European stocks were little changed as investors awaited reports on German business sentiment and US consumer confidence. The ESTX 50 (+0.13%), CAC 40 (+0.16%) and the Dax (+0.06%) all posted modest gains in early trading , while the UK markets (-0.05%) were slightly down. Syngenta advanced +5.4% after it was reported that Monsanto Co had considered taking over the Swiss company. Shire Plc added +1.2% after a report that it had hired Goldman Sachs Group Inc as it faces potential offers. Imagination Technologies Group Plc advanced +7.1% after forecasting a high level of licensing activity for the full year. Altice SA dropped -5.5% after announcing a $1.3 billion share sale. Aviva Plc lost -1.2% after UBS AG cut its rating on the company. BG Group Plc and Tullow Oil Plc climbed more than +1% each.
US stocks declined after a strong opening and failed to gain traction from a report showing purchases of previously owned homes in the US rose more than projected. The Dow Jones Industrial Average (-0.06%) declined, while the S&P 500 (-0.01%) and the Nasdaq Composite (+0.01%) were flat. General Electric fell -1.1% after clinching the $17 billion purchase of Alstom SA’s energy assets. FMC Corp dropped -4.9% after cutting its 2014 profit forecast. Integrys Energy Group Inc jumped +12% after Wisconsin Energy Corp agreed to pay $5.7 billion for the company. Micros Systems rose +3.4% as Oracle Corp offered to buy it for a $68 a share. Lululemon Athletica Inc rose +2.5% after saying it is working to improve its product line and improve value for shareholders.
Asian stocks rose as utilities advanced and Hong Kong stocks rebounded from yesterday’s slump. The Nikkei 225 (+0.05%) and the Hang Seng (+0.43%) both gained, while the S&P/ASX 200 (-0.38%) retreated. GAIL India Ltd, an Indian distributor of natural gas, jumped +3.8%, helping lead power companies higher. Coolpad Group Ltd jumped +8.3% in Hong Kong after saying profit increased. Inpex Corp tumbled -3.3% as crude slid after Iraqi army victories damped concern the nation’s oil supplies will be disrupted. Lawson advanced +1.4% after the Nikkei newspaper reported the convenience store operator is likely to report an operating profit that far exceeds the analysts’ estimates. Japan Tobacco gained +1.3%. Maruha Nichiro Corp rose +1%. Kyokuyo Co rose +1.6%.
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.