European stock markets declined this morning as shares in Deutsche Bank fell, weighing on the broader European banking sector. The ESTX 50 (-0.39%), CAC 40 (-0.33%), Dax (-0.21%) and the UK markets (-0.21%) all posted losses in early trading. Deutsche Bank fell -2.8%, with traders expressing disappointment at a lack of progress in the company’s battle against a demand by US authorities for up to $14 billion over misselling allegations. Deutsche Bank shares remain down by around 50% so far in 2016. Air France KLM weakened by -1.1% after traders said its September traffic figures were a bit weaker than expected. Lufthansa fell -1.6%. EasyJet fell -3.4% after SocGen cut its rating on the stock to “sell” from “hold”. William Hill climbed +4.5% after saying it was in merger talks with Canadian peer Amaya.
US stocks slipped on Friday as a drop in sterling injected unwanted volatility to financial markets, while a weaker than expected jobs report was not enough to derail expectations for a rate hike from the Federal Reserve before the end of the year. The Dow Jones Industrial Average (-0.15%), S&P 500 (-0.33%) and the Nasdaq Composite (-0.27%) all retreated. Honeywell dropped nearly -9% and was the biggest drag on the S&P 500, after the aero parts supplier lowered the upper end of its 2016 sales and profit forecast. PPG dropped -8.3% after forecasting a third quarter loss and Tyson Foods plunged -8.9% after Pivotal Capital downgraded its stock to “sell” from “buy”.
Asian stocks were mixed following the second US presidential debate between Hilary Clinton and Donald Trump. The S&P/ASX 200 (+0.15%) rose, while the Hang Seng (-0.42%) and the Nikkei 225 (-0.23%) both declined. UGL Ltd surged +48% in Sydney after Cimic Group Ltd, the Australian construction company controlled by Germany’s Hochtief AG, offered to buy the rest of the engineering form in a deal valuing it at $398 million. Samsung Electronics Co fell -3.2% after temporarily halting production of its Note 7 smartphones after US carriers suspended sales and exchanges of the troubled device.
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 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.
Morning Spread 26th September 2016 Asian shares declined following losses on Wall Street as investors attention turned from central banks to American politics ahead of the first US presidential debate.