European stocks rallied as Scotland voted to reject independence from the UK. The ESTX 50 (+0.56%), CAC 40 (+0.38%), Dax (+0.57%) and the UK markets (+0.57%) all posted gains in early trading. Lloyds rose +2.3%, while Royal Bank of Scotland gains +4%. Both banks said they would shift their domicile out of Scotland if the country voted for independence. Aggreko Plc climbed +1.6% while Babcock International Group Plc increased +3.1%. Vivendi advanced +1% after saying it will sell GVT for €4.66 billion in cash, a 7.4% in the combination of the companies Brazilian businesses and a 5.7% stake in Telecom Italia SpA. SAP retreated -1.8% after agreeing to pay $129 a share for Concur, a 20% premium over the September 17th closing price, in a deal valued at about $7.4 billion. The deal gives SAP a developer of software that helps businesses manage travel expenses.
US stocks rose as employment data boosted optimism in the economy. The Dow Jones Industrial Average (+0.64%), S&P 500 (+0.49%) and Nasdaq Composite (+0.68%) all increased. ConAgra increased +4.6% after reporting earnings that exceeded the average analyst estimate. AOL Inc jumped +3.3% after a strategist at BGC Financial LP said investors should position themselves for gains in the stock. Kohl’s added +1.6% after the stock was raised to “buy” from “neutral” at Citigroup. MSCI Inc climbed +5.8% after increasing its share buyback plans. Rite Aid dropped -19% after saying net income for 2015 was expected to be less than previously forecast. CME Group Inc gained +2.8%. Citigroup Inc and Prudential Financial Inc both jumped more than +2.4%.
Asian stocks rose as fewer Americans filed for jobless claims, the yen held at a six year low against the dollar and Scotland voted to reject independence. The S&P/ASX 200 (+0.32%), The Hang Seng (+0.80%) and the Nikkei 225 (+1.58%) all advanced. Japanese exporters climbed with Honda rising +1.2% and Canon Inc gaining +1.4%. IHI jumped +5.1% after Credit Suisse raised its rating on the stock to “outperform” from “neutral” and increased its price target forecast to 600 yen from 450 yen. Alacer soared +11% and OceanaGold gained +3.1%. OceanaGold whose approaches to Alacer began in February, said it is in talks with Alacer and would only be willing to pursue a deal with the cooperation of the Alacer board.
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.