Asian stocks are set to tumble to their lowest in nearly a year while US futures extended declines as a batch of poor corporate earnings soured sentiment. Currency traders were on edge after the yen weakened past a key level. The MSCI Asia Pacific Index fell over 1.5%, with benchmarks in South Korea and Japan sliding more than 2% each. The moves tracked Wall Street’s weakness driven by Meta Inc.’ uncertain earnings outlook and Google parent Alphabet Inc.’s disappointing cloud figures. Stocks in Hong Kong and mainland China erased gains from the previous session when fresh stimulus measures soothed sentiment. Treasury yields held most of Wednesday’s surge in Asia, which was triggered by poor demand for a sale of five-year notes. A return of rising oil prices in the previous session helped send 10-year yields back toward 5%. The elevated yields are another factor hurting the case for investment in technology firms. Nasdaq 100 futures contracts fell as much as 1.2% in Asian trading. The dollar strengthened against major currencies, with a Bloomberg gauge of the greenback climbing toward a one-year high seen earlier this month. The Australian dollar slipped as the central bank governor played down strong inflation figures. Higher Treasury yields pushed the yen past 150 per dollar again, increasing the risk of intervention from the authorities in Tokyo. Japan’s finance minister Shunichi Suzuki said authorities are watching currency moves with a high sense of urgency. Oil steadied with West Texas Intermediate trading near $85 a barrel, after rising 2% in the previous session. Israel’s Prime Minister Benjamin Netanyahu said his nation was in a battle for its very existence, and that an invasion was being prepared. The remarks reignited a war premium in the oil price that had been subsiding over the last few sessions. Wall Street grappled with a batch of corporate earnings which sent stocks lower on Wednesday amid heightened Treasury volatility. Traders also kept an eye on the latest comments by President Joe Biden after he had asked Israel to delay its invasion so that more hostages held by Hamas could be freed. Standard Chartered Plc added to the earnings gloom after the lender’s third-quarter pre-tax profit comprehensively missed analysts’ expectations. In Asia, the world’s No. 2 maker of memory chips SK Hynix Inc. reported a more moderate decline in revenue for the third quarter and said it will increase capital spending, a sign the global semiconductor market may be recovering. The stock still fell amid a broad selloff in risk assets. Gold extended gains and edged closer to $1,990 an ounce, benefitting from an increased appetite for safe haven assets. US After Hours Busy earnings night, MS names new CEO; PI +18%, FLEX +9.6%, NOW +5.2%, IBM +1.3% higher on earnings; ALGN -23.3%, MXL -10.9%, EW -6.6%, WHR -5.1%, META -1.2% lower on earnings; EDR +24.2% pops on strategic review.
Nikkei -2.21% Hang Seng -0.62% CSI -0.39% Shanghai -0.03% Shenzen -0.38%
Eur$ 1.0546 CNH 7.3286 CNY 7.3180 JPY 150.43 GBP 1.2080 CHF 0.8981 RUB 93.4063 TRY 28.1472 WTI$ 85.21 -0.21% Gold 1,989 +0.47% BTC 34,681 ETH 1,807 +1.05%
S&P -0.64% Nasdaq -1.05% EuroStoxx -1.01% FTSE -0.57% Dax -1.01% SMI -0.60%
