European stocks retreated before US jobs data and cease fire talks in Ukraine. The ESTX 50 (-0.16%), CAC 40 (-0.13%) and UK markets (-0.17%) all posted losses in early trading, while the Dax (+0.17%) increased. London Stock Exchange Group Plc slipped -2.5% as Borse Dubai Ltd prepares to sell a stake in the exchange. BASF SE slid -1.1% after a US court ordered it to face accusations it fraudulently hid evidence that its talc products contained asbestos. Foxtons Group Plc fell -2.4% after it was reported that shareholder was prepared to sell a stake in the real estate broker.
US stocks retreated as a decline in energy shares sapped an earlier rally following the ECB’s new stimulus measures. The Dow Jones Industrial Average (-0.05%), S&P 500 (-0.15%) and the Nasdaq Composite (-0.22%) all declined. Shares of PVH Corp rose +9.6% after quarterly profit beat expectations, bolstered by sales of Tommy Hilfiger branded clothes. US listed shares of BP Plc fell -5.9% after a US district judge ruled the company was grossly negligent in a massive oil spill in the Gulf of Mexico in 2010. Chevron Corp and Exxon Mobil Corp each lost -0.8% as crude dropped. Fastenal Co rose +4% after reporting a sales increase.
Asian stocks fell as material and energy companies slid. The S&P/ASX 200 (-0.58%), Hang Seng (-0.23%) and the Nikkei 225 (-0.05%) all retreated. Newcrest Mining Ltd lost -3.2% after the price of bullion fell. Fortescue Metals Group Ltd sank -3.2% after a gauge of prices for iron ore in China dropped. Inpex Corp fell -1.9% in Tokyo as crude futures headed for the sixth weekly decline in seven weeks. Sekisui House Ltd rose +2.2% after reporting first half net income increased. China Hongqiao Group Ltd tumbled -6.6% in Hong Kong after saying it plans to sell new shares to its controlling stockholder.
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.