European shares advanced after the US Federal Reserve said it would slow the pace of its bond buying. The ESTX 50 (+0.52%), UK Equities (+0.44%), CAC 40 (+0.31%) and the DAX (+0.57%) all posted gains in early trading. Carnival Corp advanced +3.1% after Credit Suisse Group AG and Natixis SA raised their ratings on the shares after posting fourth quarter profit that beat analysts’ estimates. BAE Systems Plc retreated -4.9% after it said the United Arab Emirates stopped talks to buy its combat planes. Telenet rose +2.6% after Goldman Sachs raised its rating on the stock to “buy” from “neutral”, citing growth prospects. Marks & Spencer and Tesco Plc both rose +1.7% as a gauge of UK retailers climbed for a second day.
US stocks retreated as investors weighed economic data that included jobless claims and home sales. The S&P 500 (-0.06%) and the NASDAQ Composite (-0.29%) retreated, while the Dow Jones Industrial Average (+0.07%) gained. Facebook Inc lost -1% after saying the company and some shareholders, including CEO Mark Zuckerberg, will sell 70 million shares. Oracle Corp rose +5.8% after forecasting third quarter sales and profit in line with analysts’ estimates. Target Corp dropped -2.2% after saying data for about 40 million debit and credit cards may have been wrongfully accessed in recent weeks and that the police are investigating the matter. Chevron Corp jumped +1.3% for the biggest advance in the Dow. International Business Machines Corp rose +0.9%. Accenture Plc gained +5.1% after reporting quarterly profit that topped estimates as demand for its expertise resurfaced in the US and Europe.
Asian stocks swung between losses and gains as Chinese shares slid on concern funding costs for lenders will remain high even after the central bank injected liquidity. Japanese shares rose as the yen reached a five year low. The Nikkei 225 (+0.07%) and the S&P/ASX 200 (+1.21%) both gained, while the Hang Seng (-0.32%) declined. Mazda Motor Corp, a company that gets 73% of sales abroad, climbed +3.5%. Telstra Corp rose +1.8% after agreeing to sell its Hong Kong mobile phone business. Hanwha Chemical Corp climbed +2.9% in Seoul as Hana Daetoo Securities said the solar energy industry will see strong demand into next year. China Everbright Bank Co slumped -2.8% on its debut in Hong Kong after raising $3 billion in the city’s biggest initial public offering this year.
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.