European stocks advanced before a report that may show the US economy created jobs at a faster pace last month. The ESTX 50 (+0.15%), CAC 40 (+0.18%), DAX (+0.21%) and the UK markets (+0.38%) all posted gains in early trading. Mediaset advanced +2.4% as it started selling a 25% stake in its Ei Towers SpA subsidiary. EasyJet Plc rose +1.1% after saying more passengers took its flights last month. Renault SA gained +1.4% after Les Echos said the company’s labour costs have dropped more than 4% since it reached an agreement on increased working time with staff last year. TNT Express NV lost -1.9% after the CFO resigned from his post. Remy Cointreau rose +6% on speculation that Brown-Forman is mulling a bid for the company.
US stocks fell as consumer and technology shares slumped before the government’s monthly jobs report today. The Dow Jones Industrial Average (-0.01%), S&P 500 (-0.11%) and the Nasdaq Composite (-0.91%) all declined. Anadarko Petroleum surged +15% for the biggest gain in the S&P 500 after agreeing to pay $5.15 billion to settle US environmental claims stemming from its acquisition of oil and gas producer Kerr-McGee Corp. Barnes & Noble Inc plunged -14% as investor Liberty Media Corp said it will reduce its stake in the company, dropping a board seat and freeing the company to develop a strategy on its own. Facebook Inc dropped -5.2%. TripAdvisor Inc slid -4.1%. Kellogg Co rallied +6% for its biggest advance in nearly five years. Vertex Pharmaceuticals Inc slid -4.4% and Alexion Pharmaceuticals Inc decreased -2%.
Most Asian shares climbed after China outlined economic stimulus plans. The S&P/ASX 200 (+0.24%) advanced, while the Nikkei 225 (-0.05%) and the Hang Seng (-0.24%) both declined. Exporters climbed. Samsung Electronics added +2.4% in Seoul. LG Display Co, which supplies panels for Apple Inc devices, jumped +3.2%. Honda Motor Co, a company that gets about 44% of sales from North America, gained +1% in Tokyo. China’s rail stocks rose after the government said it will sell 150 billion yuan of bonds this year to help build railways mainly in the less developed central and western regions. China Railway Construction surged +7.2% in Hong Kong. China Railway Group Ltd climbed +5.1%. Orix Corp rose +2% in Tokyo after saying it will sell its stake in Monex Group Inc to Shizuoka Bank Ltd.
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.