European stocks declined as investors awaited the outcome of a Federal Reserve meeting starting today. The ESTX 50 (-0.82%), FTSE 100 (-0.48%), CAC 40 (-1.02%) and the DAX (-0.49%) all posted losses in early trading. Zurich Insurance Group AG climbed +1.8% as Swiss Re Ltd’s CFO George Quinn quit to join Switzerland’s biggest insurer. Rexel SA lost -2% as Ray Investment SARL said it will sell a 7% stake in the company. Patrizia Immobillien AG slumped -6.5% after lowering its operating profit forecast for 2013 to €38 million to €41 million, compared with a previous prediction of at last €47 million. BHP Billiton Ltd lost -1% after suspending production at a nickel mine in Western Australia. Talvivaara Mining Co jumped +3.4% after it began reorganisation of a subsidiary. BP Plc retreated -1.2%.
US stocks rose as investors watched data to gauge the outlook for stimulus before a two day Federal Reserve meeting that starts tomorrow. The Dow Jones Industrial Average (+0.82%), S&P 500 (+0.63%) and the NASDAQ Composite (+0.71%) all advanced. General Motors Co climbed +3.5% after saying it plans to spend $1.3 billion to upgrade five US factories and may consider paying a dividend next year. LSI Corp jumped +39% after Avago Technologies Ltd agreed to buy it in a deal valued at $6.6 billion. Twitter Inc retreated -4.1% after Wells Fargo & Co downgraded the shares to “underperform” from “market perform”. American International Group Inc rose +1.1% agreeing to sell its plane leasing unit, International Lease Finance Corp, to AerCap Holdings for $5 billion. Exxon Mobil Corp rallied +2% after Goldman Sachs group Inc raised the stocks rating to “buy” from “neutral”, saying the stock is inexpensive relative to its own history and the company may see organic volume growth next year for the first time since 2006.
Asian stocks rose as investors await the outcome of a Federal Reserve meeting after reports showed manufacturing accelerated in the US and Europe. The Nikkei 225 (+0.83%) and the S&P/ASX 200 (+0.27%) both gained, while the Hang Seng (-0.20%) declined. Honda Motor Co, a company that gets 46% of sales in North America, climbed +0.7%. Dai-ichi Life Insurance Co rose +3.8% in Tokyo after Barclays Plc advised buying the shares. Daewoo Engineering lost -11% after South Korea’s Financial Supervisory Service received information that the company allegedly violated accounting rules. Envestra Ltd surged +4.7% after APA group agreed to buy the rest of the distribution company for the equivalent of A$1.17 a share.
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.