European stocks were mixed as gains in miners outweighed a drop in telecommunications shares. The ESTX 50 (-0.01%) and the CAC 40 (+0.02%) were both flat, while the UK markets (+0.87%) was up and the Dax (-0.18%) was down. K+S AG climbed +3.3% after saying earnings this year will significantly exceed last year’s figures on higher prices. Deutsche Lufthansa AG rose +1.5% after saying operating profit will rise this year. Asos Plc rallied +12% after reporting second quarter sales that beat analysts’ estimates. Wm Morrison Supermarkets Plc lost -1.8% after lowering its 2015 dividend. The company said it plans to pay a dividend of at least 5 pence a share, a 63% decrease. Serco Group plc slid -11% after saying it will raise £555 in an underwritten rights offering at £1.01. BHP Billiton Ltd and Rio Tinto Group gained more than 1%. BT Group Plc fell -1.6% after the UK’s industry regulator said it will hold its second major assessment of the sector.
US stocks ended lower for a second straight session on Wednesday as worries grew about the timing of a Federal Reserve interest rate hike and dollar strength further dampened the outlook for US earnings. The Dow Jones Industrial Average (-0.16%), S&P 500 (-0.19%) and the Nasdaq Composite (-0.20%) all retreated. Tyson Foods were down -5.6% and Pilgrims Pride Corp dropped -4.4% after the US Department of Agriculture confirmed the discovery of highly pathogenic avian influenza in a commercial turkey flock in Arkansas. After the bell, shares of major banks were active following the Fed’s review of their capital plans. Shares of Bank of America were down about -1% after the Fed approved its capital plans but directed the bank to address process weaknesses. Citigroup jumped +3.1% and Morgan Stanley gained +3.1%.
Asian stocks advanced as banks climbed and the Nikkei 225 rose to an almost 15 year high. The Nikkei 225 (+1.43%), Hang Seng (+0.34%) and the S&P/ASX 200 (+0.98%) all gained. Nissan Motor Co, a company that gets 77% of revenue overseas, added +2.8%. Bank of Communications Co and China Construction Bank Corp gained at least -2% each in Hong Kong after mainland credit data beat estimates. Industrial Bank Co jumped +9.6% after indicating it will move into securities as soon as regulators allow Chinese lenders to act as brokerages. Fast Retailing Co rose +1.3% and Fanuc Corp added +2.3%.
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.