European stocks posted little changes as Germany’s trade expanded more than estimated and as a drop in Chinese manufacturing spurred speculation of further stimulus. The ESTX 50 (+0.01%), UK markets (-0.13%), CAC 40 (+0.02%) and the Dax (+0.04%) were all fairly flat in early trading. Havas SA gained +2.5% after posting first half revenue of €867 million, exceeding analysts’ projection of €849 million. Iliad fell -1.8% after it was reported that the company has been talking to US buyout firms as well as companies and sovereign wealth funds to improve its bid for T-Mobile. Tesco Plc dropped -1.9% after the Sunday Telegraph reported that Harris Associates cut its stake in the British grocer to 1% from 3%.
US stocks rose amid improving economic data and speculation central banks will continue to spur growth. The Dow Jones Industrial Average (+0.11%), S&P 500 (+0.33%) and the Nasdaq Composite (+0.50%) all advanced before closing for the weekend. Avago Technologies Ltd climbed +7.5% for the biggest gain in the S&P 500 after it reported earnings that topped estimates. Pacific Sunwear of California Inc slid -9.6% after projecting losses in the third quarter that were deeper than analysts’ estimated. Veeva Systems Inc jumped +20% after it boosted its year end earnings prediction and reported second quarter earnings that beat estimates.
Most Asian stocks rose as investors weighed whether Chinese policy makers will add stimulus after reports showing slower manufacturing growth. The Nikkei 225 (+0.34%) and the S&P/ASX 200 (+0.07%) both advanced, while the Hang Seng (-0.03%) was flat. Dongfeng Motor Group Co gained +1.5% in Hong Kong after first half net income increased to 8.51 billion yuan from 5.54 billion yuan a year ago. Hitachi Zosen soared +13% in Tokyo after Mizuho raised its rating on the stock to “buy” from “neutral”, saying orders will boost operating profit growth. Nisshin Steel Co dropped -5% after the company announced plans to raise up to 10.8 billion yen selling treasury shares.
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.