European stocks followed their US and Asian counterparts by heading lower this morning. The ESTX 50 (-1.29%), UK markets (-1.13%), CAC 40 (-1.17%) and the Dax (-1.56%) all posted losses in early trading. London Stock Exchange Group Plc fell -8% as Borse Dubai Ltd said it was selling its entire stake in the exchange. Havas SA slid -7.5% after Group Bollore sold a 22.5% stake in the advertising company. ARM fell -4.8% on concerns over weak computer sales weighing on the technology sector. Royal Bank of Scotland Group Plc fell -0.6% after saying that investors agreed to pay $3.21 billion in a public offering for a 25% stake in its US unit Citizens Financial Group Inc. Airbus Group NV declined -0.8% after saying it sold additional shares in Dassault Aviation SA, cutting its holding in the company to 24.6%.
US stocks dropped on Wednesday as a slump in technology and biotechs sent the Nasdaq to its biggest decline in nearly a year. The Dow Jones Industrial Average (-1.62%), S&P 500 (-1.46%) and the Nasdaq Composite (-2.37%) all dropped. Kraft Foods surged +35.6% after a merger agreement with H.J.Heinz Co, owned by 3G Capital and Berkshire Hathaway. Berkshire Class B shares slipped -0.5%. Kofax Ltd rallied +46% after Lexmark International said it would buy Kofax in a deal of about $1 billion that would double the size of its enterprise software business. Lexmark shares climbed +6.1%. After the closing bell, Red Hat shares gained +4.6% after posting quarterly results and authorised a $500 million share buyback plan.
Asian shares declined as tech drive losses on Wall Street and escalating tensions in the Middle East provided a tailwind for oil prices. The Nikkei 225 (-1.39%), Hang Seng (-0.13%) and the S&P/ASX 200 (-1.58%) all retreated. Samsung Electronics Co tumbled -4.3% in Seoul, while Tokyo Electron Ltd slumped -5.8% in Tokyo. Daewoo Engineering & Construction Co plunged -9% after a report the South Korean contractor may face regulatory sanctions over alleged irregular accounting practices. China Mengniu Dairy Co surged +9.8% in Hong Kong after posting full year profit that beat analyst estimates. Japanese exporters fell as the yen strengthened. TDK slid -4.5% and Nissan Motor Co dropped -2.1%.
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.