European stocks rose as several companies rallied on mergers and acquisitions activity. The ESTX 50 (+0.64%), UK Markets (+0.51%), CAC 40 (+0.70%) and the DAX (+0.58%) all posted gains in early trading. Alstom surged +13% after it was reported that General Electric Co has held talks to buy the French company. Telekom Austria jumped +6.7% after America Movil SAB agreed to share control of the company with the Austrian government. Technip SA added +5% after posting profit that beat predictions. Heineken NV gained +1% after posting sales growth that exceeded estimates. Air Liquide SA gained +2.1% after saying sales rose in the first three months of year. Anglo American Plc added +3.1% after saying first quarter iron-ore output jumped 10%. AstraZeneca Plc rose +2.8% after posting quarterly sales that exceeded analysts’ estimates. Unilever plc lost -1.1% after saying revenue growth slowed from the fourth quarter.
US stocks declined after disappointing earnings reports from several companies and an unexpected drop in home sales. The Dow Jones Industrial Average (-0.08%), S&P 500 (-0.22%) and the Nasdaq composite (-0.83%) all declined. AT&T Inc fell -3.8% as more customers opted to pay full price for smartphones in exchange for lower bills in the future. Boeing Co added +2.4% after profit topped estimates. Facebook rose +2.9% in extended trading after the company’s sales and profit exceeded analysts’ estimates. Apple Inc surged +8.3% after boosting its buyback to $90 billion and raised its dividend. The company also said it will do a seven for one stock split. EMC Corp declined -3.2% after cutting its earnings forecast for 2014 after reporting a drop in first quarter profit. Procter & Gamble Co slid -0.3% after posting third quarter revenue that missed expectations because of declines in its beauty and grooming businesses, as well as a strong dollar that reduced the value of its revenue abroad.
Asian stocks were mixed after an unexpected drop in US home sales signalled a housing recovery in the world’s largest economy is running out of steam. The Nikkei 225 (-0.97%) declined, while the Hang Seng (+0.21%) and the S&P/ASX 200 (+0.24%) both registered small gains. Toyota Motor Corp slid -1.4% pacing losses among Japanese exporters as the yen gained. Sony Corp sank -3.1% and Panasonic Corp fell -1.8%. Hyundai Motor Co fell -1.2% in Seoul after reporting first quarter profit that missed analysts’ estimates as a stronger won eroded export earnings. Kansai Electric Power Co sank -4.2% in Tokyo after saying it may take a long time to restart its nuclear reactors. Catcher Technology Co, which makes casings for iPhones, jumped +6.5% and Largan Precision Co, a supplier of lenses to Apple, rose +3.9% in Taipei.
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.