European stocks advanced for a fourth day, extending gains amid a global rally, after jumping the most than three years yesterday. The ESTX 50 (+0.38%), UK markets (+0.66%), CAC 40 (+0.56%) and the Dax (+0.48%) all posted gains in early trading. Atos climbed +6.5% after agreeing to buy Xerox Corp’s information technology outsourcing business for $1.05 billion, almost tripling the company’s business in the US. BHP Billiton Ltd and Anglo American Plc rose more than +1% as gauge of miners rallied for a fourth day. Air France-KLM Group slumped +6.5% after pushing back delivery of some aircraft in the next two years to contain costs following its third profit revision this year. Roche Holding AG slid -6.1% after reporting disappointing results from a clinical trial that combined two if its newer breast cancer drugs, denting hopes of broadening the market for treatments that are already among its fastest growing products.
US stocks rallied the most since 2011 as global equities rallied on the Federal Reserve’s pledge to be patient on boosting rates. The Dow Jones Industrial Average (+2.43%), S&P 500 (+2.40%) and the Nasdaq Composite (+2.24%) all advanced. Microsoft Corp and International Business Machines Corp climbed more than +3.6% to lead gains in the Dow. Oracle Corp climbed +10.2%, a day after quarterly results topped Wall Street expectations. Apple rose +3%. Hertz Global Holdings Inc added +5.8% after shareholder Carl Icahn reported an increased stake in the company. Icahn bought 2.63 million shares on December 15th. Rite Aid Corp surged +12% after quarterly profit and revenue topped analysts’ estimates, helped by an increase in sales of prescription medicines, and the retailer boosted its annual earnings forecast.
Asian stocks advanced amid a global rally. Japanese shares jumped on a weaker yen and Chinese shares surged to a four year high. The Nikkei 225 (+2.39%), Hang Seng (+1.25%) and the S&P/ASX 200 (+2.45%) all gained. Aluminium Corp of China Ltd surged +6.5% in Hong Kong after its chairman resigned and the company said it was planning on selling silicon units. BYD Co advanced +14%, rebounding from a record slump yesterday, after saying Warren Buffett’s Berkshire Hathaway Inc had no plans to reduce its stake in the company. Japanese exporters advanced as the yen weakened. Toyota Motor Corp gained +4.3%. Canon Inc added +1%. Isuzu jumped +4.9% after Morgan Stanley raised its investment rating on the stock to “overweight”. Daiwa Securities Group Inc rose +4.8%, leading brokerages higher. Nomura Holdings Inc rose +3.1%.
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.