European stocks advanced after the IMF said it raising its growth outlook for the US economy. The ESTX 50 (+0.04%), UK Markets (+0.41%), CAC 40 (+0.02%) and the DAX (+0.36%) all posted gains in early trading. Lanxess AG rose +2.2% after the company’s CEO said the company will reach its full year forecast for earnings. Swatch Group AG increased +0.8% after the company won an arbitration award of 402 million Swiss francs from Tiffany & Co. ARM Holdings Plc increased +2.6% as Apple struck a deal to sell the iPhone through China Mobile Ltd. Dialog Semiconductor Plc rose +2% and Imagination Technologies Group Plc jumped +5.2%. Carnival Plc (+2.39%), Mondi Plc (+1.72%) and Royal Mail Plc (-1.44%) were notable movers in the UK this morning.
US stocks rose as data showing faster than estimated growth boosted confidence in the world’s largest economy. The Dow Jones Industrial Average (+0.26%), S&P 500 (+0.48%) and the NASDAQ Composite (+1.15%) all advanced. Red Hat Inc surged +14% after raising its full year profit and sales forecasts. Responsys Inc jumped +40% as Oracle Corp agreed to buy company for $1.5 billion in cash. BlackBerry Ltd surged +16% after striking a five year deal with Foxconn Group to manufacture its devices, following another quarterly plunge in sales and mounting losses. The deal lets BlackBerry offload more of the costs of its unprofitable manufacturing operations, helping it focus on corporate software and services. Fastenal Co slumped -5% after saying it expects to miss analysts’ estimates for Q4 earnings because of slower than expected sales growth.
Asian stocks rose after data showed faster than estimated economic growth in the US and the IMF said its raising its outlook for the world’s largest economy. The Nikkei 225 (+0.07%), Hang Seng (+0.48%) and the S&P/ASX 200 (+0.51%) all gained. Hyundai Merchant Marine Co surged +15% in Seoul after Hyundai Group said it plans to sell assets including financial units and its hotel business for at least 3.3 trillion won. Echo Entertainment Group Ltd advanced +6.1% in Sydney after a managing director of its Star casino resigned. China Mobile Ltd added +0.8% in Hong Kong after striking a deal with Apple Inc to sell the iPhone in the world’s largest wireless market. Newcrest Mining Ltd fell -2.1% in Sydney after reporting that shareholder class action proceedings may be initiated about the gold producer’s disclosure practices.
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.