European stocks were mixed ahead of today’s ECB meeting at which it is expected that President Mario Draghi will announce quantitative easing measures. The ESTX 50 (-0.24%), CAC 40 (-0.46%) and Dax (-0.42%) posted losses in early trading, while the UK Markets (+0.13%) were slightly up. Logitech International SA rallied +7.4% after company reported third quarter sales that beat estimates and raised its 2015 profit. Balfour Beatty Plc dropped -1% after an external review of its UK construction unit prompted the company to cancel a share buyback program of as much as £200 million. It also said 2014 profit at the business will fall short of its previous forecast. Banks and energy shares were among the biggest contributors to this morning’s gains. Technip SA and Saipem SpA gained more than +2.5% each. Bankiter SA climbed +1.1% after reporting a rise in fourth quarter profit.
US stocks rose as investors digested reports that new stimulus would be announced by the ECB in today’s meeting. The Dow Jones Industrial Average (+0.21%), S&P 500 (+0.47%) and the Nasdaq Composite (+0.27%) all increased. IBM fell -3.1% after reporting lower than expected revenues and giving a 2015 profit target that was below estimates. UnitedHealth Group Inc rose +3.5% after its fourth quarter earnings topped estimates. Netflix Inc jumped +17.3% a day after posting earnings that were above expectations and said it was growing faster overseas than previously expected.
Asian stocks gained as investors awaited an ECB decision today on quantitative easing strategy and Chinese shares rallied as the People’s Bank of China pumped funds into the financial system. The Nikkei 225 (+0.28%), Hang Seng (+0.70%) and S&P/ASX 200 (+0.49%) all advanced. Bridgestone Corp sank -1.7% as tyre manufacturers led a decline among Japanese shares. JG Summit Holdings Inc tumbled -11% in Manila after the company raised $200 million selling discounted shares. China Vanke Co and Poly real Estate Group Co climbed more than +2% in mainland trading after a report China may allow companies to deduct costs for newly purchased real estate from taxes 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.