European stocks extended gains as Ukraine and Russia agreed on a ceasefire in eastern Ukraine. The ESTX 50 (+1.57%), UK markets (+0.80%), CAC 40 (+1.37%) and the Dax (+1.58%) all posted gains in early trading. Danone increased +2.2% after appointing Emmanual Faber as CEO as it split the chairman’s dual roles. Ashtead Group Plc advanced +2.3% after saying full year results will be higher than previously forecast. Hermes International SCA fell -6.5% after LVMH Moet Hennessy Luis Vuitton SA said it will distribute its stake in the company to its own shareholders. ING Groep NV climbed +1.9% after saying it will reduce its stake in a former US insurance unit, Voya Financial Inc, by selling $1.18 billion in shares. Hargreaves Lansdown Plc fell -3.3% after reporting that pretax profit was less than analysts had estimated. Booker Group Plc tumbled -5.8% as Metro AG is selling its entire 9% in the company.
US stocks fell as energy producers sank with the price of crude to offset data showing US manufacturing expanded at the fastest pace in three years. The Dow Jones Industrial Average (-0.18%) and the S&P 500 (-0.05%), while the Nasdaq Composite (+0.39%) increased. Newfield Exploration and Noble Corp slid at least -2.1% as the price of West Texas Intermediate crude slumped. Chevron Corp lost -1.5%. Home Depot sank -2% after saying it was working with banks and law enforcement to investigate the possible breach. Sraples climbed +8.1% after being raised to “outperform” from “neutral” at Credit Suisse. Tesla rose +5.4% after a report by Stifel Nicolaus & Co cited that the company’s increasing production and said it may be worth $400 a share even before it starts making a lower priced model.
Asian stocks rose as reports showing faster growth in China’s service industries and US manufacturing boosted optimism in the world’s biggest economies. Japanese exporters advanced. Sony gained +2.7%. Honda Motor Co, a company that gets more than 80% of sales outside Japan, added +0.9%. Panasonic Corp advanced +1.8%. Yokogawa Electric Corp jumped +9.1% after JPMorgan raised its rating to “neutral” from “underweight” and increased its share-price forecast to 1,380 yen from 1,160 yen. Renesas Electronics Corp surged +17% after saying Innovation Network Corp of Japan’s stake in the company is too large. The comment suggests INCJ and others are willing to sell down their stakes because Renesas has been successful in restructuring.
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.