US equities were quiet in Thursday trading with little corporate news of note. In the technology sector, Cisco Systems gained 2.87% after results on Wednesday beat analyst expectations. Total revenues rose 3%, with a particularly good performance from domestic US operations. Other risers included Home Depot up 1.1%, Boeing rose 1.7% and Merck rose 1.2%. Crude oil was still under negative pressure with Conoco 2.8% lower, Halliburton 2.2% down and Transocean fell 6.5%. Other stocks to fall, included Alcoa down 2.1%, Abercrombie & Fitch down 4.2% and Intel lost 2%.
Asia equities were also quiet in overnight trading with India the best performing market, whilst Malaysia continued to be the worst performing country. In China, investors believed that the state would become more proactive with some of its holdings. This led to limit up +10% rises in Shanghai Chengtou and Shanghai Jinqiao. In the mining sector, a fall in the gold price saw Zijin Mining fall 2.8% and Shandong Gold lost nearly 4%. In Japan, commodity weakness impacted Inpex down 1.8% and Nippon Steel fell 2.2%. In Australia, Santos dropped 9% to trade at a 11 year low. Malaysian stocks look set to record the steepest weekly fall since 2008 and UBS reiterated a negative view on the market.
Europe is trying to stage a rally in Friday trading with most indices in the region rising by 0.50%. In France, Thales is up nearly 3%, after the defence company received a strong buy rating from Goldman Sachs. BAE Systems is up 1.2%. In the UK, ARM Holdings is up 2.45% on vague bid rumours and ITV is 1.35% higher on Time Warner bid rumours. The supermarket sector is firmer with Tesco up 1.56%, Sainsbury is 1.38% higher and Morrisons is up just over 1%. Other risers include Nestle up 1.1%, Porsche is up 2.4% and Adecco is 2.1% higher.
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.