European were little changed as polls were split over whether UK citizens will vote to stay or leave the European Union in Thursday’s referendum. The ESTX 50 (+0.19%), CAC 40 (+0.10%) and the Dax (+0.18%) all posted gains this morning, while the UK markets (-0.24%) retreated. A Yougov poll for the Times newspaper published late on Monday showed a lead for the “Leave” campaign, while a survey by ORB for the Daily Telegraph indicated the “Remain” camp was ahead. Odds at betting shops are more pronounced, with Oddschecker data showing about a one in four chance the UK will choose to secede. Kion Group AG slid -5.1% after agreeing to buy Dematic for about $2.1 billion. Senior Plc tumbled -16% after the engineering firm said it sees lower revenues for its Flextronics division in the second half of the year.
US stocks rose in relief advance after indications that British voters later this will choose to remain in the European Union. The Dow Jones Industrial Average (+0.73%), S&P 500 (+0.58%) and the Nasdaq Composite (+0.77%) all increased. JD.com rallied +4.6% after Walmart said it would sell its Chinese e-commerce business to JD.com and create a strategic alliance. Walmart shares gained +0.2%. Lending Club Corp gained +2.7% after Chinese billionaire Chen Tianqiao raised his stake in the company, following the recent ouster of founder and CEO.
Asian stocks rose as the yen retreated before testimony by Federal Reserve Chair Janet Yellen. The S&P/ASX 200 (+0.33%), Hang Seng (+0.77%) and the Nikkei 225 (+0.77%) all advanced. Jiangxi Copper dropped -1.1% and Yunnan Copper Co fell -1.4% after copper fell 0.9% in Shanghai following the release of Chinese data that underscored a softening of local demand. Shanghai Jinqiao Export Processing Zone Development Co surged +10% before its shares were suspended amid speculation that its base was the front runner to become Tesla Motors Inc’s Chinese production site.
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.