European shares rose this morning, helped by a fresh batch of company earnings reports ahead of a Federal Reserve policy decision later today. The ESTX 50 (+0.91%), UK markets (+0.28%), CAC 40 (+0.74%) and the Dax (+0.78%) all posted gains in early trading. Heineken rose +3.9% after reporting strong sales in Europe and the Americas that came in above expectations. UCB rose +3.7% after its own well received results. Volkswagen rose +3.2% after announcing its first quarterly loss in at least 15 years. BT Group Plc gained +4.6% after the UK’s competition authority gave provisional approval to the company’s bid to acquire EE Ltd. Lloyds Banking Group Plc fell -4.5% after reporting a bigger profit drop than analysts projected.
US stocks dropped on uncertainty over the US rate outlook and disappointing results from several companies. The Dow Jones Industrial Average (-0.24%), S&P 500 (-0.26%) and the Nasdaq Composite (-0.09%) all decreased. Apple rose +2.8% in after hours trading after reporting higher than expected earnings and revenue. Twitter dropped -11% after the bell after reporting results. Twitter’s stock ended the regular session up +1.5%. Ford dropped -5% after quarterly results missed expectations. JetBlue Airways Corp fell -3.2% after it said it will make less money per mile in October than it did a year ago. Alibaba rose +4% after reporting better than expected revenue.
Asian stocks followed US shares lower as energy companies led declines and investors awaited a Federal Reserve decision on monetary policy. The Hang Seng (-0.80%) and the S&P/ASX 200 (-0.20%) both retreated, while the Nikkei 225 (+0.67%) rose. Santos Ltd dropped -4.4% in Sydney as crude oil traded near a two month low. Tsingtao Brewery Co dropped -4.6% in Hong Kong as its earnings decline accelerated. Hitachi Metals Ltd tumbled -12% in Tokyo after posting quarterly profit that fell short of expectations. Tokyo Electron Ltd jumped +6.6% after increasing its full year profit forecast and dividend payout plan.
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.