European stocks were mixed as investors turned their focus to the US economy before a monthly jobs report. The ESTX 50 (-0.13%) and the CAC 40 (-0.04%) were slightly negative this morning, while the UK markets (+0.81%) and the Dax (+0.04%) were positive. Vestas Wind Systems A/S rallied +8.5% after raising its 2014 forecasts for sales, profitability and free cash flow after financial results for the third quarter exceeded estimates. Allianz SE rose +3.7% after saying it will pay shareholders a larger share of profit. ArcelorMittal added +3.7% after saying third quarter profit jumped +11%, beating estimates. Skanska AB gained +4.1% after third quarter sales and profit exceeded analysts’ estimates. Swiss Re advanced +2.4% after posting an unexpected increase in third quarter net income. National Grid gained +0.27% after saying first half adjusted pretax profit rose 16%.
US stocks rose as the ECB vowed to increase stimulus efforts if needed and a drop in American jobless claims bolstered optimism in the economy. The Dow Jones Industrial Average (+0.40%), S&P 500 (+0.38%) and the Nasdaq Composite (+0.38%) all advanced. Tesla Motors Inc rose +4.4% as it predicted several years of 50% sales growth amid a surge in orders. Whole Foods Market Inc rose +12% after posting better than forecast quarterly profit. Genworth Financial Inc plunged -38% after predicting a tougher path ahead after a record loss. Qualcomm Inc slid -8.6% after saying a Chinese government probe will curb profit. AES Corp fell -6.4% after reporting third quarter sales that fell short of consensus analyst estimates.
Most Asian stocks rose after a drop in American jobless claims bolstered optimism about the world’s largest economy before a government report on employment. The Nikkei 225 (+0.52%) and the S&P/ASX 200 (+0.78%) both gained, while the Hang Seng (-0.42%) declined. Companies that do business in the US rose, with Mazda climbing +1.4%. Sony Corp, a company that generates 17% of its revenue in the US, climbed +1.2%. Daikin gained +1.9% after the Nikkei newspaper reported the company’s full year operating profit will reach about 190 billion yen, beating its forecast. Mitsubishi climbed +2.2% after saying its first half profit increased 15% from a year earlier. Hong Kong Exchanges & Clearing Ltd added +2% amid optimism for cross border equity trading. Commonwealth Bank of Australia advanced +1.9%.
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.