European stocks were mixed this morning as investors awaited a survey on German business climate for insight on the outlook for Europe’s biggest economy. The ESTX 50 (-0.13%) and the CAC 40 (-0.18%) both declined, while the UK markets (+0.13%) and Dax (+0.09%) both increased. A potential purchase of Kraft Foods Group Inc by 3G Capital adds to reasons why Anheuser-Busch InBev NV won’t buy SABMiller, RBC Capital Markets LLC wrote. SABMiller slid -1.7% and AB InBev lost -0.8%. Accor SA dropped -3.8% after Eurazeo SA sold 11 million shares in the company for €48.75 apiece. Hermes International SCA lost -1.9% after its 2014 operating income fell short of the average analyst estimate.
US stocks fell with equities maintaining a tight range that corresponded with currency fluctuations as traders focused on the dollar’s strength and its possible effects on corporate earnings. The Dow Jones Industrial Average (-0.58%), S&P 500 (-0.61%) and the Nasdaq Composite (-0.32%) all declined. Data from home sales to inflation and manufacturing indicated the US economy remains strong, but failed to alter expectations of a faster or steeper monetary policy tightening path at the Federal Reserve. Google advanced +2.2% after it was reported the Morgan Stanley’s chief financial officer is leaving the bank to join Google. Whiting Petroleum Corp plunged -19% after announcing an offering of 35 million shares and a $1.75 billion mix of notes and convertible notes to help cut its near $6 billion debt load.
Asian stocks rose recovering yesterday’s losses as consumer staples companies led gains. The Nikkei 225 (+0.17%), Hang Seng (+0.53%) and the S&P/ASX 200 (+0.07%) all increased. Hengen International Group Co jumped +5.4% in Hong Kong after posting profit that beat estimates. Agricultural Bank of China Ltd fell -1.1% in Hong Kong after posting an unexpected decline in fourth quarter profit as the Chinese economy slows. Kyushu Electric Power Co surged +3.1% after regulators said they will begin inspections at the utility’s nuclear plant next week, raising prospects of a restart later this year. Toyo Engineering Corp slumped -15% as the construction firm said its Brazilian business will post a loss. Inpex Corp fell -1.2%.
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.