European stocks rose as investors waited for Federal Reserve to decide whether to reduce its monthly asset purchases. The ESTX 50 (+0.76%), FTSE 100 (+0.33%), CAC 40 (+0.59%) and the DAX (+0.77%) all posted gains in early trading TUI gained +3.2% after posting net income of €4.3 million for the financial year ended 30th September. The average analyst estimate had called for a loss. Elektrobit surged +17% after forecasting operating profit of about €8 million in 2013. Technip slid -7.6% after saying the operating margin for its subsea division will drop to about 5% before recovering to at least 12% next year. It has forecast a 14% margin for the unit in 2013. Persimmon Plc gained +2.3%. Marks & Spencer Group Plc lost -2.5% after UBS AG downgraded the shares.
US stocks fell before Federal Reserve policy makers announce plans for their monthly bond buying program. The Dow Jones Industrial Average (-0.06%), S&P 500 (-0.31%) and the NASDAQ Composite (-0.14%) all declined. Tenet Healthcare Corp fell -1.9% after Citigroup Inc said the industry’s November admissions were the weakest ever. 3M Co advanced +2.9% after the company projected a 2014 profit in a range whose top end exceeded analysts’ estimates. Boeing Co climbed +0.9% after authorising the largest share buyback in its history and boosting its dividend. Visa Inc climbed +2.7% after Susquehanna International Group said concern that Visa was losing position to MasterCard Inc was overdone. MasterCard Inc gained +0.2%. Frontier Communications Corp jumped +8.6% after agreeing to buy AT&T Inc’s Connecticut landline business and statewide fibre-optic network for $2 billion in cash to focus on more lucrative wireless services.
Asian stocks rose, led by an advance in Japanese equities, as the declining yen boosted exporters and investors await a Federal Reserve decision on its stimulus program. The Nikkei 225 (+2.02%) and the Hang Seng (+0.32%) both gained, while the S&P/ASX 200 (-0.14%) declined. Honda Motor Co, which gets 80% of its sales abroad, gained +3.1% as the yen weakened against the dollar. Toyota Motor Corp added +1.6%. Casio Computer Co climbed +5.7% in Tokyo after Morgan Stanley upgraded its recommendation on the shares to “overweight”. Wotif.com Holdings Ltd slumped -32% after the Australian online travel company said it will report lower profit. Hutchison Whampoa Ltd gained +3.3% after it was reported that its retail arm would be valued at more than $20 billion in an initial public offering.
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.