European stocks were little changed as investors weighed corporate and as the US joined Europe in imposing new sanctions on Russia. The ESTX 50 (+0.06%), UK Markets (+0.05%), CAC 40 (-0.15%) and the Dax (+0.08%) all posted small changes in early trading. Schneider Electric SE declined -2.7% after first half adjusted earnings missed analysts’ estimates. Airbus Group NV climbed +3.6% after posting a 10% increase in first half earnings. Banco Bilbao Vizcaya Argentaria SA added +0.8% after posting second quarter net income that beat analysts’ estimates. Antofagasta Plc retreated -2.9% after saying its cash costs climbed during the second quarter. Segro Plc lost -1% after buying out its partner in a property joint venture. Barclays Plc added +3.2% after the bank reported a return to profit in the second quarter.
US stocks fell as President Obama announced new sanctions against Russia and warned its actions in Ukraine are setting back decades of progress. The Dow Jones Industrial Average (-0.42%), S&P 500 (-0.45%) and the Nasdaq Composite (-0.05%) all retreated. United Parcel Service Inc slid -3.7% after cutting its full year forecast. Windstream Holdings Inc surged +12% on plans to spin off assets into a publicly traded real estate investment trust. Frontier Communications Corp climbed +14% and CenturyLink Inc rallied +5.8%. Twitter Inc soared +33% after the market’s close as second quarter revenue beat estimates. Masco climbed +7.1% after reporting second quarter profit that beat analysts’ projections. Merck added +1.1% after reporting net income more than doubled to $2 billion as the company cut costs.
Asian stocks rose before the Federal Reserve updates markets on monetary policy as the US and EU strengthen sanctions against Russia. The Nikkei 225 (+0.18%), Hang Seng (+0.40%) and the S&P/ASX 200 (+0.62%) all advanced. Honda Motor Co climbed +3.1% in Tokyo after raising its profit forecast to the highest in seven years. Oversea-Chinese Banking Corp gained +1.7% as it prepares to take Hong Kong’s Wing Hang Bank Ltd private after shareholders accepted its $5 billion takeover offer. Shinsei Bank Ltd jumped +8.2% after reporting a 56% increase in quarterly profit to 20 billion yen, beating the average estimate. Hyundai Heavy Industries Co tumbled -9.5% after South Korea’s biggest shipbuilder reported a wider than expected second quarter loss.
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.