European shares were mixed as investors assessed gains after a two day rally that helped the regions equities recover about half of their post-Brexit losses. The ESTX 50 (-0.01%) was flat, while the UK markets (+0.46%) and the CAC 40 (+0.13%) both gained and the Dax (-0.24%) declined. Investors will continue to look today for any indications of the next steps from the UK and EU on the path to separation, with policy action that could help reassure markets also in focus. Bank of England Governor Mark Carney addresses members of the press and finance industry in London in a bid to assuage post-Brexit concerns. Deutsche Bank AG fell -2.9% after failing annual stress tests conducted by the Federal Reserve. Banco Santander SA, which also fell short of the Fed’s requirements, slipped -1.4%.
US stocks gained as investors continued to scour for bargains and digest the fallout from Britain’s stunning vote to leave the European Union. The Dow Jones Industrial Average (+1.64%), S&P 500 (+1.70%) and the Nasdaq Composite (+1.86%) all advanced. Airline stocks shrugged off rising oil prices and a terrorist attack at Istanbul’s main international airport that killed 41 people, with a Bloomberg index of US carriers seeing its strongest back to back climb since November 2014. Southwest Airlines Co and Delta Air Lines Inc added at least +3.9%, while United Continental Holdings Inc rose +4.2%. Merck & Co and Pfizer Inc rose more than +1.7% to help continue the climb in healthcare. Biogen Inc added +4.6%.
Asian stocks climbed for second day to track a global rebound, as anxiety over the economic fallout from the UK leaving the European Union diminished amid speculation central banks will support financial markets. The Nikkei 225 (+0.06%), Hang Seng (+1.75%) and the S&P/ASX 200 (+1.77%) all advanced. Sony Corp rose +0.9% after Mitsubishi UFJ Morgan Stanley Securities Co said restructuring in Sony’s television and smartphone business is on track and company is entering its next growth phase. Softbank Group Corp fell -0.3% after people familiar with the matter said US regulators are examining the mobile network operator over allegations about Nikesh Arora’s activities before he resigned as president last week.
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.