European stocks advanced as investors awaited data on US durable goods orders. The ESTX 50 (+0.61%), UK Markets (+0.36%), DAX (+0.74%) and the CAC 40 (+0.60%) all posted gains in early trading. Airbus Group NV rose +1% after Les Echoes reported it is extending its partnership with Aviation Industry Corporation of China. Mediaset SpA added +1.6% after reporting a return to profit for 2013%. Lloyds Banking Group Plc slid -4.6% as the UK government sold a stake in the bank. William Hill Plc gained +2.5% after HSBC Holdings Plc recommended buying the shares. SSE Plc increased +1.7% after saying it will dispose of £1 billion in assets and separate its retail and wholesale units.
US stocks advanced as commodity and health-care shares rallied and economic data showed consumer confidence at a six year high. The Dow Jones Industrial Average (+0.56%), S&P 500 (+0.44%) and the Nasdaq Composite (+0.19%) all advanced. Large companies led the gains as investors opted for less volatile stocks. IBM advanced +3.6%, Cisco gained +3.6% and J&J rose +2.3%. Freeport-McMoRan climbed +1.5% after copper rose the most in 15 weeks in New York on speculation that demand will improve as China takes steps to bolster economic growth. Walgreen Co climbed +3.3% after saying it plans to close 76 pharmacies in the second half of 2014. Sonic Corp rallied +11% after reporting profit that beat analysts’ projections. McCormick & Co advanced +5.5% after reporting first-quarter profit and sales that exceeded analysts’ estimates.
Asian stocks rose after US consumer confidence climbed to a six year high, increasing investor optimism about the outlook for the US economy. The Nikkei 225 (+0.37%), Hang Seng (+0.72%) and the S&P/ASX 200 (+0.75%) all rallied. China Mengniu Dairy Co soared +8.6% in Hong Kong after posting a 25% profit gain last year. Kirin Holdings Co advanced +2.6% on a report the company will raise its annual dividend to at least 40 yen and consider a share buyback. Agricultural Bank of China Ltd surged +3.4% after reporting that fourth quarter net income jumped 13% from a year earlier.
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.