European stocks advanced as a report predicted an increase in German consumer confidence and investors awaited data on American durable goods orders. The ESTX 50 (+0.27%), UK Equities (+0.26%), CAC 40 (+0.20%) and the DAX (+0.20%) all posted gains in early trading. Vivendi SA gained +2.3% after saying it will replace its chairman once it spins off its wireless business. Accor SA tumbled -3.3% after saying it will separate the operation and ownership of hotels into two businesses. Royal Mail Group Ltd climbed +3.7% after saying first half earnings almost doubled. United Utilities Group Plc gained +1.7% as fiscal first half earnings rose +1.4%. Amec Plc dropped -1%. UBS AG rose +0.6% after RBC Capital Markets upgraded the shares. Komax Holding AG added +1.3% after acquiring a stake in SLE Quality Engineering GmbH.
US stocks pared gains in the final minutes of trading before changes in MSCI indexes, offsetting a rally among housebuilders and technology shares. The Dow Jones Industrial Average (0.00%) and the S&P 500 (+0.01%) finished the session flat, while the NASDAQ Composite (+0.58%) was slightly up. Stocks trimmed gains in the final 30 minutes of trading as investors sold US equities to mimic changes in MSCI indexes that took effect at the close. Apple, Oracle Corp and Exxon Mobil Corp are among companies that face the biggest decrease in weighting in the MSCI review, according to Societe Generale SA. Apple jumped +1.8% after an analyst at Jefferies LLC said China Mobile Ltd’s selling of iPhone will provide a tailwind to Apple’s 2014 earnings estimates. Apple trimmed an earlier gain of as much as 2.4% as investors anticipated MSCI changes. Exxon Mobil slipped -0.9% while Oracle added +0.4% after rising as much as 1.1%. Tiffany rallied +8.7% for the biggest advance in the S&P 500, after reporting profit climbed and boosted its annual earnings forecast.
Asian stocks swung between gains and losses after US consumer confidence unexpectedly fell and as an advance among information technology shares was offset by declines at raw material companies. The Nikkei 225 (-0.42%) and S&P/ASX 200 (-0.45%) both declined, while the Hang Seng (+0.53%) gained. Industrial Bank of Korea sank -4.2% after the South Korean government sold more than 13 million shares in the lender. BHP Billiton Ltd lost -1.5% and Rio Tinto Group fell -1.1% in Sydney after copper yesterday fell for the first time in a week. Rakuten Inc surged +6.4% in Tokyo after saying it will boost its dividend. Chow Tai Fook Jewellery Group Ltd climbed +0.7% in Hong Kong after first half profit at the world’s largest listed jewellery chain almost doubled.
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.