European stocks were little changed as investors awaited a policy decision by the Federal Reserve. The ESTX 50 (-0.08%), UK Markets (-0.23%) and the CAC 40 (-0.18%) posted small declines, while the DAX (+0.25%) increased. Inditex SA added +4% after posting 2013 profit in line with analysts’ estimates. Brenntag AG rose +1.5% after proposing a stock spilt and announcing a payout that exceeded the Bloomberg Dividend forecast. Barclay’s Plc climbed +0.7% after it was reported that it plans to sell its index business. Ophir Energy Plc tumbled -16% after saying it discovered little evidence of hydrocarbons at a well in Gabon. HeidelbergCement AG declined -2.3% after saying net debt at December 31st 2013 rose to €7.5 billion as it increased investment and paid a fine for cartel infringements dating back to the 1990’s. Antofagasta Plc dropped -3.3% and Smiths Group Plc lost -6% for the biggest declines in the UK.
US stocks climbed as housing data bolstered confidence in the economy and Vladimir Putin said Russia isn’t seeking to split Ukraine. The Dow Jones Industrial Average (+0.55%), S&P 500 (+0.72%) and the NASDAQ Composite (+1.25%) all advanced. Microsoft jumped +3.9% after it was reported that the CEO will begin unveiling his vision for the company when he debuts a version of office for the iPad and offers some features of the application for free at an event next week. Hewlett-Packard added +3.7% after Barclays said HP’s servers may gain market share from IBM Corp and Lenovo Group Ltd. General Motors Co climbed +1.6% after CEO Mary Barra promoted 40 year engineering executive Jeff Boyer to a new global vehicle safety position, as scrutiny intensifies on a flaw linked to 12 deaths. D.R.Horton Inc added +1.8% and Lennar Corp gained +1.4% as housing data improved. Michael Kors Holdings Ltd slipped -1.8% after Barclays initiated coverage of the luxury retailer with an underweight rating a price forecast of $85, 14% below yesterday’s closing price.
Asian stocks were mixed as investors weighed company earnings and awaited the Federal Reserve’s policy statement. The Nikkei 225 (+0.36%) and the S&P/ASX 200 (+0.21%) both gained, while the Hang Seng (-0.07%) declined. Uni-President China Holdings Ltd slumped -7.9% in Hong Kong after the reporting 2013 profit that missed analyst projections. Country Garden Holdings Co slumped -12% after the developer’s CFO resigned. Kingsoft Corp jumped +8.7% to a record close after the company posted earnings that beat estimates. Fanuc Corp rose +3.2% in Tokyo after Credit Suisse Group AG said it’s a good time to buy the industrial robot manufacturer’s shares. Galaxy Entertainment Group Ltd dropped -2.8% after the Macau casino operator reported fourth quarter adjusted earnings that was below the average estimate of analysts compiled by Bloomberg.
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.