European stocks retreated amid investor concern that Greece won’t reach a debt agreement with creditors in time to make a repayment to the IMF. The ESTX 50 (-0.94%), UK markets (-0.35%), CAC 40 (-0.95%) and the Dax (-1.10%) all posted losses in early trading. National Bank of Greece SA dropped -5.6%. Syngenta AG climbed +2.2% after previously rejecting an unsolicited $45 billion takeover offer from Monsanto Co, is building up defences in preparation for a possible higher bid from its US rival, according to reports.
US stocks declined as mixed messages about Greece’s debt talks kept investor uncertainty high along with a sharp drop in Chinese shares after brokers tightened margin rules. The Dow Jones Industrial Average (-0.20%), S&P 500 (-0.13%) and the Nasdaq Composite (-0.17%) were all negative. Caterpillar fell -2.2% which helped drag down the Dow and S&P 500. GoPro Inc rose +6.6% after GoPro and Google Inc introduced a virtual reality system using 16 cameras and google software. Google shares were flat.
Asian stocks climbed as utilities and consumer shares led the gains. The Nikkei 225 (+0.06%), Hang Seng (+0.06%) and the S&P/ASX 200 (+1.12%) all increased. Osaka Titanium Technologies Co surged +9.2% after Credit Suisse Group AG boosted its share price target on the stock. Yahoo Japan Corp jumped +12% after saying it will form an e-commerce alliance with Alibaba Group Holdings Ltd. Inpex Corp added +1.2% after crude advanced amid signs the global supply glut is easing. Evergrande Real Estate Group Ltd tumbled -27% in Hong Kong after cutting the price of a share sale that analysts said will do little to reduce the company’s indebtedness.
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.