European stocks rose as a rally in energy companies pushed up equities, extending their biggest advance in more than two years. The ESTX 50 (+0.62%), UK markets (+0.76%), CAC 40 (+0.73%) and the Dax (+0.64%) all posted gains in early trading. Afren Plc jumped +16% after confirming it received an early approach from Seplat Petroleum Development Co. Indra Sistemas SA climbed +2.6% after Spanish newspaper El Mundo reported Antonio Hernandez Mancha is in talks with the government to buy a 20% stake in the company for British fund Hanson. Roche Holding AG added +1.3% after one of its products was approved in Switzerland to treat cervical cancer. Delta Lloyd NV fell -5.4% after saying the Dutch central bank ordered it to dismiss its CFO by 2016 and fined the insurer for allegedly acting contrary to its risk policy using confidential information when it cut interest rate hedges in 2012.
US stocks advanced last week as the Federal Reserve sparked a three day rally that nearly wiped out two weeks of equity pain. The Dow Jones Industrial Average (+0.15%), S&P 500 (+0.46%) and the Nasdaq Composite (+0.36%) all posted gains before closing for the weekend. Exxon Mobil Corp and Chevron Corp climbed +8.1% and 10% respectively, for the weeks biggest gains in the Dow. The two companies dropped more than 7.7% in the previous week. Oracle Corp rose +15%, the most in 12years, as efforts to push deeper into web-based cloud computing helped fuel fiscal second quarter profit and sales that surpassed analysts’ estimates. Boeing Co, 3M Co and CVS Health Corp added at least +4.5% as each one increased their quarterly dividend. Boeing and CVS announced stock buyback plans. FedEx Corp dropped -0.9%after reporting a lower quarterly benefit from declining fuel prices than some analysts expected and failing to boost its full year profit outlook.
Asian stocks rose as commodity shares climbed on a rally in crude prices. The Nikkei 225 (+0.08%), Hang Seng (+1.26%) and the S&P/ASX 200 (+1.94%) all advanced. BHP Billiton Ltd climbed +3% in Sydney. Showa Shell Sekiyu KK surged +28% in Tokyo after saying it was holding talks with Idemitsu Kosan Co for a possible tie up. Haitong Securities Co fell -1.9% in Hong Kong after saying it plans to raise $3.9 billion selling shares in a private placement. Inpex Corp added +5.2%. Cosmo Oil Co jumped +19% after saying it sees potential savings of 10 billion yen from a venture agreement. Marubeni Corp, a trading house that gets about 28% of its sales from energy, advanced +3.4%. Japan Airlines Co sank -1.7%. Chugai Pharmaceutical Co lost -4.4% after Roche Holding AG, which owns 60% of the company, reported disappointing test results for a breast cancer treatment.
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.