European stocks were slightly down this morning as investors awaited data on American personal spending and income, as well as pending home sales, to gauge the timing of any Federal Reserve interest rate increases. The ESTX 50 (-0.28%), UK Markets (-0.19%), CAC 40 (-0.22%) and the Dax (-0.09%) all posted small losses in early trading. Balfour Beatty Plc tumbled -22% after forecasting a bigger profit shortfall. UBS AG climbed +1.1% after indicating that profit for July and August already exceeds analyst estimates for the full third quarter. Commerzbank AG slid -3% after it was reported that the bank is seeking to resolve a probe into Iran sanctions violations also faces a US inquiry into whether it broke anti-money laundering laws. RWE AG dropped -2.1% after saying a plan to sell its RWE Dea oil and gas unit to LetterOne Investment group has been delayed as it has yet to be approved by the regulator.
US stocks finished higher on Friday, rallying back above a key technical level, but the advance was not enough to offset recent declines. The Dow Jones Industrial Average (+0.99%), S&P 500 (+0.86%) and the Nasdaq Composite (+1.02%) all advanced. Nike Inc jumped +12% for its biggest one day advance since October 2008, after earnings topped expectations, prompting more than a dozen brokers to raise their targets on the stock. Micron Tech jumped +6.7% after reporting better than expected results late Thursday. Universal Health Services Inc fell -2.4% after it agreed to buy Cygnet Health Care Ltd in a deal valued at about $335 million.
Most Asian stocks retreated as protests paralyzed parts of Hong Kong. The Hang Seng (-1.90%) and the S&P/ASX 200 (-0.93%) both declined, while the Nikkei 225 (+0.50%) increased. Chow Tai Fook Jewellery Group Ltd fell -4%, pacing losses among Hong Kong retailers. Treasury Wine Estates Ltd sank -8.5% in Sydney after ending takeover talks with private equity suitors. HSBC Holdings Plc lost -1.76% after banks shuttered some branches in Hong Kong following weekend clashes. Sony Corp rallied +3.16% pacing gains among Japanese exporters as the yen weakened.
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.