European shares rose this morning, lifted by solid results from several companies which enabled European stocks to regain their upwards momentum. The ESTX 50 (+0.05%), UK markets (+0.45%), CAC 40 (+0.04%) and the Dax (+0.07%) all posted gains in early trading. WPP advanced +2.4% as it reported a solid start to 2016 after account wins and strong demand across the board helped it end 2015 with its best growth of the year. Gemalto rose by more than +10% after reporting a rise in annual profits. Accor SA rose +1.5% after a spokeswoman said the company isn’t in talks to buy Carlson Rezidor Hotel Group. Andritz AG added +3.2% after announcing better than estimated fourth quarter sales and profit.
US stocks gained, adding momentum to a recent recovery as the energy and financial sectors emerged into positive territory for the year. The Dow Jones Industrial Average (+0.26%), S&P 500 (+0.35%) and the Nasdaq Composite (+0.09%) all advanced. The energy sector bucked weakness in oil futures, led by a +26% jump by shares of Chesapeake Energy Corp, an +18% gain in Southwestern Energy Co and a 14% rise in Ensco Plc. Herbalife fell -7.02% after saying it overstated growth in the number of new members due to a database error. Kroger dropped -7.01% after quarterly sales missed estimates. Costco Wholesale Corp lost -0.78% after reporting softer than expected quarterly profit and revenue.
Asian stocks climbed ahead of a meeting of Chinese leaders and a monthly US jobs report. BHP Billiton Ltd rose +2.4% in Sydney, supported by rising raw materials prices. The Hang Seng (+1.18%), Nikkei 225 (+0.32%) and the S&P/ASX 200 (+0.18%) all increased. Inpex jumped +6.8% as crude prices extended a third weekly gain. Cnooc Ltd climbed +3.9% to a four month high in Hong Kong. Samsonite International SA advanced +1.3% in Hong Kong after agreeing to buy Tumi Holdings Inc for about $1.8 billion in its biggest acquisition. Sharp Corp surged +9.4% after it was reported they are aiming to sign a $6 billion takeover agreement with Foxconn Technology Group as early as Monday.
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.