European stocks gained on growing optimism over a resolution to Greece’s crisis and amid deals activity. The ESTX 50 (+0.75%), UK markets (+0.51%), CAC 40 (+0.72%) and the Dax (+0.66%) all posted gains in early trading. OCI NV rallied +11% after CF Industries Holdings Inc said it’s in preliminary talks about a combination with certain businesses of OCI. Aveva Group Plc jumped +29% after Schneider Electric SE agreed to merge its software business with the UK company. Julius Baer Group Ltd slipped -2.5% after saying first half profit declined after the bank took a provision to settle a tax dispute with the US. Royal Dutch Shell Plc and BG Group Plc rose more than +2%, pacing gains among European Oil and Gas shares. HSBC Holdings Plc rose +1% after Citigroup Inc recommended buying the shares.
US stocks advanced as Google pushed the Nasdaq to a second straight record high on Friday while weak energy stocks weighed on the Dow. The S&P 500 (+0.11%) and the Nasdaq Composite (+0.91%) both increased, while the Dow Jones Industrial Average (-0.19%) decreased. Google surged +16.26% to end at an all-time high of $699.62, a day after reporting strong ad revenue growth. It was Google’s largest one-day percentage gain since April 2008. Facebook rose +4.53% on hopes it could mirror Google’s ad growth. Etsy spiked +30% thanks to a nod from Google during its conference call. A drop in oil prices limited gains on the broader market. Chevron lost -1.4%. Boeing fell -1.11% and was the biggest drag on the Dow after it said it will take a second quarter charge related to problems with its KC-46 refuelling tanker aircraft program.
Asian stocks followed Wall Street higher, but gains were capped as investors refrained from taking big positions. The Nikkei 225 (+0.25%), Hang Seng (+0.02%) and the S&P/ASX 200 (+0.30%) all increased. Santos Ltd fell -1.6% in Sydney after Brent futures extended losses. Newcrest Mining Ltd sank -10% after gold tumbled to its lowest level since 2010. Innolux Corp slid -6.3% in Taipei after Citigroup Inc downgraded its rating on the supplier of screens to Apple Inc. Daewoo Shipbuilding & Marine Engineering Co dropped -6.6% in Seoul.
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.