European stocks were little changed as Scotland prepared for a referendum on independence while investors weighed the prospects for central bank stimulus. The ESTX 50 (-0.26%), CAC 40 (-0.11%), DAX (-0.12%) and UK markets (-0.12%) all posted small declines in early trading. L’Oreal SA dropped -2.1% after lowering its market growth forecast for the second half of the year. Camesa Corp Tecnologica SA slipped -3.4% as it is raising funds through a share sale. ABB Ltd climbed +1.4% after saying it will buy back shares for $4 billion. Telecom Italia SpA advanced +2.9% as America Movil SAB said it plans to make a bid with Oi SA for the company’s wireless unit in Brazil. Quindell Plc rallied +5.5% after winning a court ruling in libel proceedings against Gotham City Research LLC. The stock slumped -39% on April 22nd after Gotham City questioned the company’s profits.
US stocks fell as declines in energy companies along with oil prices overshadowed a rally by Yahoo! Inc. The Dow Jones Industrial Average (-0.15%) and the S&P 500 (-0.31%) retreated, while the Nasdaq Composite (+0.20%) increased. Marathon Oil Corp dropped -1.7% and Newfield Exploration Co lost -4.7%, the most in the S&P 500. Exxon Mobil retreated -1.5%, while Chevron dropped -0.9% as oil prices tumbled. Ford declined -2% after Morgan Stanley downgraded the shares to “underweight” from “overweight”. Yahoo climbed +5.6% to the highest level since 2006 after Alibaba Group Holding Ltd said it plans to raise as much as $21.1 billion in an initial public offering. Campbell Soup Co slid -2.6% as its 2015 profit forecast was less than analysts had estimated.
Asia stocks were mixed after the S&P 500 retreated from a record and as consumer shares slipped. The Hang Seng (-0.20%) declined, while the Nikkei 225 (+0.28%) and the S&P/ASX 200 (+0.55%) both advanced. Newcrest Mining Ltd slid -2% after the price of bullion closed at a three month low. Honda Motor Co, a company that gets about 84% of sales abroad, added +1.1% as the yen touched its lowest level in almost six years. Okuma Corp dropped +5% in Tokyo after Credit Suisse Group AG cut its rating on the company to “underperform” from “outperform” and reduced its share price 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.