European stocks mixed this morning despite optimism over Greece as official comments pointed to a speedy wrap-up to bailout talks designed to save the country from financial ruin. The ESTX 50 (-0.01%) and the CAC 40 (+0.01%) were flat, while the UK markets (-0.96%) and the Dax (-0.21%) were both negative in early trading. Dixons Carphone Plc slipped -1.2% after the UK’s data protection watchdog said it is looking into a cyber-attack on the company’s mobile phone retailer Carphone Warehouse. Banco Popolare SC advanced +2.8% after posting better than expected second quarter earnings. Infineon Technologies AG added +1.1%. BHP Billiton Ltd and Rio Tinto Group led declines among miners, falling at least -1.4% each.
US equities had another weak trading session on Friday, with investors still concerned by weak commodity prices. Indeed, the Dow Jones Industrial Average posted the longest losing period since 2011. Crude oil prices sank to a four year low with Conoco down nearly 3%, Chevron fell 1.79% and Exxon lost 1.61%. There was a sharp rise in American Express, as an activist investor was revealed to own just under 5% of the credit card giant. The shares gained over 6%. There was strength in jobs data, which reinforced views that the Federal Reserve will increase interest rates in September. Technology shares were also weak with Hewlett-Packard down 2.42%, Google was 1.15% lower and IBM fell 0.77%.
Asian stocks were mixed after China reported bigger than expected drops in exports and producer prices and US jobs data boosted expectations for a Federal reserve interest rate increase next month. The Nikkei 225 (+0.41%) and the S&P/ASX 200 (+0.63%) both increased, while the Hang Seng (-0.20%) decreased. Nissin Foods Holdings Co jumped -5.9% after profit surged. Olympus Corp added +2.4% after being selected to join the JPX-Nikkei Index 400. Mabuchi Motor Co sank -11% to lead declines among Japanese firms that rely on China for sales. China Shipbuilding Industry Co, China Coal Energy Co and China United Network Communications Ltd all advanced by the 10% daily limit in Shanghai. China is considering combining China Shipping Group and Cosco Group, its two major shipping companies, according to reports.
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.