European stocks climbed this morning as signs of slowing economic growth in China bolstered speculation that the Federal Reserve will delay raising US interest rates. The ESTX 50 (+1.96%), UK markets (+1.72%), CAC 40 (+1.90%) and the Dax (+2.12%) all increased in early trading. Banks and energy producers were helping lead markets higher. HSBC Holdings Plc, the stock with the biggest weighting in the UK markets, added +2.3%, while Barclays Plc rose +2.1%. Royal Dutch Shell Plc and BP Plc advanced both advanced at least +1.5%. Amlin Plc surged +33% after MS&AD Insurance Group Holdings Inc agreed to buy it. Glencore Plc added +0.8% as JPMorgan Chase & Co raised its rating. RWE AG rose +6.5% after Kepler Cheuvreux raised its recommendation on the company to “hold”.
US markets were closed yesterday for Labour Day holiday.
Most Asian stocks rose. But stocks in Tokyo fell, with the Nikkei 225 erasing its gains in 2015, after data showing Chinese exports dropped for a second month outweighed a report indicating Japan’s economic slowdown is not as deep as first reported. The Nikkei 225 (-2.43%) dropped, while the Hang Seng (+3.79%) and the S&P/ASX 200 (+1.69%) both advanced. Great Wall Motor Co jumped +16% in Hong Kong after reporting increased sales for August. Samsung Electronics Co gained +1.7% in Seoul after a report that the company is preparing to cut 10% of workers at its headquarters. Nomura Holdings Inc sank -3% after Barclays Plc cut its rating on Japan’s biggest brokerage.
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.