European stocks advanced as investors weighed corporate results from several companies. The ESTX 50 (+0.46%), UK markets (+0.39%), CAC 40 (+0.52%) and the Dax (+0.20%) all posted gains in early trading. Carlsberg added +3.4% after saying its market share improved in Russia as it reported third quarter profit in line with estimates. Nutreco NV jumped +13% after a Dutch investment company raised its bid for the company by 11%, fending off a rival approach by Cargill Inc. Kabel Deutschland gained +1.1% after saying second quarter sales rose 6%. Serco Group Plc tumbled -33% after lowering its operating profit for 2014 to no more than £140 million, after previously forecasting no less than £155 million. Cairn Energy jumped +9.5% after making a second oil discovery off the coast of Senegal which bears similar characteristics as nearby oil find the company made last month.
US stocks held at all-time highs as a report showed companies hired fewer workers than forecast while the jobless rate dropped to a six year low, supporting speculation the economy is withstanding an overseas slowdown. The Dow Jones Industrial Average (+0.11%) and the S&P 500 (+0.03%) both increased, while the Nasdaq Composite (-0.13%) declined. Sears Holdings Corp soared +31% on plans to explore the sale and leaseback of 200 to 300 stores. Walt Disney Co slid -2.2% after it reported profit fell at TV networks. Salix Pharmaceuticals Ltd tumbled -34% after its chief financial officer resigned. First Solar Inc retreated -11% after profit declined in the third quarter. Diamond Offshore Drilling Inc and Newfield Exploration Co both climbed more than +3% as oil prices climbed from near a three year low.
Asian stocks were mixed as regulators said a stock trading link between Hong Kong and Shanghai will start next week and the yen strengthened. The Nikkei 225 (-0.59%) and the S&P/ASX 200 (-0.45%) both retreated, while the Hang Seng (+0.83%) increased. GCL- Poly Energy Holdings Ltd plunged -17% after floating a plan to sell its solar wafer operations. Japanese exporters dropped as the yen strengthened. Toyota Motor Corp, which gets 31% of revenue in North America, dropped -1.5%. Fanuc Corp, a company that generates 23% of its revenue in North America, slid -1.5%. Nippon Telegraph & Telephone Corp slid -4.1% after cutting its profit forecast. Kansai Electric Power Co lost -3.2% on a report its biggest shareholder plans to sell its stake. Daihen Corp soared +8.2% after boosting its net income forecast for the full year by 11%.
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.