European shares fell this morning, with travel and leisure stocks leading the market lower after explosions hit the airport in Brussels. The ESTX 50 (-1.21%), CAC 40 (-1.22%), Dax (-1.19%) and the UK markets (-0.94%) all posted losses in early trading. EasyJet Plc, Air France-KLM Group and Ryanair Holdings Plc dropped at least -3.3% following explosions at Brussels airport that saw the airport evacuated and flights diverted. Banco Popolare SC lost -6.5% after it was reported that it is planning to raise about €1 billion through a share sale, bad loan and asset disposals to meet the ECB’s approval for a merger with Banca Popolare di Milano Scarl. Thomas Cook Group Plc lost -4.3% after saying 2016 summer bookings have been lower than last year. Partners Group Holdings AG gained +3.9% after its sales and earnings exceeded estimates.
US stocks closed little changed as investors searched for fresh catalysts and showed concerns about fully extended share prices. The Dow Jones Industrial Average (+0.12%), S&P 500 (+0.10%) and the Nasdaq Composite (+0.28%) all made modest increases. Valeant closed up +7.4% after it announced the departure of its CEO, and sail Bill Ackman had joined its board, as it tries to clean up accounting problems and save its business. Sherwin-Williams fell -5.3% after it agreed to buy rival Valspar. Valspar jumped +23.1%. Starwood rose +4.5% after accepting a higher offer from Marriott that beat an all cash offer by a group led by Anbang Insurance Group. Marriott dropped -1.2%.
Asian stocks were mixed, despite a rally in Japan and as crude held above $41 a barrel. The Hang Seng (-0.08%) and the S&P/ASX 200 (-0.32%) both decreased, while the Nikkei 225 (+1.94%) rallied. Toyota Motor Corp jumped +3.6%, pacing gains among Japanese exporters as the yen maintained losses. Nintendo Co soared +8.2% after its first smartphone game was downloaded more than a million times since being released last week. Noble Group Ltd surged +9.7% in Singapore as raw materials recover and speculation mounted that the company will soon refinance some of its borrowings. HTC Corp slumped -9.8% in Taipei after Daiwa Securities Group Inc recommended investors sell the shares of the company.
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.