European stocks fell this morning, weighed down by a pullback in the major banking shares and energy companies. The ESTX 50 (-1.58%), CAC 40 (-1.61%), Dax (-1.39%) and the UK markets (-1.12%) all posted losses in early trading. Lloyds declined -2.8% after Goldman Sachs cut its rating on the bank to “sell” from “neutral”. Lanxess surged +7.9% as investors welcomed its move to buy chemical company Chemtura for about $2.1 billion in cash. K+S fell -4.7% after Deutsche Bank cut its rating on the stock to “sell” from “hold”.
US stocks retreated as lower oil prices weighed on energy shares and Facebook and Apple declined. The Dow Jones Industrial Average (-0.71%), S&P 500 (-0.57%) and the Nasdaq Composite (-0.63%) all declined. Oil prices tumbled -4% on signs Saudi Arabia and Iran were making little progress in achieving agreement ahead of talks by crude exporters aimed at freezing production. Facebook shares fell -1.6% after the Wall Street Journal reported that the company overestimated viewing time for video ads. Apple dropped -1.7% on concerns about iPhone sales. Twitter shares surged +21% on reports that the company was exploring selling itself. Endo International jumped +15% after announcing a new CEO.
Asian shares declined following losses on Wall Street as investors attention turned from central banks to American politics ahead of the first US presidential debate. The Hang Seng (-1.56%) and the Nikkei 225 (-1.25%) both dropped, while the S&P/ASX 200 (0.00%) was flat. Half of America’s likely voters will rely on the presidential debates to help them make their choice between Republican Donald Trump and Democrat Hillary Clinton in the Nov 8 election. Apple suppliers TDK Corp tumbled -6.3%, Japan Display Inc dived -7.4% and Murata Manufacturing shed -3.3% after market research firm GfK said that new iPhone European sales would be lower than iPhone 6’s pace.
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.