European shares were mixed this morning as a few companies revised their earnings forecasts and mining stocks continued to fall in the wake of weak China data. The ESTX 50 (+0.08%), Dax (+0.04%) and the UK markets (+0.07%) all posted small gains, while the CAC 40 (-0.20%) decreased. Actelion rose +4% after it raised its full year earnings forecast as sales of its new treatment for pulmonary arterial hypertension beat analysts’ expectations. Whitbread and Assa Abloy AB added +3.2% after posting earnings that beat analysts’ estimates. A report showed Swiss watch exports had their biggest quarterly decline since 2009, sending shares of Swatch Group AG and Cie Financiere Richemont SA at least -1.5% lower.
US stocks gained, helped by an advance in tech and biotech companies. The Dow Jones Industrial Average (+0.08%), S&P 500 (+0.03%) and the Nasdaq Composite (+0.38%) all increased. The Dow and S&P 500 pared losses late in the session while the Nasdaq added to gains. Nike was up +2.1%, which helped the Dow. While gains in Apple and Intel supported all three major indexes. Intel was up +1.7%, while Apple was up +0.6%. After the bell, shares of IBM dropped -4.9%, while Rambus fell -10.2% to $12.48, following results. Exxon slipped -1.8% and Chevron fell -1.4%, the biggest drags on the S&P 500 and the Dow, after US crude oil fell 2.9%. Morgan Stanley’s shares fell -4.8% after announcing profit that fell for the second straight quarter, capping mostly downbeat quarterly results from major US banks.
Asian stocks fell as energy and material shares led losses and casino stocks trading in Hong Kong slumped. The Hang Seng (-0.44%) and S&P/ASX 200 (-0.65%) both decreased, while the Nikkei 225 (+0.42%) increased. BHP Billiton Ltd., the world’s largest mining company, slipped -2.9% in Sydney as commodity companies extended Monday losses. Wynn Macau Ltd sank -0.5% in Hong Kong as gaming revenue at Macau casinos dropped. Gold futures dropped the most this month, dragging Newcrest Mining Ltd down -5.1% in Sydney. Tokyo Electric Power Co tumbled -4.5% in Tokyo as NHK reported that Japan’s Health Ministry said for first time that leukemia in an employee who worked at its Dai-Ichi power plant resulted from the March 2011 nuclear disaster.
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.