European stocks were little changed amid better than expected financial results from several companies. The ESTX 50 (-0.04%), CAC 40 (+0.05%), Dax (+0.01%) and UK Markets (+0.01%) were all pretty flat in early trading. Airbus advanced +6.3% after reporting a 15% gain in annual profit after increasing commercial plane deliveries. It also said it would boost monthly production of its A320 single aisle aircraft to 50 a month by 2017. Sika AG climbed +1.9% after reporting full year earnings that beat analyst estimates, helped by sales growth in all regions and demand for its mortar business. IAG SA added +4.7% after saying full year earnings surged 81%, helped by a turnaround at Iberia and strong demand on North American routes. Lloyds Banking Group Plc advanced +1.2% after saying it will resume dividend payments after reporting its first annual profit in five years.
US shares were mixed as the Nasdaq rallied after deal news in the technology sector while the Dow and S&P 500 dipped as energy shares sank with oil prices. The Dow Jones Industrial Average (-0.06%) and the S&P 500 (-0.15%) both declined, while the Nasdaq Composite (+0.42%) advanced. Avago Technologies jumped +14.7% after the company reached a deal to acquire Emulex for $8 per share. Emulex surged +24.7%. Salesforce.com climbed +11.7% after reporting quarterly earnings and raised its full year revenue forecast. Apple gained +1.3% after sending out invitations for a March 9th event, about one month before the launch of the much anticipated new Apple watch. Energy shares led declines in the S&P 500 and Dow, with the S&P 500 energy index dropping -1.8% as US crude oil futures fell -5.5% to settle at $48.17, pressured by rising inventories in the United States. Chevron Corp fell -1.4% and Exxon Mobil Corp dropped -1.06%.
Asian stocks were mixed upbeat Japanese industrial output data offset a decline in consumer shares. The S&P/ASX 200 (+0.34%) and the Nikkei 225 (+0.06%) were both positive, while the Hang Seng (-0.32%) retreated. Woolworths plunged -9.5% in Sydney after cutting its profit forecast. Noble Group Ltd tumbled -7.1% in Singapore after reporting its first quarterly loss in more than three years amid allegations of accounting malpractice. Nexon Co surged +9.7% in Tokyo after saying it will buy back 10 billion yen in shares. Casino stocks rebounded, with Sands China Ltd rising +2.3% in Hong Kong after dropping 13% the past four days. Orix Corp climbed +4.5% after saying it will offer investors “yutai” or gifts, for owning shares. Yokogawa Electric Corp sank -3.9% after its rating was cut by Goldman Sachs Group. Inpex Corp dropped -1.9% as oil explorers declined.
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.