Most European stocks fell as investors awaited the ECB’s next steps on interest rates and quantitative easing. The ESTX 50 (-0.32%), CAC 40 (–0.28%) and the Dax (-0.48%) all posted losses in early trading, while the UK markets (+0.14%) gained. Bilfinger slumped -9.5% after cutting its full year profit targets for a third time. Henderson Group plc lost -2.6% after Morgan Stanley cut its rating on the stock to “equal weight” from “buy”. Paddy Power Plc dropped -1% after appointing Andy McCue as Chief Executive Designate, to succeed Patrick Kennedy on January 1st 2015. Balfour Beatty Plc rose +2.3% after agreeing to sell a US unit to Montreal based WSP Global Inc and saying it will return some of the proceeds to shareholders. Standard Life Plc rallied +9.4% after selling its Canadian unit to Manulife Financial Corp for about $3.7 billion, and saying it will return £1.75 billion to shareholders when the transaction is completed.
US stocks ended Wednesday’s session down, as a decline in Apple shares dragged the Nasdaq lower and investors held off before the ECB’s upcoming policy meeting. The Dow Jones Industrial Average (+0.06%) gained, while the S&P 500 (-0.08%) and the Nasdaq Composite (-0.56%) both retreated. Apple shares slid -4.2% after several brokers considered downgrading the stock as Apple grappled with a possible security breach of its iCloud service a week before the launch of its new iPhone. Airline shares fell after Delta Airlines, down -5.2%, trimmed its operating margin forecast and said its international passenger traffic fell slightly in August. American Airlines Group Inc fell -3.4%. Housing stocks were weak, weighed down by a -4.7% in Toll Brothers after posting quarterly results.
Asian stocks fell as developers declined, while Samsung Electronics rallied after unveiling new Galaxy Note phones. The Nikkei 225 (-0.33%), Hang Seng (-0.05%) and the S&P/ASX 200 (-0.44%) all retreated. DLF Ltd tumbled -7.8% after a report that a court cancelled a land allocation in Gurgaon. Yuexiu Property Co sank -3% in Hong Kong after announcing a rights issue. Hengen International Group Co slipped -1.9% after BNP Paribas cut its rating on the stock to “hold” from “buy” and reduced its share price forecast to HK$85 from HK$89.50. Samsung Electronics rose +1.8% in Seoul after unveiling the Note Edge with a 5.6 inch screen that extends and the new Note 4, which features an upgraded display and improved camera.
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.