European stocks advanced amid speculation that the ECB will announce a plan for quantitative easing this week. The ESTX 50 (+0.52%), UK markets (+0.25%), CAC 40 (+0.74%) and the Dax (+0.27%) all posted gains in early trading. Royal Philips NV gained +3.5% as Financieele Dagblad reported that private equity KKR & Co and CVC Capital Partners Ltd have a joint interest in the company’s lighting unit. Novozymes A/S climbed +4.7% after fourth quarter profit exceeded estimates. Deutsche Lufthansa AG gained +2.9% as Barclays Plc recommended buying the shares. SAP SE dropped -3.8% after cutting its 2017 profit target. Petrofac Ltd climbed +5.4% after a consortium including the company won a $4 billion project in Kuwait. Unilever dropped -1.4% after posting quarterly sales growth that trailed analysts’ estimates. Rio Tinto Group slipped -1% after fourth quarter iron ore production missed estimates.
Asian stocks rose as Chinese equities rebounded and investors awaited the outcome of central bank policy meetings. The Dow Jones Industrial Average (+1.10%), S&P 500 (+1.34%) and the Nasdaq Composite (+1.39%) all advanced. Toyota Motor Corp climbed +2.6% as the yen weakened. Kobe Steel Ltd rose +5.2% after Credit Suisse Group AG raised its share price target. Citic Securities Co rallied +5.9% in Hong Kong after slumping a record -16% in the previous session. Kingsoft Corp gained +8.2% after Xiaomi Corp agreed to raise its stake in the software vendor. Japan Exchange Group Inc gained +3.4% after raising its full year profit.
US markets were closed due to a national holiday.
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.