European stocks rallied with crude oil and gold. The ESTX 50 (+0.13%), UK markets (+0.16%) and the CAC 40 (+0.30%) all advanced in early trading, while the Dax (-0.01%) was flat. Construction based companies were some of the biggest contributors to the gains in Europe. Balfour Beatty Plc gained +2.9%, CRH Plc added +1.8% and Sika AG rose +2.9%. OC Oerlikon AG added +2.9% after saying it has agreed to sell its Advanced Technologies unit. Banca Monte dei Paschi di Siena SpA rose +1.4% after falling 15% in the previous four sessions as the bank prepares to tap investors for a second time in a year after failing stress tests. Nutreco NV dropped -5% after Cargill Inc pulled out of the race to acquire the company. Wm Morrison Supermarkets Plc rose +2.1%. Reckitt Benckiser Group Plc gained +1.2% after the separation of its pharmaceutical division Indivior. ARM holdings Plc and Smiths Group Plc climbed more than +1.5%.
US equities closed at records as a surge in technology shares helped US stocks recover from a selloff in early December. The Dow Jones Industrial Average (+0.87%), S&P 500 (+0.38%) and the Nasdaq Composite (+0.34%) all advanced. Facebook Inc and Intel Corp rose more than +1.9% to pace gains among technology shares. Twitter Inc and Amazon.com Inc both climbed at least +2.2%. Facebook jumped +2% and Google Inc added +2.4%. Priceline Group Inc climbed +3.6%, while Pandora Media and Expedia Inc increased more than +1.4%. Biogen Idec Inc and Eli Lilly & Co lost more than -1.3%. Energy companies in the S&P 500 fell as the price of crude oil declined for the second time in three days. Cheseapeake Energy Corp and Southwestern Energy Co slid more than -5.4%, while Transocean Ltd decreased -1.8%.
Asian stocks fell as commodity shares slumped. The Hang Seng (-0.32%) and the S&P/ASX 200 (-1.12%) both decreased, while the Nikkei 225 (+0.08%) increased. BHP Billiton Ltd dropped -3.5% in Sydney after capping its biggest four day rally since October 2011 in the previous session. Zijin Mining Group Co dropped -2.7% in Hong Kong after its controlling shareholder reduced its stake in China’s No1 gold producer. Hyundai Merchant Marine Co tumbled -6.2% after saying it plans to sell 238 billion won of new shares.
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.