European stocks were down as investors awaited the ECB’s interest rate decision. The ESTX 50 (-0.27%), CAC 40 (-0.40%) and the DAX (-0.29%) all declined, while the UK Markets (+0.12%) were up this morning. Tesco Plc slipped -2.7% after reporting comparable sales in the Christmas holiday season that missed analysts’ estimates. William Morrison Supermarkets Plc retreated -5.9% after saying underlying profit for the year will be at the lower end of their predicted range. Arkema fell -3.2% after lowering its forecast for 2013to around €900 million from a previous estimate of €920 million. TGS Nopec Geophysical Co jumped +14% after raising its annual revenue projection. CRH Plc advanced +2% in Dublin after UBS AG advised investors to buy the shares. Standard Chartered Plc dropped -3.2% after naming Mike Rees deputy group CEO.
US stocks fell as Federal Reserve minutes and better than estimated payrolls data fuelled concern stimulus cuts may be accelerated. The Dow Jones Industrial Average (-0.41%) and the S&P 500 (-0.02%) both declined, while the NASDAQ Composite (+0.30%) increased. Ford Motor Co gained +1% after CEO Alan Mulally ruled himself out from a race for the top job at Microsoft Corp. Micron Technology Inc jumped +9.9% after reporting quarterly revenue that topped estimates. Forest Laboratories Inc climbed +18% as it agreed to buy Aptalis Pharma for $2.9 billion. Twitter dropped -3.5% after Cantor Fitzgerald LP downgraded the shares to “sell” from “hold” and said the company’s valuation is excessive. Tenet Healthcare Corp slid -1.6% after Raymond James Financial Inc cut the shares to “market perform” from “outperform”.
Asian stocks fell as China’s factory gate prices, the actual cost of manufacturing goods before any mark-up is added, extended the longest streak of declines since the Asian financial crisis and Federal Reserve minutes showed officials saw diminishing benefits from bond buying. The Nikkei 225 (-1.50%) and the Hang Seng (-0.91%) both retreated, while the S&P/ASX 200 (+0.16%) increased. Great Wall Motor Co slumped -7.9% in Hong Kong forecasting sales growth would slow this year. Canon Inc lost -2% in Tokyo on a report operating profit probably missed its own forecast. Belle International Holdings Ltd fell -3.4% in Hong Kong after surging +13% yesterday. Daiei Inc slumped -7.3% in Tokyo after cutting its operating profit forecast.
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.