European stocks were mixed after advancing for four days on optimism that the ECB will step up stimulus measures at its meeting tomorrow. The ESTX 50 (-0.14%), CAC 40 (-0.15%) and the Dax (-0.25%) all declined, while the UK markets (+0.62%) advanced in early trading. ASML Holding NV climbed +4.4% after forecasting first quarter sales that topped analysts’ estimates and announcing a new €1 billion share buyback program. Alstom SA advanced +3.5% after posting an increase in third quarter revenue. Pearson Plc added +2.8% after annual earnings exceeded some analysts’ projections. Dixons Carphone plc rose +1.7% after forecasting full year profit ahead of analyst estimates. Sports Direct International Plc fell -4.3% after Mike Ashley sold a stake. JD Wetherspoon Plc dropped -3.5% after saying profitability will decline.
US stocks rose as gains from technology companies helped offset concerns that global growth is slowing. The Dow Jones Industrial Average (+0.02%), S&P 500 (+0.15%) and the Nasdaq Composite (+0.44%) all advanced. Yahoo! Inc, Micron Technology Inc and Apple each gained more than +2.3% to lead technology shares higher. Netflix surged +13% in late trading after adding more subscribers than analysts forecast. Delta Air lines Inc climbed +7.3% after earnings beat projections. Johnson & Johnson tumbled -2.6% after forecasting lower earnings in 2015 as competition cuts into revenue for some of its best selling treatments. Morgan Stanley lost -0.4% after reporting profit that missed analysts’ estimates as fixed income trading revenue fell to the lowest since the financial crisis.
Asian stocks advanced as technology and financial shares climbed ahead of a European Central Bank meeting. The S&P/ASX 200 (+1.61%) and the Hang Seng (+1.68%) both advanced, while the Nikkei 225 (-0.49%) declined. Citic Securities Co surged +6% in Hong Kong, pacing gains among Chinese brokerages. Air China Ltd jumped +7.4% after UBS AG called the stock its top pick among mainland airlines. Konami Corp climbed +6.8% in Tokyo after Goldman Sachs Group Inc raised its rating on the company. Newcrest Mining Ltd increased +4.1% as the price of gold rose to a five month high.
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.