European stocks rose amid optimism global central banks will stay supportive of growth. The ESTX 50 (+1.11%), CAC 40 (+0.98%), Dax (+0.93%) and the UK markets (+0.47%) all posted gains in early trading. European equities have swung between losses and gains in recent sessions amid mixed economic data and worries that central banks may be less willing to boost stimulus measures. Banco Santander SA rose +3.4% after a report it ended talks with Royal Bank of Scotland to buy Williams & Glyn. Inditex SA climbed +0.9% after reporting earnings that beat analysts’ estimates. Eurofins Scientific SE rose +3.9% after raising its 2016 profit target and said it’s on track to meet its 2020 objectives.
US stocks were little changed as healthcare gains countered declines in energy shares, a day before highly anticipated outcomes of monetary policy meetings in the United States and Japan. The Dow Jones Industrial Average (+0.05%), S&P 500 (+0.03%) and the Nasdaq Composite (+0.12%) all registered small increases. Allergan shares fell -2.7% after saying it would pay up to $1.7 billion to buy Tobira Therapeutics, which is developing therapies for NASH, an incurable fatty liver disease. Tobira shares soared more than +700%. Gilead Sciences which is also developing drugs for NASH, rose +3.5% and gave the biggest boost to the S&P and the Nasdaq. Wells Fargo rose +1.2% after the bank’s CEO weathered criticism as he testified before a US senate panel.
Asian stocks rose after tweaks to the Bank of Japan’s monetary policy caused a surge in Japanese equities and preserved investment flows to regional markets. The S&P/ASX 200 (+0.68%), Hang Seng (+0.59%) and the Nikkei 225 (+1.91%) all increased. Mitsubishi UFJ Financial Group Inc jumped +7.4% in Tokyo, pacing gains among Japanese banks after the central bank decided to target the bond yield curve and refrain from deepening negative interest rates, easing concern that monetary policy will continue to erode their profits. HTC Corp surged +6% in Taipei amid speculation new smartphone models will boost earnings. China State Construction International Holdings Ltd advanced +9.2% in Hong Kong after Goldman Sachs Group Inc added the stock to its conviction buy list.
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.