as costs are cut.
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.