European stocks were mixed this morning as investors awaited data on US jobless claims and economic growth. The ESTX 50 (-0.25%), CAC 40 (-0.28%) and the DAX (-0.14%) all posted losses in early trading, while the UK Markets (+0.35%) were up. UbiSoft Entertainment SA climbed +2.5% after saying its Watch dogs game broke the company’s record for first day sales. Kingfisher Plc dropped -4.6% after posting first quarter profit that missed analysts’ estimates. Tate & Lyle Plc declined -1.3% after posting annual profit that trailed projections. IMI Plc added +1% as UBS AG recommended buying the engineering company’s shares. Aggreko Plc fell -3% after naming a new CEO.
US stocks fell as losses among retailers overshadowed gains in phone shares and utilities before a report today that may show the economy contracted in the first quarter. The Dow Jones Industrial Average (-0.25%), S&P 500 (-0.11%) and the Nasdaq Composite (-0.28%) all declined. Dollar General declined -3% as Deutsche Bank AG lowered the stock’s rating to “hold” from “buy”. Lowe’s fell -2.2% after Canaccord Genuity Corp analysts told clients to sell shares of the company. Toll Brothers climbed +2.1% as it continued to raise prices and boost sales in the costlier New York and California markets. Twitter jumped +11% after Nomura raised its rating on the shares to “buy” from “neutral”. 3D Systems Corp declined -11% after saying it will sell 5.95 million new shares for $317 million. Stryker Corp climbed +2.8% after a Financial Times report that the company is preparing a takeover offer for Smith & Nephew Plc.
Asian stocks rose as phone and electronic companies gains. The Hang Seng (-0.38%) and the S&P/ASX 200 (-0.14%) both declined, while the Nikkei (+0.07%) was slightly up. Singpaore Telecommunications Ltd climbed +1.6% after agreeing to sell part of its stake in Singapore Post Ltd to Alibaba Group Holding Ltd. Singapore Post jumped +9.7% to a record. Samsung Electronics Co added +1.9% in Seoul after unveiling a prototype health monitoring wristband. BHP Billiton Ltd dropped -1.3% in Sydney as copper futures declined. Rio Tinto Group slipped -2.2%. Toyota Motor Corp gained +0.9% even as the yen strengthened. Nippon Suisan Kaisha Ltd jumped +10% after SMBC Nikko raised its rating to “outperform” from “neutral”, while also increasing its target price to 370 yen from 240 yen. Credit Saison Co lost -1.4% after Credit Suisse Group AG cut its target price for the company.
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.