European shares rose as several companies reported earnings. The ESTX 50 (+0.88%), CAC 40 (+0.91%), Dax (+0.85%) and the UK markets (+0.17%) all increased in early trading. Societe Generale jumped +7% after reporting better than expected earnings and said it would target a slightly bigger cushion of capital and higher cost savings. Legal & General Group Plc added +3.3% after reporting first half earnings that beat analysts’ estimates. London Stock Exchange Group Plc gained +2.3% after posting higher than forecast first half operating profit.
US stocks retreated as investors worried about a rise in interest rates while Apple’s shares hit their lowest in over six months. The Dow Jones Industrial Average (-0.27%), S&P 500 (-0.22%) and the Nasdaq Composite (-0.19%) all decreased. Stocks extended losses after Atlanta Federal Reserve President Dennis Lockhart told the Wall Street Journal that September may be the right time to lift interest rates. Apple fell -3.21% to $114.64, firmly below their 200 day daily moving average, as a slowdown in China and scepticism over demand for iPhones contributed to pressure on the shares. After the bell, Etsy fell -9% and Walt Disney lost -1.4% after the companies posted quarterly results that disappointed Wall Street. First Solar jumped +10% after posting better than expected quarterly results.
Asian stocks were mixed as investors weighed comments from a Federal Reserve official ahead of US employment data. The S&P/ASX 200 (-0.42%) dropped, while the Nikkei 225 (+0.46%) and Hang Seng (+0.36%) both increased. Terumo surged +13% after saying profit jumped and it will buy back shares. Kajima added +6.8% after reporting net income more than doubled. Daikin Industries Ltd added +5% after the Nikkei newspaper said the company will post a 10% increase in operating profit. Fast Retailing Co dropped -4.7% after it reported a drop in sales at its Uniqlo stores. Leshi Internet slumped -6%, ZTE retreated -2.6% and Easy Money Information Co tumbled -4.8%.
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.