European stocks advanced as investors awaited the Federal Reserve’s meeting tomorrow. The ESTX 50 (+0.15%), CAC 40 (+0.15%), Dax (+0.55%) and the UK markets (+0.29%) all posted gains in early trading. Stocks in Europe have oscillated amid mixed economic data and signs that central banks may no longer be willing to unquestionably increase measures to stimulate growth. Regus Plc tumbled -6.1% as founder Mark Dixon sold 37 million shares. IG Group Holdings Plc slid -3.9% after saying that the first quarter was challenging as subdued financial markets in July and August offered limited trading opportunities. Bayer AG climbed +1.5% after raising the peak sales forecast for its new treatment portfolio.
US stocks were little changed with gains in banks offsetting a drag from Apple, as investors braced for the Federal Reserve meeting later this week. The Dow Jones Industrial Average (-0.02%), S&P 500 (0.00%) and the Nasdaq Composite (-0.18%) all finished trading pretty much flat. The Fed is expected to leave interest rates unchanged at the two day meeting, but investors will assess Janet Yellen’s speech on Wednesday to see if the central bank plans to hike as soon as December. Apple shares shed -1.2% after registering huge gains last week. JPMorgan, Bank of America and Wells Fargo all posted gains. Sarepta Therapeutics shares rocketed +73.9% after US regulators approved its key muscle disorder treatment.
Asian stocks registered small changes as Japanese shares swung between gains and losses ahead of this week’s policy decisions from the Federal Reserve and the Bank of Japan. The S&P/ASX 200 (+0.17%) gained, while the Hang Seng (-0.08%) and the Nikkei 225 (-0.16%) both declined. Hong Kong Exchanges & Clearing Ltd gained +1.5% after Goldman Sachs Group Inc raised the stocks rating to “neutral” from “sell”, citing increased volumes and the recent price rally. Cheung Kong Property Holdings Ltd retreated -1.7% after the regional head of property research at CLSA Ltd said home prices are expected to drop 7% next year because of increased supply and slower economic growth.
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.