European stocks were little changed as investors awaited data on US payrolls. The ESTX 50 (+0.03%) and the Dax (+0.07%) were slightly up, while the CAC 40 (-0.27%) and the UK markets (-0.12%) were negative in early trading. PSA Peugeot Citroen climbed +3% after Euronext NV said the company will replace Gemalto NV on the benchmark CAC 40 index from March 23rd. Gemalto lost -3.5%. Banco BPI SA advanced +5.9% after its board advised shareholders to reject a bid by CaixaBank SA because the offer is too low. Banco Comercial Portugues SA, which said this week it’s prepared to study the potential for a merger with BPI, added +1.9%. Scor SE gained +3.1% after it was reported that Sompo Japan Nipponkoa Holdings Inc plans to buy a 15% in the company. Mining stocks suffered this morning with BHP Billiton Ltd and Rio Tinto Group both losing more than -1%, while Anglo American Plc declined -1.8%.
US stocks closed modestly higher on Thursday as investors awaited todays jobs report, which is expected to be a big factor influencing the timing of a Federal Reserve interest rate hike. The Dow Jones Industrial Average (+0.21%), S&P 500 (+0.12%) and the Nasdaq Composite (+0.32%) all gained. AbbVie fell -5.7% after saying it would buy Pharmacyclics for about $21 billion, giving it access to what is expected to be one of the world’s top selling cancer treatments. Pharmacyclics shares jumped +10.3%. Vertex Pharmaceuticals closed up +5.8%, Regeneron Pharmaceuticals added +3.8% and Biogen Idec rose +2.8%. Kroger rose +7% after reporting a 23% rise in quarterly profit and forecast full year earnings above expectations.
Asian stocks were mixed after the ECB committed to begin asset purchases and concern among Chinese investors that new share offering next week will divert funds away from existing equities. The Nikkei 225 (+1.17%) advanced, while the Hang Seng (-0.12%) and the S&P/ASX 200 (-0.09%) both declined. Sekisui House Ltd gained +4.2% after saying it will buy back as much as 20 billion yen of shares. Sumitomo Dainippon Pharma Co jumped +12% after Nomura Holdings raised its target price on the stock. FamilyMart Co dropped -2.2% after saying it is in talks to merge Uny Group Holdings. China CNR Corp and CSR Corp increased at least +7.5% after their merger plan was approved. Aluminium Corp of China Ltd jumped +10% to lead Chinese material producers higher.
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.