European stocks swung between losses and gains this morning as investors awaited a report that may show US employers hired workers at a faster pace last month. The ESTX 50 (-0.22%) and the CAC 40 (-0.17%) both declined, while the UK Markets (+0.10%) were positive and the DAX (+0.01%) was flat. ArcelorMittal added +3.9% after reporting fourth quarter profit that beat analysts’ estimates. Statoil ASA slipped -1.5% after posting quarterly profit that declined 27%, falling short of analysts’ estimates. EMS-Chemie Holding AG rose +4% after posting earnings for 2013 that beat estimates. Shire Plc declined -1.9% after stopping development of a treatment for depression after it failed to help patients in two studies. Tate & Lyle Plc climbed +3% after JPMorgan Chase & Co and Numis Securities Ltd raised their recommendations on the shares.
US stocks rose as claims for unemployment benefits fell and earnings from several companies surpassed estimates. The Dow Jones Industrial Average (+1.22%), S&P 500 (+1.24%) and the NASDAQ Composite (+1.14%) all retreated. Disney gained +5.3% after posting quarterly profit that beat estimates. Coca-Cola Co advanced +1.1% after agreeing to buy 10% of Green Mountain Coffee Roasters Inc for about $1.25 billion. Green Mountain surged +26% Twitter Inc plunged +24% after reporting a higher than projected loss and slowing user growth. Chesapeake Energy Corp fell -6.9% after saying it sees a funding cap of about $1 billion in 2014 and plans more assets sales. Akamai soared +21% after forecasting first quarter earnings that beat analysts’ projections, allaying concern that Apple may build its own content delivery network, reducing its reliance in Akamai.
Asian stocks rose as US jobless claims fell and investors considered company earnings. The Nikkei 225 (+2.17%), Hang Seng (+1.00%) and the S&P/ASX 200 (+0.68%) all advanced. Exporters to the US gained. Honda Motor Co, a company that gets almost half its revenue in North America, added +2.9%. Yue Yuen Industrial Holdings Ltd added +2.8% and Samsung Electronics Co climbed +1.3%. Sony Corp climbed +4.1% in Tokyo after announcing job cuts and a reorganisation. Aurora Oil & Gas Ltd surged +56% in Sydney after Baytex Energy Corp agreed to buy the company. GS Engineering & Construction Corp slumped -15% in Seoul after the contractor said it’s considering a share sale. Mitsui Chemicals Inc gained +5.3% after saying it will restructure its business.
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.