European stocks rose as investors awaited a report that may show American job growth accelerated. The ESTX 50 (+0.43%), UK Markets (+0.68%) and the CAC 40 (+0.49%) all posted gains in early trading, while the Dax was closed today due to a national holiday. EasyJet Plc gained +3.9% after saying full year pre-tax profit jumped at least 20%. Iliad SA fell -1.4% after it was reported that it plans to bid for bigger stake in Deutsche Telekom AG’s US unit than it originally sought. Total gained +1.7%, leading energy companies higher. Renishaw Plc rallied +9.4% after saying first quarter sales jumped to a record. HSBC Holdings Plc (+2.10%) and Standard Chartered Plc (+0.81%), banks that count on Asia as their largest market, both rallied as a top Hong Kong official pledged to hold talks with pro-democracy protestors.
US stocks ended flat in a volatile session as energy stocks rebounded and investors beaten down shares, especially small caps. The Dow Jones Industrial Average (-0.02%), S&P 500 (0.00%) and Nasdaq Composite (+0.18%) all finished pretty much were they started the session. Halliburton Co fell -2.4% and Baker Hughes Inc lost -2.5% as the S&P energy index fell -1.2%. US November crude oil fell 0.5% to $90.30 barrel, though it was well off its low of the session. Earlier in the session Brent crude fell to the lowest level since June 2012 as Saudi Arabian price cuts and weak global economic data added to supply glut worries. Crude has fallen 14% since the start of July. Tesla Motors Inc added +3% after the company’s CEO hinted at a new product that would be unveiled next week. Twitter gained +2.4% after JPMorgan upgraded the company to “overweight” from “neutral” and raised its price target on the stock by $10 to $64.
Asian stocks gained as Hong Kong shares rebounded from multi-month lows but they were still on track for a fourth straight week of losses amid worries about global growth. The Nikkei 225 (+0.30%), Hang Seng (+0.55%) and the S&P/ASX 200 (+0.39%) all advanced. China Resources Land Ltd, the second largest mainland property company listed in Hong Kong, jumped +6.9% after China eased first home mortgage criteria. Utilities also climbed, with China Resources Power Holdings Co advancing +4.3%. Luk Fook Holdings International Ltd dropped -3.3% as retail shares dropped on falling visitor arrivals to Hong Kong amid the city’s biggest period of political unrest since the 1960’s. Fast Retailing Co gained +2.8% after saying domestic sales rose 20% last month at its Uniqlo stores. Honda Motor Co slumped -1.4% after saying its investment rating was cut by UBS AG.
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.