European stocks fell on concern the European Central Bank’s asset buying programme will disappoint. The ESTX 50 (-0.68%), UK markets (-0.53%), CAC 40 (-0.57%) and the Dax (-0.53%) all posted losses in early trading. Seadrill Ltd slid -5% as West Texas Intermediate crude fell below $90 for the first time in 17 months. Rocket Internet lost -3.6% after completing the biggest initial public offering in Germany since 2007. It priced the sale at the top end of its range. Zalando SE dropped -7.2% on its second day of trading. Societe Television Franchise 1 climbed +2.5% after UBS AG recommended buying the shares.
US stocks tumbled as the first diagnosis of Ebola in a patient in United States concerned investors and economic data pointed to uneven growth. The Dow Jones Industrial Average (-1.40%), S&P 500 (-1.32%) and the Nasdaq Composite (-1.59%) all retreated. The Ebola news pressured shares of airlines with South Airlines falling -3.6% and Delta Air Lines dropping -3.5%. While pharmaceutical companies with Ebola treatments in the pipeline rose sharply. Tekmira Pharmaceuticals climbed +18.2%. The biggest gainer on the NYSE was China Green Agriculture, which rose +13.64%. While the biggest drag on the index was Centrus Energy which fell -25.27%. Other notable moves were Petrobras, which was down -6.27%, and Ford Motor which dropped -1.35%. Facebook, which was the most actively traded stock, was down -3.1%.
Asian stocks fell after US equities slumped on concern over the end of the Federal Reserve’s stimulatory bond buying program. The Nikkei 225 (-2.61%), Hang Seng (-1.28%) and the S&P/ASX 200 (-0.68%) all declined. Honda Motor Co and Panasonic Corp each fell at least -3.7% to pace losses among Japanese exporters. OCI Co tumbled -5.5% in Seoul, tracking losses among the world’s biggest solar manufacturers amid concern Japanese demand for renewable energy will weaken. Wotif.com Holdings Ltd jumped +6.5% in Sydney after regulators said they would allow Expedia Inc’s bid for the company.
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.