European shares gained this morning continuing a rally that had up to now recouped more than half of the losses from the aftermath of the Brexit vote. The ESTX 50 (+0.23%), CAC 40 (+0.30%), Dax (+0.45%) and UK markets (+0.38%) all posted gains in early trading. The European Central Bank is considering loosening the rules for its bond purchases to ensure enough debt is available to buy. Temenos Group AG climbed +3.9% after saying Standard Chartered Plc will use its wealth management program in more than 30 markets. Deutsche Bank fell -2.7% after the US Federal Reserve said late on Wednesday that its US unit had failed stress tests yet again this year because of poor risk management and financial planning. UniCredit rose +2.3% after picking a new CEO.
US stocks gained as the UK’s central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International’s $23 billion bid for Hershey. The Dow Jones Industrial Average (+1.33%), S&P 500 (+1.36%) and the Nasdaq Composite (+1.33%) all advanced. Adding to positive US economic data from earlier in the week, factory activity in the US Midwest surged to its highest in almost 18 months in June amid strong gains in new orders and production. Hershey shares surged +16.8% after news that Mondelez had made a takeover offer, which Hershey rejected. Mondelez gained +5.9%. Visa fell -3.3% and MasterCard dropped -4.4% after a federal appeals court threw out an antitrust settlement the credit card companies had reached with millions of retailers.
Asian stocks climbed as central banks signalled looser monetary policies to blunt the impact of Britain’s decision to leave the European Union. The S&P/ASX 200 (+0.25%), Hang Seng (+1.75%) and the Nikkei 225 (+0.68%) all increased. Nitori Holdings Co jumped +7.9% in Tokyo after reporting a 31% increase in quarterly operating profit and Nomura Holdings Inc raised its price target. Sysmex Corp climbed +5.3% after raising its stake in Riken Genesis Co as it seeks to expand into genetic research. Newcrest Mining Ltd rose +4.4% in Sydney as gold headed for a fifth weekly advance.
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.