European shares rose this morning after the European Central Bank said lending growth to euro zone companies and households grew at a steady pace last month. The ESTX 50 (+0.46%), CAC 40 (+0.35%), Dax (+0.50%) and the UK markets (+0.46%) all posted gains in early trading. Lending to companies grew 1.9% year on year in September while household lending grew 1.8%. Deutsche Bank shares rose +1% after posting a surprise net profit in the third quarter, helped by a surge in bond trading, while legal provisions rose to €5.9 billion from €5.5 billion. Barclays gained +0.1% and BBVA added +0.7% after both banks posted forecast beating quarterly profits. Amec Foster plunged -15% after saying 2016 and 2017 trading would be in line with its expectations.
US stocks were mixed following the release of earnings from several companies. The Dow Jones Industrial Average (+0.17%) advanced, while the S&P 500 (-0.17%) and the Nasdaq Composite (-0.63%) both declined. Apple fell -2.2% after it acknowledged that strong demand for its iPhone 7 plus caught the company off guard and was struggling to keep up. Boeing climbed +4.7% after reporting a jump in quarterly profit despite slower sales. Chipotle Mexican Grill shares slumped -9.3% after reporting a bigger than expected drop in quarterly sales at established restaurants. Mondelez added +3.6% after its quarterly profit beat estimates and it raised its profit forecast for the year.
Asian shares declined as investors remained cautious in the face of slowing industrial profit growth, persistent yuan weakness, and growing concerns over tighter liquidity. The S&P/ASX 200 (-1.20%), Hang Seng (-0.83%) and the Nikkei 225 (-0.32%) all retreated. Ardent Leisure Group plunged -15% after police ordered the closure of its Dreamworld theme park on the Gold Coast following an accident that killed four people. Great Wall Motor Co tumbled -11% in Hong Kong after several analysts cut their ratings on the stock. Henan Shuanghui tumbled -6% after it reported a decline in Q3 net profit.
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 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.
Morning Spread 26th September 2016 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.