European stocks declined amid increasing geopolitical tension over Ukraine. The ESTX 50 (-1.92%), UK markets (-1.36%), CAC 40 (-1.75%) and the DAX (-2.21%) all posted losses in early trading. The standoff over Ukraine intensified over the weekend after putting its forces on combat readiness after Russian President Vladimir Putin got parliamentary approval to send troops into the Ukraine. Barack Obama warned Russia not to intervene. Roche Holding AG lost -2.1% after it was advised to end a trial of a lung cancer drug. Bouygues SA slid -2.1% after a report that the company is planning a bid for Vivendi SA’s phone carrier SFR. Kuehne & Nagel International AG retreated -3.3% after reporting financial results. Yara International ASA rose +4.9% after JPMorgan Chase & Co raised its rating on the company. Randgold Resources Ltd climbed +4.4% and Fresnillo Plc advanced +2.4%
US stocks rose as improving consumer confidence and speculation that the Federal Reserve will support the economy offset concern over escalating conflict in Ukraine. The Dow Jones Industrial Average (+0.30%) and the S&P 500 (+0.28%) both advanced, while the NASDAQ Composite (-0.25%) declined. Principal Financial Group Inc rose +1.6% after Keefe, Bruyette & Woods Inc raised its rating on the stock. Monster Beverage Corp advanced +4% after reporting sales that beat analysts’ estimates. Apple slid -0.3% as shareholders approved the company’s proposals and rejected those that the board opposed at its annual meeting. Deckers Outdoor Corp dropped -12% after forecasting an unexpected first quarter loss. Southwestern Energy Co fell -4.2% for the biggest decline in the S&P 500 after reporting disappointing results.
Asian stocks fell amid escalating geopolitical tension over Ukraine and after an official gauge of Chinese manufacturing dropped to an eight month low. The Nikkei 225 (-1.27%), Hang Seng (-1.47%) and the S&P/ASX 200 (-0.38%) all dropped. Rio Tinto Ltd lost -1.6% in Sydney as raw material shares declined. Mazda Motor Corp, a company that gets 73% of sales overseas, tumbled -3.5% in Tokyo as the yen touched an almost one month high against the dollar. Toyota Motor Corp declined -1.1%. Gold producers climbed as investors sought assets considered a haven. Bullion for immediate delivery jumped as much as 1.8% to $1,350.37 an ounce. Newcrest Mining Ltd gained +5.7% and Zijin Mining Group Co advanced +3%.
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.