European stocks gained as investors awaited the outcome of the European Central Bank’s policy meeting. The ESTX 50 (+0.32%), UK Markets (+0.35%), CAC 40 (+0.38%) and the Dax (+0.38%) all posted gains in early trading. Ingenico Group jumped +7.3% after saying it is in talks to acquire online payment service provider GlobalCollect. K+S AG climbed +2.8% after saying it will expand its specialty fertiliser and salt businesses and that potash prices have started recovering. Balfour Beatty Plc slumped -12% after saying profit at its engineering services unit will be slower than it had forecast. TF1 rose +1.4% after Citigroup added the French broadcaster to its “key buy” list of European small and mid-cap stocks, saying that the stock has lagged behind even as analysts increased their earnings expectations.
US stocks were little changed as private data showed companies added more workers than estimated in June before the government’s jobs report. The Dow Jones Industrial Average (+0.12%), S&P 500 (+0.07%) and the Nasdaq Composite (-0.02%) all posted small moves. Constellation rose +2.3% after increasing its earnings estimates for the fiscal year after posting better than estimated profit in its first quarter. Rackspace rallied +6.3% after TechCrunch reported that the company has been negotiating with a private equity firm to borrow capital for a deal to go private. Bank of America advanced +1.6% after Deutsche Bank upgraded its recommendation for “buy” from “hold”. Delta lost -5.1% as its passenger unit revenue increased 4.5% last month from a year earlier, slowing from a growth rate of 7% in May.
Asian stocks swung between gains and losses as private data showed US companies added more workers than estimated. The Nikkei 225 (-0.14%) and the Hang Seng (-0.10%) both declined, while the S&P/ASX 200 (+0.66%) increased. Li & Fung Ltd plunged -10% in Hong Kong after the shares traded without rights to entitlement to its spinoff. Dai-ichi Life Insurance Co fell -2.3% on a report the company will approve a share sale. Anhui Conch Cement Co rose +5.6% in Hong Kong after saying it expects first half profit will surge. Malaysian Airline System Bhd surged +12% after the Wall Street Journal reported the Malaysian state investment company is looking at the possibility of taking the airline private to tackle financial problems. Toshiba Corp rose +2.5% in Tokyo after the Nikkei newspaper reported it’s expected to win a 500 billion yen order to build a nuclear reactor in Bulgaria.
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.