European stocks rose as investors assessed earnings reports, and amid speculation that central banks will further support global growth. The ESTX 50 (+2.26%), UK markets (+1.24%), CAC 40 (+2.12%) and the Dax (+2.41%) all posted gains in early trading. Royal Bank of Scotland Group Plc tumbled -8.1% after saying it would take longer than originally planned to resume shareholder payouts after reporting its eighth consecutive annual loss. BASF SE rose +1.4% after proposing a higher dividend, even as it forecast earnings to drop as much as 10% in 2016. Erste Group Bank AG added +2.8% after projecting profit will rise this year, allowing it to continue dividend payouts.
US stocks rose as higher oil prices reduced fears that banks could be hit by defaults and investors saw opportunities after weeks of volatility. The Dow Jones Industrial Average (+1.29%), S&P 500 (+1.13%) and the Nasdaq Composite (+0.87%) all advanced. Also helping sentiment, orders for durable goods rose more than expected in January as demand picked up across the board, offering a ray of hope for the manufacturing sector. Salesforce.com Inc surged +11.03% after reporting higher than expected revenue and raised its full year forecast. Sturm Ruger & Co jumped +7.8% after reporting quarterly results that beat Wall Street’s expectations. Microsoft rose +1.44%.
Asian stocks gained as a gathering of world finance leaders provided some reassuring comments, but little in the way of actual policy stimulus. The Hang Seng (+2.52%) and the Nikkei 225 (+0.30%) were both positive, while the S&P/ASX 200 (-0.02%) was flat. Sharp Corp tumbled -11% after a deal with Foxconn Technology Group appeared at risk just hours after the company won a vote to take control. Sharp’s biggest competitor Japan Display Inc surged +7.9%. Eighteenth Bank Ltd soared +11% after agreeing to merge with Fukuoka Financial Group Inc.
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.