European stocks were little changed as investors weighed a mix of corporate earnings and awaited the European Central Bank’s meeting. The ESTX 50 (+0.15%), CAC 40 (+0.06%) and the Dax (+0.19%) all posted small gains in early trading, while the UK markets (-0.40%) were down. Unilever gained +1.7% after its quarterly sales growth beat estimates. ABB Ltd advanced +1.7% after saying China continued to invest in large projects and reported earnings that topped projections. Deutsche Lufthansa AG dropped -7.2% after cutting its 2016 profit forecast. Tate & Lyle Plc added +1.8% after saying net debt dropped while profit excluding currency effects rose in the latest quarter. Actelion Ltd gained +2.4% after increasing its annual profit forecast.
US stocks gained as Microsoft’s strong results boosted the indexes and marked the latest sign that US corporate earnings season may be less dour than feared. The Dow Jones Industrial Average (+0.19%), S&P 500 (+0.43%) and the Nasdaq Composite (+1.06%) all increased. Microsoft surged +5.3% after posting sharp growth in its cloud computing business. Morgan Stanley closed +2.2% up after its profit topped analysts’ estimates, rounding off upbeat results from the six biggest Wall Street banks. Abbott Laboratories rose +2% after reporting better than expected quarterly sales and profit. After the market closed, Intel shares slipped -3% following release of its results.
Asian stocks climbed, helped by a recovery in global oil prices and as expectations for a stimulus package in Japan weakened the yen and better than anticipated corporate earnings in the US eased concerns over global growth. The S&P/ASX 200 (+0.43%), Hang Seng (+0.54%) and the Nikkei 225 (+0.77%) all increased. Nintendo Co climbed +0.9%. The stock has risen +95% since releasing the Pokemon Go mobile app on July 6 after the game became an instant hit. Mitsumi Electric Co advanced +14%, leading gains in electric appliance manufacturers. New World Development gained +2% after Credit Suisse lifted its rating on the company to “outperform” from “neutral”.
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.