European stocks rose this morning on speculation that central banks will remain accommodative. The ESTX 50 (+0.37%), CAC 40 (+0.37%), Dax (+0.60%) and the UK markets (+0.42%) all posted gains in early trading. Vestas Wind Systems A/S surged +12% after raising its annual guidance. NN Group NV, spun off by ING Groep NV through an initial public offering two years ago, rallied +4.8% as its Solvency II ratio, a measure of capital buffers, rose. Jyske Bank A/S advanced +4.2% after raising its share buyback program. DFDS A/S jumped +7.9% after posting earnings that beat projections. Airbus Group SE dropped -1.2% after Bank of America Corp lowered its rating on the shares to the equivalent of “sell”.
US stocks close slightly higher after minutes from the Federal Reserve’s last policy meeting showed voting members divided over whether to raise interest rates soon. The Dow Jones Industrial Average (+0.12%), S&P 500 (+0.19%) and the Nasdaq Composite (+0.03%) all increased. While policy makers agree that more economic data is needed before raising rates, some expect a hike will be needed soon, according to the minutes from the US central bank’s July 26-27 policy meeting. Shares of Target fell -6.4% and Lowe’s dropped -5.6% after they cut full year earnings forecasts. Cisco fell -1.3% after CRN reported the company is laying off employees. After the bell, Cisco edged even lower following its results and its announcement to lay off 5,500 employees, or nearly 7% of its work force.
Asian stocks outside Japan rose after Federal Reserve meeting minutes showed officials were divided over the urgency to raise interest rates. The S&P/ASX 200 (-0.49%) and the Nikkei 225 (-1.55%) both declined, while the Hang Seng (+0.98%) increased. Shares in Tokyo slipped as the yen strengthened past 100 per dollar. Tencent jumped +5.2% after announcing that second quarter sales and profit beat analysts’ estimates after the operator of social network services splashed out on mobile games and content. Ping An, advanced +2.6% after saying its first half profit rose 18%. Lenovo climbed +2.8% after posting a 64% gain in first quarter profit as it cut costs and was helped by new Motorola smartphone models.
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.