European stocks advanced as investors awaited data on US home sales. The ESTX 50 (+0.34%), CAC 40 (+0.11%), Dax (+0.49%) and UK markets (+0.14%) all posted gains in early trading. Royal Philips NV climbed +3% after saying it will merge its LED-component and automotive-lighting units into a €1.4 billion standalone company. Anglo American Plc gained +1.2% after the Sunday Times reported that the company will sell mines in South Africa as part of plans to divest assets valued at as much as $4 billion. Lundbeck declined -5.6% after saying further development of the experiment stroke drug desmoteplase is under consideration after it failed in a late-stage study.
US stocks rose as equities reversed losses in the final hour of trading amid Russell Investments’ annual revisions to its benchmark indexes. The Dow Jones Industrial Average (+0.03%), S&P 500 (+0.19%) and the Nasdaq Composite (+0.43%) all advanced. Nike Inc added +1.1% after posting profit that beat analysts’ estimates. DuPont fell -3.3% after trimming its profit estimate as farmers switched to soybeans. Dollar General Corp sank -7.3% after the company’s chief executive said he would retire. Keurig Green Mountain Inc added +4.1% after being raised to “buy” from “hold” by Argus Research Corp. Family Dollar Stores Inc slid -1.7%.
Asian stocks were mixed as technology shares gained. The Nikkei 225 (+0.44%) was up, while the S&P/ASX 200 (-0.91%) and the Hang Seng (-0.20%) both declined. Inotera Memories Inc surged +5.4% to lead gains in the information technology sector. China Telecom Corp rose +2.1% in Hong Kong after being approved for a mixed fourth-generation network trial. Nitori Holdings Co surged +4.7% in Tokyo after reporting quarterly profit that beat estimates. China Avic Electronics Co led gains for industrial companies, surging +4.3% to extend a rally to 21% since the start of April.
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.