European were steady in early trading as investors focused on a European Central Bank meeting later today. The ESTX 50 (+0.01%), CAC 40 (+0.02%) and the Dax (-0.07%) were all steady, while the UK markets (+0.55%) advanced. The euro zone economy is widely expected to require more stimulus from the ECB, but it probably won’t come from the bank’s policy meeting later today. Growth and inflation remain weak, but the ECB has already exhausted much of its firepower. Micro Focus surged +20% after sealing an $8.8 billion deal with Hewlett Packard Enterprise. Rocket Internet fell -5% after cutting the valuation of its Home24 online furniture business.
US stocks were little changed as investors assessed the outlook for US interest rates. The Dow Jones Industrial Average (-0.06%), S&P 500 (-0.01%) and the Nasdaq Composite (+0.15%) all posted small changes. Investors have been considering the likelihood of a rate hike this month from the Federal Reserve, with recent economic data including last Friday’s weaker than expected jobs report suggesting the US central bank could hold off for now. Apple gained +0.6% after unveiling its new iPhone. Chipotle Mexican Grill gained +5.9% after Pershing Square Capital Management disclosed a 9.9% stake in the chain. Delta Air rose +5.6% after saying sales trends were improving. Sprouts Farmers Market dropped -13.7% following a disappointing forecast.
Asian stocks dropped as raw materials producers and health care companies fell. Japanese shares declined as investors assessed the chances of government stimulus after revised data showed the economy grew more than estimated. The S&P/ASX 200 (-0.71%) and the Nikkei 225 (-0.32%) both retreated, while the Hang Seng (+0.75%) advanced. Nintendo Co surged +18% in Tokyo after saying it will release Super Mario Run in Apple Inc’s App Store in December, the first time the popular franchise is appearing on a smartphone. Apple suppliers Alps Electric Co and Murata Manufacturing Co sank -2.8% and -1.2% respectively, as investors weighed the impact on their earnings from Apple Inc’s latest iPhone lines.
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.