European stocks were mixed this morning as investors awaited the European Central Bank’s rate decision and President Mario Draghi’s remarks. The ESTX 50 (-0.06%), CAC 40 (-0.18%), Dax (-0.26%) all declined in early trading, while the UK markets (+0.26%) were positive. Standard Chartered Plc rose +2.6% after saying it’s back on track to achieve a $1 billion cost cut target. Barclays Plc advanced +1.9%. Johnson Matthey Plc increased +1.7% after reporting earnings that beat projections. Wolseley Plc fell -1.9% on analyst downgrades following its earnings report yesterday.
US stocks fluctuated as investors processed data on global manufacturing, US car sales and inflation for clues about the Federal Reserve’s next interest rate hike. The Dow Jones Industrial Average (+0.01%) was flat, while the S&P 500 (+0.11%) and the Nasdaq Composite (+0.08%) both gained. US car sales weakened in May, with General Motors and Ford reporting lower US sales. GM shares fell -3.4% while Ford dropped -2.8%. Michael Kors rose +6.6% after posting its strongest quarterly sales growth in a year. Demandware soared +55.9% after Salesforce.com agreed to buy the company in a $2.8 billion deal. Salesforce fell -0.3%.
Asian stocks were mixed as the yen held gains against the dollar, weighing on Japanese equities before a meeting of OPEC and a monthly US jobs report. Japanese retail stocks, which stand to benefit from the delay to the sales tax, were mostly lower. Aeon Co lost -1.5% and Seven & I Holdings Co dropped -1.6%. Honda Motor Co sank -4.2% after its American sales dropped 4.8% last month, while Mazda Motor Corp slid -3.2% after revenue from North America declined 4.3% in the same period. Daikin Industries Ltd dropped -3.4% after SMBC Nikko Securities Inc cut its rating on the company, citing the potential negative impact of a stronger yen.
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.