European stocks were mixed as investors awaited data on US services and home sales. The ESTX 50 (-0.07%), DAX (-0.12%), CAC 40 (+0.20%) and UK Markets (+0.02%) all posted small changes in early trading. Ryanair Holdings Plc added +4.6% after lifting its fiscal full year profit goal as it posted first quarter profit that more than doubled. Reckitt Benckiser Group rose +2.4% after saying it will spin off its pharmaceutical business. Wincor Nixdorf AG sank -7.9% after posting third quarter revenue that fell short of analysts’ estimates. Danone SA climbed +2.1% after it was reported that the company is in talks with Hospira Inc as a potential buyer for a medical nutrition unit.
US stocks fell as earnings at several companies missed estimates and durable goods data fuelled concern corporate investment remains stop and go. The Dow Jones Industrial Average (-0.72%), S&P 500 (-0.48%) and the Nasdaq Composite (-0.50%) all declined. Amazon plunged -9.7% after trailing analysts’ predictions for the second quarter. Visa sank -3.7% after lowering its full year revenue forecast. Pandora Media Inc dropped -10% after the number of active listeners reported by the Internet radio service missed some analysts’ estimates. Baidu Inc rose +11% after earnings topped projections. VeriSign Inc climbed +12% for the biggest advance in the S&P 500 and its steepest climb since 2009, after reporting earnings that beat analysts’ estimates.
Asian stocks rose as Chinese shares traded in Hong Kong headed for a bull market amid optimism government stimulus is boosting economic growth. The Hang Seng (+0.88%) and the Nikkei 225 (+0.46%) both advanced, while the S&P/ASX 200 (-0.11%) retreated. Bank of Communications Co soared +4.9% in Hong Kong on a report the bank wants to sell more stakes to private investors. Hitachi Chemical Co soared +9.5% in Tokyo after announcing job cuts and reporting a quarterly profit. Resona Holdings Inc jumped +5.4% after saying it would buy back preferred shares to repay public funds. Healthscope Ltd advanced +5.2% on its debut in Sydney after raising $2.1 billion in an initial public offering. Tokyo Electron Ltd fell -2.7% after DealReporter said a filing with China’s Ministry of Commerce for its acquisition by Applied Materials Inc has been withdrawn.
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.