European stocks rose this morning, mirroring gains in Asia were stocks rose after Hilary Clinton was perceived by investors to be the winner of the first US presidential debate. The ESTX 50 (+0.38%), CAC 40 (+0.31%), Dax (+0.14%) and the UK markets (+0.08%) all posted gains in early trading. Close Brothers rose +3.5% following a rise in full year adjusted operating profit. Wolseley fell -4.5% as tough market conditions forced it to close 80 UK branches and a distribution centre. HSBC Holdings rose +1.39% for its first advance in four days.
US stocks fell as Deutsche Bank weighed on financials and investors awaited the first debate between US presidential candidates Hillary Clinton and Donald Trump. The Dow Jones Industrial Average (-0.91%), S&P 500 (-0.86%) and the Nasdaq Composite (-0.91%) all retreated. Many view a potential Clinton presidency as negative for pharmaceutical companies because of criticisms she has made about high prices. Trump has promised to dismantle the Affordable Care Act, which boosted health insurers since 2000. Deutsche Bank fell -7.06% to a record low after the bank said it had no need for German government assistance, a response to an earlier report that Chancellor Angela Merkel had warned not to expect any. JPMorgan declined -2.19% and Bank of America dropped -2.24%. Pfizer Inc fell -1.81% after it decided against splitting into two.
Asian stocks advanced with investors viewing Democratic candidate Hillary Clinton as having gotten the upper hand in the first US presidential debate. The S&P/ASX 200 (-0.47%) declined, but the Hang Seng (+1.09%) and the Nikkei 225 (+0.84%) both rallied. Ryoden Corp slumped -6.5% after slashing its operating profit forecast for the half year ending September 30th by 71%. Sumitomo Dainippon Pharma Co jumped +4.9% after the Nikkei newspaper reported that the company is in the final stage of clinical trials for a new type of cancer treatment in Japan and the US. Toshiba Corp climbed +5.8% after SMBC Nikko Securities raised its rating on the company to “outperform”.
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 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.