European stocks rose as investors weighed company earnings and awaited the Federal Reserve’s monetary policy decision. The ESTX 50 (+0.36%), CAC 40 (+0.27%), Dax (+0.78%) and the UK markets (+0.65%) all posted gains in early trading. Total SA gained +2% after posting third quarter profit that exceeds analysts’ estimates. Deutsche Bank AG lost -1.2% after swinging to a loss in the third quarter. Air-France-KLM Group slid -1.6% after quarterly profit fell. STMicroelectronics NV declined -6.3% after forecasting a drop in fourth quarter revenue. Banco Bilbao Vizcaya Argentina SA declined -2% after posting third quarter income that missed analysts’ forecasts. Anglo American climbed +1.5% after The Times reported that the company maybe a takeover target. Tui Travel Plc rose +3.5% after saying shareholders approved its planned merger with TUI AG. Next Plc lost -2.2% after cutting its full year forecasts.
US stocks rallied after corporate results topped estimates and consumer confidence surged as Federal Reserve officials start a two day meeting. The Dow Jones Industrial Average (+1.12%), S&P 500 (+1.19%) and the Nasdaq Composite (+1.75%) all advanced. Parker-Hannifin Corp jumped +4.9% after raising the low end of its profit estimate. Amgen Inc rose +6.1% after raising its 2014 forecast. Twitter Inc sank -9.8% after reporting another quarter of decelerating growth. Yahoo! Inc surged +2.6% for a ninth straight gain, the longest rally since 2006. T-Mobile US Inc added +3.1% after boosting its estimate for subscriber acquisitions. Madison Square Garden Co jumped +11% after Bloomberg News reported it’s considering splitting the company in two.
Asian stocks rose after Japanese industrial production jumped the most since January and several companies posted higher profit. The Hang Seng (+1.27%) and the Nikkei 225 (+1.46%) both gained, while the S&P/ASX 200 (-0.09%) declined. Ping An climbed +2.9% in Hong Kong after saying profit jumped 90% in the third quarter. Nomura jumped +4.4% in Tokyo after announcing a share buyback and quarterly earnings beat estimates. Omron Corp soared +7.6% after increasing its profit forecast and dividend and said it will repurchase shares. Koito Manufacturing Co surged +8.5% after raising its profit forecast. Hitachi Construction Machinery Co added +3.9% after its first half operating profit exceeded analysts’ estimates.
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.