European stocks retreated as world leaders gather in The Hague to discuss tension over Ukraine. The ESTX 50 (-0.84%), UK Markets (-0.38%), CAC 40 (-0.82%) and the DAX (-0.86%) all posted losses in early trading. Centrica Plc declined -1.3% and SSE Plc dropped -1% after the Sunday Times reported that the UK’s six biggest utilities may be broken up this week when energy regulator Ofgem calls in the competition watchdog. KPN fell -2.3% after Citigroup lowered its recommendation on the stock to “neutral” from “buy”. CEZ AS climbed +4.2% after Czech finance minister said the government is seeking a 100% dividend payout. Centamin Plc added +4.3% after posting better than expected 2013 profit. Phoenix Group Holdings gained +3.7% after Standard Life Plc said it is intalks to acquire Ignis Asset Management Ltd from the manager of life insurance funds.
US stocks rose for the week as data from jobless claims to manufacturing showed the economy is strengthening. The Dow Jones Industrial (-0.17%), S&P 500 (-0.29%) and the NASDAQ Composite (-0.98%) all finished for the weekend in retreat. JPMorgan Chase & Co added +5.9% after Federal Reserve Chair Janet Yellen said interest rates could rise in the middle of next year. JPMorgan jumped +5.9% and Citigroup Inc increased +6.8%. Microsoft Corp advanced +6.5% after Morgan Stanley said the company’s anticipated Office software for Apple’s iPad may deliver an extra $1.2 billion a year. Hewlett-Packard Co rallied +9.9% after Barclays Plc boosted its recommendation on the stock to “overweight” from “equal-weight”. First Solar Inc surged +36% after saying profit will increase to $4.50 – $6 a share. Toll Brothers lost -1.4% while D.R.Horton Inc slid -28% amid concern rising borrowing costs will hurt the housing recovery.
Asian stocks rose as Japanese markets surged on reopening after a holiday and as investors were unfazed by a drop in Chinese manufacturing activity. The Nikkei 225 (+1.77%), Hang Seng (+1.91%) and the S&P/ASX 200 (+0.17%) all advanced. Yanzhou Coal Mining Co surged +6.6% in Hong Kong after the shares were upgraded by Credit Suisse to “neutral” from “underperform”. Macquarie Group rose +2.9% after saying it expects fiscal year earnings to rise as much as 45% as the outlook for its fixed income, currencies and commodities unit improved. Yamato jumped +3.5% after the Nikkei newspaper reported the company will tie up with China Post to ship products bought online to homes in that country. Hutchison Whampoa Ltd dropped -5.2% in Hong Kong after agreeing to sell a stake in A.S.Watson & Co, with a lower than expected valuation indicated for the retail unit.
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.