European stocks climbed as markets re-opened after a four day break. The ESTX 50 (+0.65%), UK markets (+0.92%), CAC 40 (+0.72%) and the DAX (+1.10%) all posted gains in early trading. GlaxoSmithKline Plc rose +4.4% after agreeing to sell its cancer business to Novartis AG for as much as $16 billion. Novartis AG gained +2.7%. Health companies were the best performing stocks in Europe this morning with Shire Plc advancing +4.9% and AstraZeneca Plc jumping +7.9%. Royal Philips NV slid -6.2% after posting first quarter profit that missed analysts’ projections. Schindler Holding AG increased +1.2% after saying first quarter revenue rose 8.8%. Accor SA declined -1.3% after saying first quarter revenue fell to €1.14 billion, which was less than analysts’ projections.
US stocks rose on signs earnings are improving. The Dow Jones Industrial Average (+0.25%), S&P 500 (+0.38%) and the Nasdaq Composite (+0.64%) all advanced. Netflix gained more than +6% after markets closed as it reported better than projected sales, profit and subscriber growth. Allergan Inc soared +12% in extended trading after a media report that New York hedge fund manager Bill Ackman and Valeant Pharmaceuticals International Inc are teaming up to bid for the company. Newmont Mining Corp advanced +6.4% as it discussed a possible merger with Barrick Glod Corp. Halliburton Co climbed +3.3% after forecasting profit growth for the second quarter. Athenahealth Inc fell -6.9% after reporting quarterly earnings that missed projections.
Asian stocks swung between gains and losses as energy producers advanced, while China Resources Power Holdings Co led declines amid a graft investigation. The Nikkei 225 (-0.85%) declined, Hang Seng (+0.04%) and the S&P/ASX 200 (+0.46%) both posted small gains. China Resources Power plunged -9.9% in Hong Kong after China’s anti-corruption agency said it’s probing the chairman of the company’s parent. Great Wall Motor Co dropped -6.27% after first quarter earnings disappointed Deutsche Bank AG. Bharat Petroleum Corp climbed -4.3% in Mumbai to pace gains among energy producers.
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.