European stocks were little changed as investors assessed a slew of earnings reports. The ESTX 50 (-0.02%) and the UK Markets (+0.01%) were both flat in early trading, while the CAC 40 (+0.35%) and the Dax (+0.25%) both advanced. BNP Paribas SA gained +2.1% after its net income topped projections. Credit Suisse Group AG climbed +2.3% after unexpectedly returning to profit in the second quarter. Anglo American added +5.9% on better than forecast first half sales and earnings. Rolls-Royce Holdings Plc jumped +8.1% after posting profit that beat predictions and saying it’s on course to deliver a stronger second half of the year. Logitech International SA rallied +7.5% after reporting quarterly earnings that topped analyst estimates and boosted its 2017 estimates. Shell slid -3.5% after posting profit that was about half the average analyst estimate.
US stocks were mixed after the Federal Reserve left interest rates unchanged but opened the door to a possible rate increase later this year. The Dow Jones Industrial Average (-0.01%) was flat, the S&P 500 (-0.12%) declined and the Nasdaq Composite (+0.58%) increased. Boeing rose +0.8% after the company reported a much smaller than expected loss in its core quarterly results. Coca-Cola dropped -3.3% after reporting that revenue missed estimates and cut its forecast. Apple Inc rose +6.6% after selling more iPhones than expected in the third quarter and gave an upbeat current quarter forecast. After the bell, Facebook posted quarterly results that sent its stock +6% higher.
Asian stocks fluctuated as investors digested the Federal Reserve’s latest policy decision while the stronger yen drove Tokyo shares lower ahead of results from a Bank of Japan meeting. The S&P/ASX 200 (+0.30%) gained, but the Hang Seng (-0.20%) and the Nikkei 225 (-1.13%) both retreated. Fujifilm Holdings Corp slumped -9.9% after posting first quarter profit that missed analyst expectations. Mitsubishi UFJ Morgan Stanley Securities Co said the company’s profits and margins in one of its businesses were negatively impacted by the yen’s strength. Alps Electric Co surged +11% after reporting first quarter profit beat analyst estimates. Advantest Corp jumped +9.4% after boosting its full year profit forecast.
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.