In the US the month of December has once again seen a rise in equities, with investors hoping the ‘Santa Rally’ will be in existence this year. US construction spending rose more than forecast in October with optimism that upcoming payroll data will also be positive. Healthcare was positive with Biogen gaining over 6% on positive data, Amgen was up 1.72% and Abbott Labs climbed just over 2%. Other gainers included the Energy sector with Exxon Mobil up 2%, Conoco up 2.1% and Valero Energy up 4%. Amongst the fallers, Deere fell 1.4% on continued fears over farm spending, Abercrombie & Fitch lost 1.1% and Campbell Soup was down 1.2%.
Asia was mixed with Japan again rising on optimism regarding Government action to boost the economy, whereas Hong Kong was lower on continued Chinese growth fears. The weaker Yen boosted the likes of exporters such as Toyota and broker, Nomura, closed at a five month high. Nisshin Steel was up 7% after the company boosted the dividend pay-out. In Australia, Qantas climbed another 6% whilst NuFarm was down a similar amount on a profits downgrade.
Europe is also higher in early trading with Healthcare boosting sentiment. Roche is up nearly 1%, Novartis is some 1.4% higher and Sanofi is up nearly 0.75%. Investors are expecting the ECB to embark on wider scale quantitative easing and bond yields have continued to fall. For instance, in Italy the 10 year yield has fallen below 2% for the first time in history this morning. In the UK, Sage is the best performing stock in the FTSE 100 after reporting positive results. Organic growth should reach 6% in 2015 with a 28% operating margin target.
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.