European stocks rose a second day, as minutes from the latest Federal Reserve meeting showed policy makers expect the inflation rate to remain below their target, and as Chinese manufacturing data beat estimates. The ESTX 50 (+0.03%), UK Markets (+0.28%), CAC 40 (+0.14%) and the DAX (+0.31%) all posted gains in early trading. Raiffeisen advanced +3.9% after reporting first quarter net income that exceeded the average analyst estimate in a Bloomberg survey. Vivendi rose +0.7% after it was reported that it plans to sell 41.5 million shares in Activision by May 28th under an existing agreement. Royal Mail declined -5.6% after posting full year pre-tax profit that missed the average analyst estimate. Royal Dutch Shell Plc’s A shares gained +1.7% after the company cancelled its scrip dividend program, enabling shareholders to take part in buybacks without having to pay the Dutch withholding tax. SABMiller Plc added +3.8% after saying full year earnings increased.
US stocks rose while treasuries and gold fell as Federal Reserve meeting minutes were released. The Dow Jones Industrial Average (+0.97%), S&P 500 (+0.81%) and the Nasdaq Composite (+0.85%) all advanced. Tiffany gained +9.2% to lead an advance among retailers as quarterly profit beat estimates. Netflix Inc rose +5.1% after saying it will expand its online-video service in Europe. TJX Cos rallied +4.9% after tumbling -7.6% in the previous session after posting first quarter profit and sales that trailed analysts’ estimates. Exxon Mobil advanced +1.4% and Chevron increased +1.4% to pace gains among energy companies. Occidental Petroleum Corp surged +2.2%. West Texas Intermediate crude rose to a one month high after a government report showed US supplies tumbled last week as imports dropped to a 17 year low.
Asian stocks rose after Federal Reserve meeting minutes showed policy makers see a muted risk of inflation from continued US stimulus and as a Chinese manufacturing gauge topped estimates. The Nikkei 225 (+2.11%), Hang Seng (+0.51%) and the S&P/ASX 200 (+1.02%) all advanced. China gas Holdings Ltd jumped +7.6% in Hong Kong after Russia reached a $400 billion supply accord with China. China Resources Gas Group ltd climbed +2.7% in Hong Kong. Sanrio Co slumped -16% in Tokyo on concern about earnings after yesterday’s strategy briefing from the maker of Hello Kitty toys. Raw material firms advanced. Alumina surged +7.1% and Rio Tinto Group climbed +2.6% in Sydney. Zijin Mining Group Co added +1.7% in Hong Kong.
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.