European stocks rose as ECB president Mario Draghi reiterated that officials are ready to act to maintain support of the euro area recovery. The ESTX 50 (+0.78%), UK markets (+0.90%), CAC 40 (+0.92%) and the Dax (+0.28%) all posted gains in early trading. ING Groep NV gained +1.8% after reporting a 14% rise in third quarter profit as margins improved and it reduced provisions for bad loans. Marks & Spencer Group Plc rose +3.4% after reporting first half earnings that beat analyst estimates and raising its profitability forecast. Glencore Plc added +6.32% after selling a share of its future silver output in a deal that includes a $900 million upfront payment. Lonmin Plc fell -1% after saying it may have to cease trading if shareholders block a $770 million refinancing plan that includes a stock sale.
US stocks rose as the tech and energy sectors drove indexes higher, with the Nasdaq finishing the session at a record close. The Dow Jones Industrial Average (+0.50%), S&P 500 (+0.27%) and the Nasdaq Composite (+0.35%) all increased. Exxon and Chevron rose +1.8% and 3.3% respectively, making both stocks among the biggest drivers of the Dow and S&P. Apple rose +1.1% and Microsoft increased +1.7%. Activision Blizzard rose +3.6% after saying it would buy “Candy Crush” maker King Digital for $5.9 billion. King soared to +14.9%. Archer Daniels Midland dropped -6.8% after missing profit estimates. Altria fell -4.4% after a rating cut. Sprint fell -7% after reporting lower than expected results.
Asian stocks rose as energy producers climbed amid renewed global appetite for riskier assets. The Nikkei 225 (+1.30%), Hang Seng (+2.15%) and the S&P/ASX 200 (+0.06%) all advanced. Inpex Corp added +4% in Tokyo after crude oil futures traded near a three week high. Nissan Motor Co advanced +2.6% after increasing its full year profit forecast. Hong Kong Exchanges & Clearing Ltd jumped +4.7% after China’s central bank unintentionally sparked a surge in the nation’s stock market by publishing five month old comments from governor Zhou Xiaochuan that said a link between exchanges in Shenzhen and Hong Kong would start in 2015.
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.