European stocks declined as investors weighed equity valuations. The ESTX 50 (-0.20%), UK markets (-0.45%) and the CAC 40 (-0.20%) all retreated, while the DAX (+0.02%) was flat. Electrolux AB gained +6.2% after purchasing General Electric Co’s appliances division. Air France-KLM Group advanced +0.9% after saying it carried more passengers in August. Associated British Foods Plc slipped -3.6% as full year Primark sales missed analysts’ estimates. Royal Bank of Scotland and Lloyds Banking Group Plc, the UK banks that lend the most in Scotland, fell more than -2% each. Standard Life Plc, based in Edinburgh, lost -2.5%.
Most Asian stocks advanced as investors weighed data showing Chinese exports rose more than analysts projected last month, while imports unexpectedly fell. The Nikkei 225 (+0.23%) gained, while the Hang Seng (-0.235) and the S&P/ASX 200 (-0.39%) both declined. SoftBank Corp climbed +2.1% as Alibaba Group Holding Ltd, in which the company holds a stake, prepares for a record breaking IPO. Henderson Land Development Co gained +1.6% in Hong Kong after a filing showed the developer plans to sell its Citistore retail chain to a unit. Rakuten Inc slumped -4.2% after saying it is in talks to buy US website operator Ebates Shopping.com Inc.
US stocks rose as geopolitical tensions eased and lower than estimated jobs data fuelled bets the Federal Reserve won’t rush to raise interest rates. The Dow Jones Industrial Average (+0.40%), S&P 500 (+0.50%) and the Nasdaq Composite (+0.45%) were all positive before closing for the weekend. Walgreen Co rose +2.4% after saying total sales for the fourth quarter of fiscal 2014 beat estimates. Michael Kors slid -4.5% after it was reported that they will hold a secondary offering to let the company’s biggest shareholder, Sportswear Holdings Ltd, sell a stake valued at about $930 million. Gap Inc sank -4.2% after reporting sales that was less than analysts’ estimates. Gilead Sciences Inc sank -1.4% after it was reported that the company is close to a pact with generic suppliers to bring low-cost versions of its $84,000 hepatitis C drug Sovaldi to about 80 developing countries.
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.