European stocks declined this morning on concern over central bank stimulus. The ESTX 50 (-1.46%), CAC 40 (-1.33%), Dax (-1.84%) and the UK markets (-0.96%) all posted losses in early trading. Roche Holding AG fell -1.5% after saying studies for an asthma treatment didn’t come to conclusive results. Ocado Group Plc lost -4.9% while Wm Morrison Supermarkets Plc rallied +5.4% after Morrison entered a pact with Amazon.com Inc. PostNL NV added +5.5% after confirming its 2016 outlook. Randgold Resources Ltd, Glencore Plc and Anglo American Plc added at least +2.9%.
US stocks ended lower on Friday as concerns about the timing of future interest hikes offset gains in materials and energy stocks. The Dow Jones Industrial Average (-0.34%) and the S&P 500 (-0.19%) both increased, while the Nasdaq Composite (+0.18%) increased. In a break from a trend seen for much of this year, energy shares clung to gains even after a rally in crude oil prices faded, with ConocoPhillips up +3.21%. J.C.Penney jumped +14.71% after reporting better than expected revenue. Baidu rose +9.87% after company posted quarterly results that impressed Wall Street.
Asian stocks fell as Chinese shares slumped and a stronger yen weighed on Japanese shares. The Hang Seng (-1.30%) and the Nikkei 225 (-1.00%) both declined, while the S&P/ASX 200 (+0.02%) was flat. Nissan Motor Co surged +5.5% in Tokyo after announcing plans to buy back 400 billion yen worth of shares. Nintendo Co fell -1% after halving its outlook for profit this fiscal year. Sapporo Holdings Ltd slid -5.9% after JPMorgan Chase & Co downgraded the company. China Life Insurance Co closed at it lowest level in two weeks with a -3.3% decline. Industrial & Commercial Bank of China Ltd extended its loss this year to -12%.
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.