European stocks fell as investors awaited a report which is expected to show German investor confidence slumped to its weakest level in over 2 years. The ESTX 50 (-0.26%), UK markets (-0.26%), CAC 40 (-0.29%) and the Dax (-0.03%) all posted losses in early trading. SABMiller Plc slipped -1.6% after posting first half revenue growth that trailed estimates. Iliad SA rallied +12% after abandoning a plan to buy a majority stake in T-Mobile US Inc after an improved bid was rejected by owner Deutsche Telekom AG. Burberry fell -4.5% after forecasting downward pressure on profit margins. Mulberry Group plunged -25%.
US stocks sank as investors weighed prospects for slowing global growth and the spread of Ebola. The Dow Jones Industrial Average (-1.35%), S&P 500 (-1.65%) and the Nasdaq composite (-1.46%) all retreated. Merck lost -4.3% for the biggest decline in the Dow. JPMorgan, which is forecast to report an 8% drop in adjusted third quarter earnings per share tomorrow, declined -0.6% after earlier gaining more than 1%. CSX Corp rallied +5.9% for its biggest gain since 2012 after Canadian Pacific Railway Ltd was rebuffed after approaching CSX with a merger proposal. QEP Resources Inc lost -9.2% and LyondellBasell Industries NV, AutoNation Inc, Newfield Exploration Co and Halliburton sank more than -7% for the biggest losses in the S&P 500 as 446 of its companies retreated.
Asian stocks fell continuing a retreat in global equities after the S&P 500 capped its biggest three day loss since 2011. The Nikkei 225 (-2.38%) and Hang Seng (-0.19%) both declined, while the S&P/ASX 200 (+1.01%) gained. Japanese exporters and banks suffered. Toyota Motor sank -3.9%. Mitsubishi UFJ Financial Group Inc dropped -2% and Sumitomo Mitsui Financial Group Inc declined -2.3%. ANA Holdings lost -5.3% and Japan Airlines Co declined -5.5%. SoftBank lost -3.1% to close at its lowest level since August. Tokyo Electron Ltd slumped -6.7% following a selloff in semiconductors in the US. Chow Tai Fook Jewellery Group Ltd, which had shut some of its shops amid the city’s unrest, advanced +1.4%. Agile Property Holdings climbed +4.6%, after plunging -17% in the previous session. Cnooc Ltd fell -3.1% as crude prices extended losses.
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.