European stocks declined as investors awaited data on US gross domestic product to gauge the outlook for interest rates in the world’s largest economy. The ESTX 50 (-0.12%), CAC 40 (-0.03%), Dax (-0.38%) and the UK markets (-0.26%) all posted losses in early trading. Air France-KLM Group dropped -2.8% after the board said pilot demands don’t fit with its plans for a low cost model. J Sainsbury Plc lost -1.7% after Barclays Plc cut its price estimate, citing the likelihood of weak second quarter like for like sales and the possibility of the company changing its profit guidance. Barclays Plc lost -0.35% after settling a lawsuit with London trading company CF Partners after a judge found that the bank had misused confidential information during its acquisition of a Swedish carbon trading company.
US stocks fell as Apple Inc tumbled and concern grew over tensions overseas. The Dow Jones Industrial Average (-1.54%), S&P 500 (-1.62%) and the Nasdaq Composite (-1.94%) all retreated. Apple plunged -3.8% amid problems following the introduction of the iPhone 6, sending technology stocks in the S&P 500 to the biggest decline since April. Biogen Idec Inc and Illumina Inc slid more than -2.8% to pace declines in the Nasdaq. Allegheny Technologies sank -4.8% as commodities declined after the dollar touched a four year high. TripAdvisor Inc lost -3.3% as investors sold some of the bull market’s biggest winners. Micron Technology Inc fell -3.4% after the market closed after reporting its fourth quarter results. Nike Inc rose +4.1% in after-hours trading. Motorola Solutions Inc added +0.7% after it said it would reduce its pension plan liability by $4.2 billion.
Asian stocks fell after US stocks tumbled and as the yen gained against the dollar. The S&P/ASX 200 (-1.28%), Hang Seng (-0.44%) and the Nikkei 225 (-0.88%) all declined. PT Bank Mandiri tumbled -4.3% in Jakarta after Indonesia’s parliament passed a law scrapping direct local elections, ending a decade long system of regional democracy. Fanuc Corp surged +4.1% after increasing its annual profit forecast. Japanese exporters suffered as the yen strengthened against the dollar. Toyota Motor Corp lost -1.5% in Tokyo. A gauge tracking energy producers on the MSCI China Index retreated -1%. China Petroleum & Chemical Corp slid -1.6% and Shenhua Energy fell -1.6%. China Pacific Insurance (Group) Co decreased -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.