European stocks were little changed before a report on American employment. The ESTX 50 (-0.28%) and the CAC 40 (-0.33%) both declined, while the UK Markets (+0.07%) and the DAX (+0.05%) both increased. Royal Bank of Scotland Group Plc rallied +9.1% after saying quarterly profit tripled and impairments fell as it avoided additional costs for compensating its customers. Software AG slid -3.4% after first quarter sales missed analysts’ estimates and profit dropped. InterContinental Hotels Group Plc rallied +7.5% after reporting that revenue per available room rose 6% in the first quarter, driven by better than estimated growth in Europe and the Americas. The company also said it will pay a special dividend of $750 million.
US stocks were little changed as data showed an increase in jobless claims before the government’s monthly labour report. The Dow Jones Industrial Average (-0.13%), S&P 500 (-0.01%) and the Nasdaq Composite (+0.31%) all posted modest changes. Avon Products Inc tumbled -10% after earnings trailed analysts’ estimates by almost half. T-Mobile US Inc rallied +8.1% after adding 1.3 million new monthly subscribers last quarter. Sprint Corp surged +2.7% after meeting with banks to make debt arrangements for a bid for T-Mobile. Yelp Inc gained +9.8% after raising its forecast for 2014. DirecTV advanced +4.1% after the Wall Street Journal reported that AT&T made an approach to buy the company. LinkedIn Corp climbed +5.1%, then fell -2.5% in extended trading after giving a second quarter sales forecast that missed analysts’ estimates as the company struggles to reignite growth.
Asian stocks rose as investors weighed corporate earnings ahead of the release of US non-farm payrolls today. The Nikkei (-0.19%) declined, while the Hang Seng (+0.57%) and the S&P/ASX 200 (+0.17%) both advanced. Wynn Macau Ltd jumped +3.8% in Hong Kong after beating analyst profit estimates and a report showed casino revenue from Macau exceeded expectations. Galaxy Entertainment Group Ltd rose +2.1% and Sands China Ltd added +1.5%. China Railway Group Ltd jumped +9.6% after HSBC Holdings Plc said in a report the Chinese government will raise investment in rail infrastructure. Hyundai Department Store Co fell -2.3% in Seoul after posting earnings that fell short of analyst forecasts. Treasury Wine Estates Ltd increased +6.5% in Sydney after the Australian newspaper said Pernod Ricard SA is interested in buying its US assets.
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.