European equities gained as investors awaited tomorrows ECB meeting for details about the QE programme announced in January. The ECB will also give its first growth and inflation forecasts for 2017 for clues on the duration of the plan. The ESTX 50 (+0.18%), UK markets (+0.09%) and the CAC 40 (+0.24%) all posted gains in early trading, while the Dax (-0.20%) was down. Royal KPN NV rose +1.8% after it was reported that the Dutch company is reviving the sale of its Belgian mobile business. ING Groep NV added +1.3% after saying it will end an investment in its former US insurance unit. ITV Plc jumped +5.6% after saying it plans a special dividend. Henkel AG fell -3.5% after reporting fourth quarter profit that missed analyst predictions as the rouble’s drop held back growth in Russia. Subsea 7 SA lost -1.7% after posting fourth quarter revenue that fell short of analysts’ estimates.
US stocks closed down on Tuesday amid soft car sales numbers and Israeli Prime Minister Benjamin Netanyahu warned Barack Obama against accepting a nuclear deal with Iran. The Dow Jones Industrial Average (-0.47%), S&P 500 (-0.45%) and the Nasdaq Composite (-0.56%) all retreated. Chrysler fell -3.3% while Ford Motor declined -2.4% after tough winter weather slowed US vehicle sales in February, for the second year in a row. Microsoft Corp dropped -1.4% and Cisco Systems retreated -2.2%, giving back most Monday’s gains, as investors took profits the day after the Nasdaq hit 5,000. The biggest percentage decliners in the S&P 500 were Micron Technology, down -5% and Applied Materials, which fell -4.5%.
Asian shares fell as investors grew cautious before upcoming central bank meetings and US job data, while India’s central bank surprised with its second inter-meeting rate cut this year. The Nikkei 225 (-0.59%), Hang Seng (-0.96%) and the S&P/ASX 200 (-0.54%) all declined. Sharp Corp dropped -5.3% after a cut to its credit rating by Standard & Poor’s. Sharp fell as much as -10% at one point after it was reported it will seek new funds for further restructuring from its two main lenders. Sumco Corp plunged -13% after announcing plans to sell shares. Dai-ichi Life Insurance Co slumped -2.8%. Lawson Inc dropped -1.8% after Nomura Holdings Inc cut its rating on the company. NGK Insulators Ltd jumped +3.1% to lead gains on the Nikkei 225 after its shares were upgraded by SMBC Nikko Securities Inc.
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.