European stocks fluctuated this morning as investors considered the timing of the next interest rate increase by the Federal Reserve. The ESTX 50 (+0.04%), CAC 40 (+0.04%), Dax (+0.44%) and the UK markets (+0.22%) all posted gains in early trading. Bayer fell -3% after saying it had made an offer to buy Monsanto for $62 billion. Aixtron soared +15% after China’s Fujian Grand Chip Investment Fund agreed to make a €6 per share offer to buy the company. AMS AG and Dialog Semiconductor Plc jumped at least +5% after Taiwan’s Economic Daily News reported that Apple has asked suppliers to prepare production for a new version of the iPhone.
US stocks rallied, led by tech stocks on the back of Applied Material’s strong profit forecast. The Dow Jones Industrial Average (+0.38%), S&P 500 (+0.60%) and the Nasdaq Composite (+1.21%) all increased. Data on Friday showed US home resales rose more than expected in April, suggesting the economy continues to gather pace during the second quarter. Applied Materials jumped +13.8% after announcing a higher than expected profit forecast. Apple rose +1.1%. Deere fell -5.5% after cutting its profit outlook further and reported lower quarterly earnings. Campbell Soup tumbled -6.4% after disappointing sales.
Asian stocks rebounded as Chinese and Taiwanese shares gained while Japanese equities pared a steep loss. The S&P/ASX 200 (-0.60%), Hang Seng (-0.22%) and the Nikkei 225 (-0.49%) all declined but recovered to limit earlier losses. Exports from Japan fell for a seventh consecutive month in April as the yen strengthened, underscoring the mounting challenges to Prime Minister Abe’s efforts to revive economic growth. Overseas shipments dropped 10% while imports declined 23%. Toyota Motor Corp fell -1% and Hino Motors Ltd dropped -1.1%. Henan Shuanghui Investment & Development Co jumped +2.3% and Kweichow Moutai Co added +1.2%.
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.