European stocks declined, erasing earlier gains as falling oil prices and concern over Greece possibly leaving the EU offset speculation of increased ECB stimulus. The ESTX 50 (-0.51%), UK markets (-0.40%), CAC 40 (-0.25%) and the Dax (-0.14%) all posted losses in early trading. Royal Dutch Shell Plc and BP Plc dropped at least -1% as the price of crude fell. Marks & Spencer Group Plc lost -1.7% after Societe Generale SA lowered its rating on the company. EasyJet Plc and International Consolidated Airlines Group SA both rose more than +2%. Ryanair rose +3%, hitting an all time high after the company said December traffic grew 20%. Luxottica rose +2.7% after it was cited by La Stampa as saying it would benefit from a weaker euro/dollar exchange rate in its fourth quarter results.
US stocks closed little changed in the first trading day of 2015 as economic data eroded early gains. The S&P 500 (-0.03%) and the Nasdaq Composite (-0.20%) both declined, while the Dow Jones Industrial Average (+0.06%) advanced. In a sign of tepid economic conditions, construction spending unexpectedly fell 0.3% in November, while the pace of growth in the US manufacturing sector slipped to a six month low in December. Energy shares gained, alternating between gains and losses alongside choppy trading in crude oil. Exxon Mobil rose +0.4% and Kinder Morgan gained +1.2%. General Motors lost -0.2% after announcing three new vehicles.
Asian stocks fell as phones companies led the declines. The Nikkei 225 (-0.24%) and the Hang Seng (-0.57%) both declined, while the S&P/ASX 200 (+0.26%) increased. China Mobile Ltd fell -1.4% in Hong Kong to pace losses among phone companies. AirAsia Bhd slipped -4.4% in Kuala Lumpur after Indonesian authorities said over the weekend that the carrier wasn’t authorised to fly to Singapore on the day its passenger jet crashed. Hong Kong Exchanges & Clearing Ltd jumped +2.5% after a report Chinese Premier Ki Keqiang said a stock link with Shenzhan should be established.
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.