European shares rose this morning as positive economic data from France lifted the Paris stock market. The ESTX 50 (+2.67%), UK markets (+1.96%), CAC 40 (+2.85%) and the Dax (+2.14%) all posted gains in early trading. Glencore extended its rebound from the recent sell-off, rising around +10% on Monday after a surge in its Hong Kong listed shares. The company said it knew of no reason for the swings. Volkswagen fell around -5% as credit default swaps on VW jumped, another effect on the company’s admission on diesel emissions tests in the United States. ArcelorMittal rose +5% after Citigroup raised its rating on the stock to “buy” from “sell”.
US stocks gained as worries about the economy after a disappointing jobs report gave way to a robust rally in energy and materials stocks. The Dow Jones Industrial Average (+1.23%), S&P 500 (+1.43%) and the Nasdaq Composite (+1.74%) all advanced. Nonfarm payrolls rose by 142,000, far below the 203,000 economists has expected, and August and July figures were revised down. But the jobless rate held at 5.1%. Odds of a December rate hike fell to little over 27% from 44% before the report. Chevron rose +4.1% and ConocoPhillips jumped +2.12%. Alcoa jumped +2.81%.
Asian shares rose after a weaker than expected US jobs report reduced the case for the Federal Reserve to raise interest rates. The Nikkei 225 (+1.58%), Hang Seng (+1.62%) and the S&P/ASX 200 (+1.95%) all increased. Energy shares led the advance after a report signalled US crude output cuts, sending shares of Japan Petroleum Exploration Co up +4.6%. Kyoei Steel Ltd advanced +5.3% after Credit Suisse Group AG raised its operating profit estimate on the company and said infrastructure related steel companies are attractive amid concern about the global economy.
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.