European stocks rose after Vladimir Putin ended a series of military exercises in western Russia and ordered the troops back to their bases. The ESTX 50 (+1.15%), UK markets (+1.11%), CAC 40 (+1.24%) and the DAX (+0.88%) all rallied this morning. Ashtead Group Plc rallied +6% after saying full year profit will exceed the company’s previous projections. GAM Holding AG increased +2.6% after raising its dividend after full year profit jumped. RWE AG added +1.3% after reaffirming its forecast for net income in 2014. Glencore Xstrata Plc gained +2.3% after saying adjusted net income rose 20% last year. Fresnillo Plc tumbled -8.3% after 2013 earnings missed analysts’ projections. Continental AG climbed +1.7% after saying it will expand outside its home region. Beiersdorf AG increased +1.3% after forecasting an increase in profitability this year. Bayer AG rose +2% and Deutsche Boerse AG gained +1.8%.
US stocks sank as investors sought havens on concern that Russia’s military presence in Ukraine could lead to a larger conflict. The Dow Jones Industrial Average (-0.94%), S&P 500 (-0.74%) and the NASDAQ Composite (-0.72%) all retreated. Airline stocks declined after a report from industry tracker Mas Flight estimated that cancellations caused by severe winter weather may have cost carriers as much as $500 million. American Airlines Group tumbled -2.3% and Delta Air Lines Inc dropped -1.9%. Yandex, whose market share in Russia is twice that of Google’s plunged -14%. Newmont Mining Corp advanced +1.6% after gold jumped to a four month high in New York as investors bought the metal as a haven. Reynolds American gained +4.8% after the Financial Times reported the company hired an investment bank to explore a deal for its rival in cigarette sales. Lorillard jumped +9.3%. Financial shares suffered with American Express sinking -1.4% and Visa dropping -2% for the steepest slide in the Dow. General Electric lost -1.4% and 3M dropped -1.9%.
Asian stocks rose as investors weighed the crisis in Crimea and ahead of the National People’s Congress annual meeting in China starting tomorrow. The Nikkei 225 (+0.47%), Hang Seng (+0.70%) and the S&P/ASX 200 (0.30%) all advanced. Tencent Holdings Ltd advanced +1.7% as Hong Kong shares rebounded from their biggest drop in a month. AGL Energy sank -2.5% in Sydney after its $1.35 billion deal to buy power plants in Australia’s most populous state was blocked by an antitrust regulator. Japanese developers advanced. Mitsubishi Estate jumped +2.2%, Sumitomo Realty & Development Co added +3.6% and Mitsui Fudosan increased +2.1%. China Vanke Co’s B shares jumped by the 10% daily limit after receiving regulatory approval to convert the shares into Hong Kong traded stocks. Noble Group Ltd climbed +5.6% in Singapore after saying it’s in talks over a potential joint venture for the group’s agriculture business.
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.