A rally in global stocks stalled in Asian trading Tuesday amid concerns a large-scale coronavirus vaccine study still has hurdles to clear despite promising results. Bonds and other haven assets climbed after overnight declines.
Shares pared gains in Japan, Hong Kong and Australia, and Chinese stocks fell. S&P 500 futures and European contracts declined. Concerns about a smaller U.S. fiscal stimulus package, still surging coronavirus cases and legal challenges to the U.S. election outcome weighed on the positive vaccine sentiment.
Earlier, the S&P 500 closed at a two-month high on news the coronavirus shot being developed by Pfizer Inc. and BioNTech SE prevented over 90% of infections. The Nasdaq 100 fell as investors rotated out of defensive technology names into shares depressed by the economic impact of lockdowns.
Yields on 10-year Treasuries traded around their highest since March. A measure of credit-market risk eased to pre-pandemic levels, and U.S. junk-bond yields fell to a record low. The dollar slipped. Oil pulled back after surging. Gold and the Japanese yen pared some of Monday’s losses.
US After Hours BYND -22.1%, NBIX -13.4%, RAMP -11.4% down on earnings; XPER +25.7% jumps as it settles litigation with Comcast; ARNA -18% falls on clinical data
Nikkei +0.26% Hang Seng +0.30% CSI -0.78% Shanghai -0.57% Shenzen -1.34%
Eur$ 1.1827 CNH 6.6095 CNY 6.6185 JPY 105.01 GBP 1.3179 CHF 0.9135 RUB 76.59 TRY 8.3737 WTI$39.69 -1.51%
S&P -0.20% Nasdaq -0.20% EuroStoxx -0.96% FTSE -1.15% Dax -1.15% SMI +1.1%
Macro :
- Brazil Halts China Vaccine Trial After Serious Adverse Event
- Sinovac Says Confident on Vaccine Safety After Brazil Trial Halt
- CITI SAYS SELL FINANCIAL STOCKS INTO RALLY; BANKS SURGE 13%
- U.S. Posts Record Cases; Vaccine Study Spurs Hope: Virus Update
- China Turns Up Heat on Internet Giants With Antitrust Rules
Keep an eye on :
- ACOMO NA : SunOpta Agrees to Sell Global Ingredients Segment to Acomo
- ADP FP : ADP Says Airports Have Around 10% of Pre-Pandemic Traffic Now
- ADS GY : Adidas 3Q Net Profit, Sales Fell But Beat Estimates
- ADS GY : Adidas Replaces Govt-Backed Facility With EU1.5b Syndicated Loan
- AF FP : France Could Increase Air France Aid If Needed, Le Maire Says
- AKER NO : Norway Seeks Authority to Sell Aker Solutions, Akastor Stakes
- ARBN SW : Arbonia Issues CHF250M Syndicated Loan; Refinances Existing Loan
- BAKKA NO : Bakkafrost 3Q Operating Ebit Misses Estimates
- BAYN GY : Bayer-Roundup Judge Moves to Resume Cancer Trials in U.S. (1)
- BB FP : BIC Signs Agreement to Sell Clichy HQ and Sites for EU175M, BIC Sees EU50M Annual Savings by ‘22; Div Pay-Out Ratio 40%-50%
- CARLB DC : Carlsberg Fires Employees After Rules Breaches Found: Berlingske
- CNHI IM : Nikola 3Q Adjusted Loss Per Share 16c, Est. Loss/Share 20c
- CNHI IM : Electric-Truck Startup Nikola Says Talks With GM Ongoing (3)
- CON SW : Recticel Buys Conzzeta’s FoamPartner in Cash Deal; EV CHF270m
