European stocks were little changed before a report on hiring by US companies that may help investors assess the pace of Federal Reserve stimulus. The ESTX 50 (+0.25%), CAC 40 (+0.10%) and the DAX (+0.01%) all posted modest gains in early trading, while the UK Markets (-0.24%) were slightly down. SAP AG added +1.1% after UBS recommended that investors buy the shares. Kion Group AG slid -2.8% after its biggest shareholder put a 10.8% stake in the company on sale. Persimmon Plc was up +1.31% after saying it had a strong finish to 2013 with the number of legally completed house sales in the second half 30% higher than in the first half, adding it will deliver strong underlying pretax profit growth for the year. AstraZeneca was down -0.27% after signing a deal with Immunocore to boost its experimental cancer drug pipeline as it seeks to find new medicines to replace those going off patent.
US stocks rose ahead of Friday’s employment report and the start of fourth quarter earnings season this week. The Dow Jones Industrial Average (+0.64%), S&P 500 (+0.61%) and the NASDAQ Composite (+0.96%) all advanced. UnitedHealth climbed +3.1% after being raised to “buy” from “hold” by Deutsche Bank AG. Johnson & Johnson increased +2.1% after RBC Capital boosted the stock to “outperform” from “sector perform”. Tenet Healthcare Corp rallied +4.9% and HCA Holdings Inc advanced +2.7% after Credit Suisse, which rates both companies “outperform”, advised buying hospital stocks on any weakness. MGM rose +4.4%, Wynn Resorts gained +2.9% and Las Vegas Sands added +2.2% after Nomura increased their estimates for the companies Macau earnings and raised their price targets for all three stocks. Netflix Inc slid -5.6% after Morgan Stanley said the company faces more competition.
Asian stocks rose as the IMF said it will raise its global economic growth forecast and the US trade deficit narrowed. The Nikkei 225 (+1.94%) and the Hang Seng (+1.25%) both increased, while the S&P/ASX 200 (-0.02%) was flat. Nintendo Co jumped +11% in Tokyo after China lifted a 13 year ban on games consoles. Belle International Holdings Ltd soared +13% in Hong Kong after Barclays Plc said the retailer may boost earnings. Seven & I Holdings Co jumped +6% in Tokyo after the company’s profit beat analyst estimates. Chow Tai Fook Jewellery Group Ltd jumped +10% after reporting that quarterly sales increased 26%. Mitsubishi Motors Corp dropped -4% after saying it plans to raise as much as 241.6 billion yen in a public share sale.
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.