European stocks rose after the ECB cut interest rates to fight deflation. The ESTX 50 (+0.10%), UK Markets (+0.26%) and the Dax (+0.13%) all posted gains in early trading, while the CAC 40 (-0.02%) was flat. Deutsche Boerse AG climbed +0.3% after it was reported that it is exploring the sale of its business in the US. BNP Paribas SA slipped -0.4% after it was reported that New York banking regulator Benjamin Lawsky has pressed it to dismiss one of its senior executives. Centrica Plc Gained +1.4% after the Daily Mail reported speculation that an international buyer may buy a stake in the UK’s biggest energy supplier before bidding for the whole company. Imagination Technologies Group Plc fell -1.4% after Liberum Capital Ltd downgraded the shares.
US equities rose as European Central Bank stimulus boosted optimism in the global economy ahead of today’s jobs report. The Dow Jones Industrial Average (+0.59%), S&P 500 (+0.65%) and the Nasdaq Composite (+1.05%) all advanced. Sprint Corp dropped -4% after it was reported that the company is nearing a price agreement for a potential acquisition of T-Mobile US Inc. T-Mobile fell -2.3%. Ciena Corp surged +18% as earnings beat analyst estimates. Twitter rose +3.% after Pacific Crest rated the shares “outperform”, projecting a gain in their price to $45 in 12 months. The company has jumped +6.7% in the past three days, paring its loss for the year to 47%. Amazon.com surged +5.5% after breaking its average price for the past 50 days. TripAdvisor Inc and Pandora Media Inc added more than +2.8%.
Asian stocks were mixed after the ECB announced stimulus measures. The Nikkei 225 (-0.01%) was flat, the Hang Seng (-0.21%) was down, while the S&P/ASX 200 (+0.50%) increased. Kyowa Hakko Kirin gained +2.8% after Barclays upgraded the shares to “overweight” from “equal weight”. Prada SpA sank -5.9% in Hong Kong after profit missed analysts’ estimates as a tourism slump damped its sales of luxury goods in Europe. Infosys Ltd dropped -2.4% in Mumbai after the resignation of Prasad Thrikutam, the vice-president for marketing at the software-services provider. Sumco Corp surged +11% to lead gains in the Nikkei 225. Commonwealth Bank of Australia climbed +1% in Sydney.
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.