European stocks rose this morning, helped by gains in the shares of major banks. The ESTX 50 (+0.78%), CAC 40 (+0.69%), Dax (+1.02%) and the UK markets (+0.32%) all posted gains in early trading. Barclays rose +2.8% after Exane BNP Paribas upgraded Barclays to “outperform” from “neutral”. PostNL shares rose +8.8% after its second quarter results were well received by investors, with the company confirming its full year outlook. Airbus shares fell -1.7% after the Serious Fraud Office launched a formal investigation into suspected fraud, bribery and corruption in connection with commercial plane sales by Airbus.
US stocks rose following a second straight month of robust labour market data boosted optimism that economic growth is accelerating. The Dow Jones Industrial Average (+1.04%), S&P 500 (+0.86%) and the Nasdaq Composite (+1.06%) all increased. The US Labour Department showed that nonfarm payrolls rose by 255,000 in July, far outpacing expectations for a gain of 180,000. While the unemployment rate remained unchanged at 4.9%, it held below the 5% mark associated with full employment. JPMorgan Chase shares gained +2.7% and closed at its highest level of the year. Bristol-Myers plunged -16% after its lung cancer treatment failed in a late stage study, while Merck which makes a rival treatment, rose +10.4%.
Asian stocks rose as investors hunt for yield gathered momentum against a backdrop of a recovering US economy and ultra-easy global monetary policy conditions. The S&P/ASX 200 (+0.74%), Hang Seng (+1.57%) and Nikkei 225 (+2.44%) all advanced. Yanzhou Coal Mining Co jumped by the day’s 10% limit Shanghai as a gauge if energy stocks jumped the most in nearly a month in mainland China trading. Vanke advanced +1.5% in Hong Kong, heading for its highest close in 3 months.
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.