European stocks were mixed as investors awaited data on US jobless claims. The ESTX 50 (-0.07%) and the CAC 40 (-0.15%) both posted small losses in early trading, while the Dax (+0.14%) and the UK markets (+0.02%) posted small gains. Wm Morrison Supermarkets Plc gained +4.2% after reporting first half profit that beat analysts’ estimates. Air France-KLM Group added +2.6% after saying it plans to grow earnings by as much as 10% a year between 2013 and 2017. Rio Tinto lost -0.6% and BHP Billiton declined -0.4%, as iron futures in China and Singapore added to recent steep losses, amid abundant supply and slower growth in Chinese demand that have slashed spot prices of the steelmaking raw material by nearly 40% this year. Lloyds gained +1.3% and RBS rose +2.1% after survey late yesterday showed 53% of Scots intended to vote against splitting away from the UK.
US stocks rose as Apple rallied to boost technology shares while investors continued to speculate on the timing of interest rate increases. The Dow Jones Industrial Average (+0.32%), S&P 500 (+0.36%) and Nasdaq Composite (+0.75%) all increased. Apple jumped +3.1% as it rebounded from declines after unveiling new products yesterday. Garmin rebounded +4% after the introduction of the Apple Watch, which will include apps for maps. Palo Alto Networks Inc advanced +11% after reporting sales that surpassed analysts’ estimates. Twitter Inc climbed +4.5% after UBS AG raised its rating on the company to “buy” from “neutral”. EBay slipped -3.1% after Piper Jaffray downgraded the stock to “neutral” from “overweight”.
Asian stocks fluctuated as investors weighed Chinese inflation data. Japanese shares extended their rally from 2008 high, hile consumer and energy stocks slid. The S&P/ASX 200 (-0.51%) and the Hang Seng (-0.14%) both declined, while the Nikkei 225 (+0.76%) increased. Seven & I Holdings Co slid -1.7%. Cnooc Ltd fell -1.9%. Myer Holdings Ltd slumped -13% after reporting full year profit that missed estimates. SK Holdings Co surged +6.3% after announcing a share buyback. Toyota Motor Corp, a company that gets three quarters of its sales overseas, added +0.8%. SoftBank Corp jumped +2.9% after unit Sprint Corp shares surged yesterday on introducing an “iPhone for Life” plan to win back customers.
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.