US equities were firmer once again, buoyed by strong quarterly results from Coca Cola. The drinks company rose 3.75% as global sales volume rose 2% and with cost cutting also ahead of expectations, there is also stronger momentum into Q2 trading. In after hours trading, there appeared to be a strong jump in both Yahoo and Intel which reported late in the day. Other gainers included Johnson & Johnson up 2.1%, Microsoft up 1.45% and Conoco up 2%. On the negative side, Newmont Mining was down 2.3%, Ultra Petroleum was down 1.4% and Toll Brothers lost 1.1%.
Europe is also stronger this morning, with UK supermarket giant, Tesco, up 3.65% on relief that results were not as bad as some investors feared. The retailer has been facing a squeeze from discounters such as Aldi and Lidl. Europe’s largest semiconductor company, ASML Holdings, is down 4.5% on revenues that missed analyst forecasts. The company cited uncertainties in next generation device designs. Other fallers include Heineken down 1.1%, Credit Suisse down 2.1% and Danone down 1.8%. On the risers, Commerzbank is up 2.3%, International Consolidated Airlines is up 3% and B.P is up just over 1%.
Asia was strong overnight with the Nikkei index in Japan up 3%. Yahoo Japan was up over 4%, Softbank rose 8.5% and Daihatsu Diesel was nearly 8% higher. In Australia, there was focus on the mining sector with sharp falls in gold exposed companies. Newcrest lost nearly 1%, Northern Star fell nearly 2% and Beadell declined 3%. One of the giants of the sector reported earnings, with BHP Billiton up 0.4% on positive iron ore production guidance. In Hong Kong, Wynn Macau was down 2.5% on fears that high end casinos may slow as the Chinese economy cools.
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.