European shares rose this morning, buoyed by Zodiac Aerospace and by media firms, which benefited from merger moves in the United States. The ESTX 50 (+0.78%), CAC 40 (+0.70%), Dax (+0.80%) and the UK markets (+0.27%) all posted gains in early trading. Zodiac Aerospace rose +3% as it benefitted from merger and acquisition activity in its sector, with Rockwell Collins striking a deal to buy B/E Aerospace for $62 a share in cash and stock. ITV was up +2.3% and Sky gained +1.5% after AT&T Inc agreed to buy Time Warner Inc for $85.4 billion over the weekend.
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. The Dow Jones Industrial Average (-0.09%) and the S&P 500 (-0.01%) were pretty flat, while the Nasdaq Composite (+0.30%) gained. Johnson & Johnson and Merck were both down -1.2%, and among the biggest drags on the healthcare sector. Schlumberger weighed on the energy sector as it lost -3% after its quarterly results. But gains in Microsoft and McDonald’s on the back of their strong quarterly reports helped keep losses in check. Microsoft was up +4.3% at a record closing high of $59.69, while McDonald’s was up +3%. Reynolds American jumped +14% after British American Tobacco offered to buy the 58% of the company it does not already own in a $47 billion takeover.
Asian stocks gained but lacked clear direction after Wall Street’s sluggish performance late last week, while the dollar hit a near nine year high as comments from a Federal Reserve official boosted bets of a rate hike by year end. The S&P/ASX 200 (-0.40%) declined, while the Hang Seng (+0.98%) and the Nikkei 225 (+0.29%) both increased. Nanjing Panda Electronics plunged -16.9% after saying it had scrapped a restructuring plan aimed at improving profitability. Nintendo slid -4.8% after the Nikkei newspaper reported the group is likely to post a 5 billion yen operating loss for the first half of the fiscal year, against a 3 billion yen gain estimated by analysts. Astellas rose +3.5% after the Nikkei newspaper reported first half operating profit for the company increased 20%.
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 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.
Morning Spread 26th September 2016 Asian shares declined following losses on Wall Street as investors attention turned from central banks to American politics ahead of the first US presidential debate.