European stocks advanced as investors awaited minutes from the BoE’s last meeting. The ESTX 50 (+0.27%), UK Markets (+0.21%), CAC 40 (+0.23%) and the DAX (+0.08%) all advanced. Admiral Group Plc rose +3.5% after Numis Securities Ltd raised the company to “buy”. Sage Group Plc gained +3.1% after saying its first quarter performance matches its expectations. ABB Ltd retreated -3.3% after saying charges from project delays and operational issues will hurt profit. ASML Holding rose +3.2% after saying it plans to raise its 2013 dividend by 15%. Rautaruukki Oyj soared +28% after SSAB AB said it plans to buy the Finnish steelmaker.
US stocks swung between losses and gains as results from several companies disappointed investors. The Dow Jones Industrial Average (-0.27%) declined, while The S&P 500 (+0.28%) and the NASDAQ Composite (+0.67%) both advanced. Johnson & Johnson dropped -2.3% after its earnings forecast trailed analysts’ estimates. Verizon Communications Inc slipped -2.9% as subscriber growth slowed from a record. Dow Chemical Co rallied +4.9% after Third Point LLC took a stake. Alcoa rallied +5.9% after JPMorgan Chase & Co recommended buying the stock. Travelers fell -1.7% despite posting a profit that beat expectations, though investors worried about the insurance providers margins. BlackBerry Ltd provided the biggest boost to the Nasdaq, jumping +9.4% as short sellers bailed out of the company. The stock is up about 33% in 2014. Delta Air Lines rose +3.3% after it reported a higher than expected fourth quarter profit, aided by lower fuel costs.
Asian stocks rose as the Bank of Japan pledged to maintain economic stimulus and the IMF raised its global growth forecast. The Nikkei 225 (+0.16%) and the Hang Seng (+0.21%) both increased, while the S&P/ASX 200 (-0.22%) declined. Tokyo Steel Manufacturing Co jumped +5% after returning to profit. TDK Corp advanced +6.3% after Nomura Holdings Inc raised its price target on the shares of the company. Newcrest Mining Ltd slipped -3.1% as gold bullion’s price traded near a two week low. MGM China Holdings Ltd slumped -7.3%, leading declines among Macau casinos in Hong Kong as JPMorgan Chase & Co cut its rating on the stock. Okuma jumped +6.5% after Mizuho raised its rating on the stock to “buy” from “underperform” on the outlook a weaker yen will boost earnings.
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.