European shares fell in early trading, tracking losses on Wall Street and in Asia, with disappointing Chinese trade data further raising concerns over the pace of economic growth in China. The ESTX 50 (-1.88%), UK markets (-0.94%), CAC 40 (-1.59%) and the Dax (-2.01%) all posted losses this morning. UBS Group AG lost -1% after it was reported that US Justice Department is looking into whether the bank misled clients in the marketing and selling of some foreign exchange structured products. HSBC Holdings Plc fell -0.9% after a report by the International Consortium of Investigative Journalist showed its private banking unit made profits for years handling secret accounts for criminals. BNP Paribas SA declined -2.4% after JPMorgan Chase & Co lowered the stock to “sell”.
US stocks fell on Friday as better than expected US employment report raised expectations that the Federal Reserve will increase interest rates by midyear, while renewed worries over Greece’s debt negotiations added to the bearish tone. The Dow Jones Industrial Average (-0.34%), S&P 500 (-0.34%) and the Nasdaq Composite (-0.43%) all retreated. Simon Properties sank -4% on concern over interest rates. Twitter jumped +16.4% after announcing an earnings report that beat Wall Street’s profit and revenue targets in the fourth quarter. LinkedIn surged +11% after reporting higher than expected jump in quarterly revenue as more businesses used its services to assess candidates for employment. GoPro Inc tumbled -12% after it forecast a current quarter profit that could miss Wall Street expectations and said its COF was resigning.
Most Asian stocks declined as China trade figures showed signs of weakness in the region’s biggest economy. While Japanese equities rallied on a weaker yen after US payrolls topped estimates. The Nikkei 225 (+0.36%) advanced, while the Hang Seng (-0.64%) and the S&P/ASX 200 (-0.09%) both retreated. BHP Billiton Ltd lost -1% in Sydney as materials and energy shares retreated. Olympus Corp fell -3% in Tokyo after profit missed estimates and after saying a US investigation into its medical business could hurt earnings. Honda Motor Co, which gets 84% of sales overseas, rose +1% as a slump in the yen boosted Japan’s exporters. Nissan Motor Co rose +1.4%. Nippon Telegraph & Telephone Corp jumped +4.9% after reporting better than expected earnings. Sunac China Holdings Ltd rose +4.8% after it offered to buy out Kaisa Group Holdings Ltd.
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.