European stocks declined as several sectors tumbled in early trading. The ESTX 50 (-1.13%), CAC 40 (-1.01%), Dax (-0.92%) and the UK markets (-0.21%) all posted losses this morning. Vopak, the world’s largest independent storage tank operator, was down more than -2% after it reported first half results. William Hill rose +5% after saying that operating profit for 2016 would be at the higher end of its forecast. Nibe jumped +4.3% after reporting a pretax profit just above forecast. A.P.Moeller-Maersk A/S rose +0.9% after saying it’s still considering several options in its strategic review after a local newspaper reported that the company was exploring a two-way split into an energy and a transport company.
US stocks rose as Brent oil’s rise above $50 a barrel boosted energy shares and an upbeat outlook lifted Wal-Mart to a 14 month high. The Dow Jones Industrial Average (+0.13%), S&P 500 (+0.22%) and the Nasdaq Composite (+0.22%) all advanced. Data on Thursday showed the number of American’s filing for unemployment benefits fell more than expected last week. Wal-Mart rose +1.9% after the retailer reported a better than expected quarterly profit and raised its fiscal year outlook. The upbeat forecast followed disappointing outlooks from Target and Lowe’s the previous day. Cisco fell -0.8% after saying it would cut 5,500 jobs and gave a disappointing forecast. NetApp jumped +17.4% after its quarterly results beat expectations.
Asian stocks were mixed, as early gains were erased as consumer and health care shares declined. The S&P/ASX 200 (+0.34%) and the Nikkei 225 (+0.36%) both gained, while the Hang Seng (-0.37%) declined. Fujitsu Ltd jumped +9.3% after JPMorgan Chase & Co upgraded its rating on the company’s stock to “overweight” from “neutral”. Hitachi Ltd advanced +2.1% after saying it won an order for a proton-beam cancer therapy system from the National Cancer Centre Singapore. Toyota Motor Corp rose +2.1% as most Japanese car makers advanced. Honda Motor Co added +3.5% and Mazda Motor Corp increased +2.3%.
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.