European shares rose this morning after Ryanair issued a bullish outlook and reports emerged of bid interest in William Hill. The ESTX 50 (+0.49%), CAC 40 (+0.51%), Dax (+0.74%) and the UK markets (+0.25%) all posted gains in early trading. Ryanair rose +5.5% after saying it remained on track for its highest ever profit this year, although it also warned it may yet have to review guidance since Brexit had created huge uncertainty. William Hill jumped +9.4% after 888 Holdings and Rank Group said they were joining forces with a view to making a bid for William Hill. Ericsson AB increased +5.3% after its CEO stepped down after more than six years at the helm of the company.
US stocks rose, boosted by strength in telecom companies AT&T and Verizon and a US manufacturing report that came in above expectations. The Dow Jones Industrial Average (+0.29%), S&P 500 (+0.46%) and the Nasdaq Composite (+0.52%) all increased. AT&T climbed +1.4% after its results. Verizon rose +1.3% after Reuters reported that the company is the front runner for Yahoo’s core business. Yahoo closed +1.4%. GE shares slid -1.6% after reporting weak demand for oil, gas and transportation equipment. Honeywell fell -2.6% after the diversified manufacturer lowered its full year sales forecast.
Asian shares held near nine month highs as assurance from policymakers on the need to boost growth quelled worries over the impact of Britain’s Brexit vote. The S&P/ASX 200 (+0.64%) and the Hang Seng (+0.13%) both gained, while the Nikkei (-0.04%) was pretty much flat. Policymakers from the G20 countries agreed at the weekend to work to support global growth and better share the benefits of trade, in a meeting dominated by the impact of the UK’s exit from Europe and fears of rising protectionism. Nintendo tumbled -18% after saying the financial impact from Pokemon Go will be limited. McDonald’s Holdings Co (Japan) which last week said it was sponsoring Pokemon Go, slumped -12%. Nidec Corp jumped +4.2% after posting profit that beat analyst estimates.
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.