European stocks rose as investors speculated weaker economic reports will bolster the case for more central-bank stimulus. The ESTX 50 (+1.03%), UK markets (+0.47%), CAC 40 (+0.73%) and the Dax (+1.38%) all posted gains in early trading. Erste advanced +1.9% after Goldman Sachs raised its rating on the bank to “buy” from “neutral”. Aer Lingus climbed +1.8% after saying traffic rose +5.3% last month. Norwegian Air Shuttle ASA lost -6.4% after saying it expects a loss due to hedging positions. The company also said it carried 16% more passengers in September than in the same month last year. Barclays Plc climbed +1.5% after the Sunday Times reported that the bank will cut 1,300 jobs and increase the automation of branches. Tesco added +1.8% after strengthening independent oversight of its operations by appointing new directors. WM Morrison Supermarkets Plc and J Sainsbury Plc also gained more than +1% each.
US stocks rallied as a better than forecast payrolls report and expansion in service industries boosted confidence in the world’s largest economy. The Dow Jones Industrial Average (+1.24%), S&P 500 (+1.12%) and the Nasdaq Composite (+1.03%) all advanced. Mylan Inc increased +8% after forecasting earnings that surpassed analysts’ projections. Covidien Plc jumped +5.7% after Medtronic Inc said it intends to use about $16 billion in external financing to buy Covidien, reaffirming its commitment to complete the acquisition of the company. Medtronic climbed +3.5%. Airline stocks climbed as Brent Crude fell for a fourth day. United Continental Holdings Inc advanced +4.7% and American Airlines Group Inc increased +6.8%. JetBlue Airways Corp jumped +5.1% after Raymond James raised the company to “market perform” and Deutsche Bank added the stock to a short term buy list. Cliffs Natural Resources Inc lost -17% after Nomura Holdings Inc cut its rating on the stock to “reduce” from “buy”.
Asian stocks rose as a better than forecast US payrolls report boosted confidence in the US economy and weakened the yen. The Nikkei 225 (+1.16%) and the Hang Seng (+1.10%) both increased, while the S&P/ASX 200 (-0.48%) decreased. Japanese exporters advanced. Toyota, which gets about 30% of its sales from North America, gained +1.5%. Honda Motor Co, which gets about 80% of its revenue abroad, rose +1.9%. Sony Corp, which gets about 70% of its sales outside Japan, added +2.2%. Fujifilm Holdings Corp, jumped +2.8% after a French Ebola patient recovered following being given its Avigan drug with another experimental treatment. Inpex Corp slid -2.6% as West Texas Intermediate crude declined 24 cents in New York.
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.