European stocks fell as investors awaited the ECB’s monetary policy decision and any hints on further stimulus from President Mario Draghi. The ESTX 50 (-0.77%), UK markets (-0.27%), CAC 40 (-0.64%) and the Dax (-0.43%) all posted losses in early trading. Legrand SA lost -3.4% after saying 2014 sales and operating margin will be at the low end of its targets. Societe Generale SA slid -2.5% after France’s second largest bank posted third quarter earnings that missed analysts’ estimates. Adidas AG rose +4.4% after reporting quarterly profit that topped projections. HeidelbergCement AG gained +3.6% after saying third quarter earnings increased. Cable & Wireless Communications Plc dropped -7.34% after agreeing to pay about $1.85 billion for Columbus International Inc. Experian Plc added +3.9% after first half sales and profit rose. BP Plc (-0.68%), GlaxoSmithKline Plc (-1.81%) and Unilever (-0.44%) all retreated as they traded without the right to their latest dividend.
US stocks rose as Republicans won their first Senate majority in eight years and a report showed companies added more workers last month than economists forecast. The Dow Jones Industrial Average (+0.58%) and the S&P 500 (+0.57%) both gained, while the Nasdaq Composite (-0.06%) declined. Alpha Natural Resources surged +17% and Peabody Energy increased +4.8% amid expectations that Republicans will oppose restrictions on coal producers. TransCanada Corp’s US shares advanced +3.3% on speculation Republican victories will bolster support for the Keystone XL pipeline. NRG Energy Inc rallied +7.8% after reporting third quarter profits that exceeded analyst forecasts. Time Warner Inc climbed +4% after beating analysts; profit estimates last quarter after collecting higher fees for its TV channels.
Asian stocks fell as Japanese financial firms declined and a drop in iron-ore prices weighed on Australian iron producers. The Nikkei 225 (-0.86%), Hang Seng (-0.20%) and the S&P/ASX 200 (-0.21%) all retreated. Fortescue Metals Group Ltd tumbled -8.5% after iron ore fell to the lowest level in more than five years as China ordered some mills to curb output to cut pollution before hosting a global summit, hurting demand in the biggest consumer of iron just as rising supplied exacerbate a glut. Rakuten Inc surged +10% after profit at the company topped estimates. Mitsubishi UFJ Financial Group Inc, Japan’s largest lender, dropped -2%. Sapporo lost -3.1% after saying quarterly operating profit dropped 19% from a year earlier.
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.