European stocks were higher this morning as investors awaited reports on US jobs, services and home sales. The ESTX 50 (+0.31%), UK Equities (+0.09%), CAC 40 (+0.36%) and the DAX (+0.22%) all posted gains in early trading. Tesco Plc climbed +1.2% after reporting quarterly sales that matched analysts’ estimates. Elekta AB dropped -4.5% after posting quarterly profit that missed forecasts. Sage Group Plc jumped +9.2% after saying it was confident of achieving 6% revenue growth in 2015. Micro Focus International Plc slipped -0.7% after Investec Plc downgraded the shares. Continental AG rallied +1.63% after Goldman Sachs Group said European car companies will post improved profit growth until 2017.
US stocks fell amid concern an improving economy will cause the Federal Reserve to reduce monetary stimulus. The Dow Jones Industrial Average (-0.59%), S&P 500 (-0.32%) and the NASDAQ Composite (-0.20%) all declined. Krispy Kreme Doughnuts Inc plunged -20% after quarterly revenue missed analysts’ estimates. Yum! Brands Inc fell -2.7% after releasing a financial update that showed volatile Chinese sales. Apple Inc rose +2.7% after buying data analytics firm Topsy Labs Inc. Separately, UBS AG raised its recommendation on the stock to “buy” from “neutral”, and increased its price estimate for the shares to $650 from $540. Ford Motor Co lost -2.9% as stocks slipped amid November sales reports. Amazon.com Inc slid -2% to pace declines among retailers even as online Cyber Monday sales surged to a record. Tesla Motors Inc jumped +17% after the company’s Model S electric car was cleared of any safety defect in a review by Germany’s transportation regulator.
Asian stocks fell after the yen strengthened overnight and as investors awaited US jobs data this week that may provide further evidence as to when Federal Reserve will reduce stimulus. The Nikkei 225 (-2.17%) and the Hang Seng (-0.76%) both declined, while the S&P/ASX 200 (+0.34%) increased. Toyota Motor Corp sank -1.7% as the Nikkei 225 retreated from a six year high. Toppan Printing Co lost -6.7% in Tokyo after saying it will sell 80 billion yen of convertible bonds. Speco Co surged +5.7%, leading South Korean defence firms higher after it was reported that North Korean leader Kim Jong Un’s Uncle Jang Song Thaek may have been dismissed as vice chairman of the National Defence Commission. Westfield Group surged +4.1% after saying it plans to split its domestic and international operations, expanding a separation of assets that began three years ago.
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.