- CSGN SW : Mozambique Charges ex-Minister Chang Over $2 Billion Scandal (1)
- DPW GY : Deutsche Post 3Q Revenue Meets Estimates
- DEZ GY : Deutz 3Q Adjusted Ebit Loss EU15.7M, Est. EU17.0M
- DSM LN : DSM NV: Good Q3s (robust Nutrition, Materials improvement). Outlook unchanged
- ZIL2 GY : ElringKlinger 3Q Sales Miss Estimates
- ENG SS : Swedbank Robur Accepts Raised Offer for IES
- ERICB SS : Ericsson’s Unchanged 2022 Target May Weigh on Sentiment: Citi
- HAB GY : Hamborner REIT Maintains FY FFO EU52M to EU54M
- HLE GY : Hella 1.17m Shares Are Said Offered via Bankhaus Lampe KG
- HEN3 GY ; Henkel 3Q Revenue Beats Estimates
- HBH GY : Hornbach Holding Boosts FY Adjusted Ebit Forecast
- ITP FP : Inter Parfums 3Q EPS Beats Estimates
- JEN GY : Jenoptik 9M Ebit EU32.7M
- LDO IM : Italy’s Leonardo Is Said to Consider IPO of Its U.S. Unit DRS
- MUX GY : Saint-Gobain in Exclusive Talks With Mutares to Sell Lapeyre
- NENTB SS : Nent Weighs SEK3.5b Equity Raise to Fund International Expansion
- NEOEN FP : Neoen Maintains FY Ebitda EU270M to EU285M, Est. EU282.6M
- NKT DC : NKT Sees FY Adjusted Revenue EU1.1B, Saw EU1B to EU1.1B
- NDX1 GY : Nordex Sees FY Revenue About EU4.4B, Est. EU4.39B
- NAS NO : Norwegian Air 3Q Net Loss NOK1.02B Vs. Profit NOK1.67B Y/y
- NPRO NO : Norwegian Property Offering Prices 50m Shares at NOK11.15/Share
- NPRO NO : Norwegian Property to Offer Up to 50m Shrs NOK11.15/Shr
- OHL SM : Sand Grove to Take 20% Stake in Spain’s OHL: El Confidencial
- ORNBV FH : Orion Invests EU17 Mln in Production Plant in Turku, Finland
- PSPN SW : PSP Swiss 9M Adjusted Ebitda CHF205.6M
- REC BB : Recticel Buys Conzzeta’s FoamPartner in Cash Deal; EV CHF270m
- ROTH FP : Rothschild & Co 9M Revenue EU1.24B
- SGO FP : Saint-Gobain in Exclusive Talks With Mutares to Sell Lapeyre
- SHA GY : Schaeffler Sees FY Revenue In Constant Currency -11.5% to -13%
- SGSN SW : SGS Buys Synlab’s Analytics & Services Unit for About EU550m
- ENR GY : Siemens Energy Swings to Loss as Gas-Power Projects Delayed
- 9984 JP : SoftBank Mulls Moving Vision Fund Unit to Abu Dhabi From UK: FT
- TMV GY : TeamViewer Sees FY Billings EU450M to EU455M, Saw About EU450.0M
- TMV GY : TeamViewer Raises Guidance After Surge in Remote Working
- TKA GY : Thyssenkrupp in Talks for at Least 5 Billion Euros in Steel Aid
- 8TRA GY : Traton CFO Urges ‘Strict Focus’ on Cost Cuts After 3Q Recovery
- TCELL TI : Turkcell Offering Prices at 15.25 Liras Per Share: Statement
- UN01 GY : Uniper Net Income Increases Threefold In First Nine Months
- UN01 GY : Uniper Hedges More Power for Coming Years in Third Quarter
- URW NA : Unibail Shareholders Rejected EU3.5B Capital Increase
- VOE AV : Voestalpine 2Q Ebitda Beats Estimates
- WDI GY : The Man Who Could Explain Wirecard’s $2 Billion Fraud Is Missing
- WLN FP : PayPal, Square Shares Decline With Fintech Stock Rotation
- WLN FP : Worldline Has 93.9% of Ingenico Following Tender Offer