Macro :
- Swiss Investors Face Pain From Reverse Convertibles
- Bill Ackman makes $200mn from bet against US Treasuries
Keep an eye on :
Keep an eye on :
- AC FP :
- ADP FP : ADP 9M Revenue EU4.12B Vs. EU3.38B Y/y
- AIXA GY : Aixtron 3Q Ebit Misses Estimates
- AKERBP NO : Aker BP to Report Results; Shares Up 2.2% YTD: Preview
- AAPL US : Apple Plans AirPods Overhaul After Product Emerges as Top Seller
- ALO FP : Worldline, Alstom May Exit CAC 40 at Next Review, JPMorgan Says
- ARCAD NO : Arcadis 3Q Oper Ebitda EU128M Vs. EU101M Y/y
- ATO FP : Kretinsky Plan to Buy Atos Assets Sparks French Lawmaker Worries
- ATO FP : Kretinsky Plan to Buy Atos Assets Sparks French Lawmaker Worries
- ATO FP : Atos 3Q Revenue Misses Estimates
- ATC US : Altice Co-Founder Pereira Can Be Released on Bail, Lawyer Says
- BAVA DC : Bavarian Nordic’s Mpox Vaccine Gets Routine Use Recommendation
- BFSA GY : Befesa Cuts 2023 Forecast; 3Q Adj. Ebitda Meets Estimates
- BESI NA : BE Semiconductor Sees 4Q Gross Margin 62% to 64%, Est. 63%
- BETSB SS : Betsson Reports Higher Sales in First Part of 4Q, Lower Margin
- BHG SS : BHG Group 3Q Adjusted Gross Profit Misses Estimates
- BB FP : BIC 3Q Net Sales Misses Estimates
- BIM FP : BioMerieux 3Q Organic Sales Misses Estimates
- BNP FP : BNP Paribas 3Q Net Income Misses Estimates
- BUCN SW : Bucher 9M Sales CHF2.73B Vs. CHF2.62B Y/y
- BVI FP : Bureau Veritas 3Q Organic Revenue Misses Estimates
- CAPMAN FH : CapMan 9M EPS EU0.044
- CA FP : Carrefour 3Q LFL Sales Ex-Fuel, Ex-Calendar Beats Estimates
- CO FP : Casino 3Q France Retail Sales EU3.40B
- CO FP : Casino Says Accelerated Safeguard Proceedings Opened
- CO FP : Casino Cuts France Profit Outlook On Price Investments (1)
- CEC GY : Ceconomy 4Q Sales Beats Estimates
- CRBN NA : Corbion Sees FY Core Adj. Ebitda Low End of +15% to +20%
- BN FP : Danone Sees FY Like-for-Like Sales +6% to +7%, Est. +5.86%
- ELUXB SS : Electrolux Group Proposes Torbjorn Loof as New Chairman
- EDR US : Silver Lake Working Toward Proposal to Take Endeavor Private
- ERA FP : Eramet Cuts FY Ebitda Forecast
- EL FP : PAI-Backed Eyewear Maker Marcolin Is Said to Weigh Sale
- FGR FP : Eiffage to Buy 1.76% of Getlink; Now Hold 20.55% of Its Capital
- ETL FP : Eutelsat 1Q Revenue EU274.0M
- FSKRS FH : Fiskars 3Q Comparable Ebit Misses Estimates
- FLOW NA : Flow Traders 3Q Normalized Net Trading Income EU67.6M
- FDR SM : Fluidra 9M Net Income EU108M Vs. EU179.4M Y/y
- FUG NA : Fugro 3Q Adjusted Ebit Beats Estimates
- GTT FP : Eiffage to Buy 1.76% of Getlink; Now Hold 20.55% of Its Capital
- GRNG SS : Granges 3Q Adjusted Operating Profit Beats Estimates
- HNSA SS : Hansa Biopharma 3Q Net Loss SEK250.7M, Est. Loss SEK209.8M
- HFG GY : HelloFresh to Buy Back Up to EU150m in Shares, Convertible Bonds
- HFG GY : HelloFresh Maintains FY Adjusted Ebitda Forecast
- ISP IM : Intesa Won’t Pay Bank Windfall Tax By Opting For Get-Out Clause
- IPN FP : Ipsen 3Q Sales Misses Estimates
- JMT PL : J. Martins 3Q Net Income Beats Estimates
- KESKOB FH : Kesko 3Q Adjusted Ebit Beats Estimates
- KIN BB : Kinepolis 3Q Change in Attendance +41.5%
- KGX GY : Kion 3Q Net Income EU82.0M
- SKB GY : Koenig & Bauer Expects 2023 FY Weaker Than Previously Assumed
- 9863 HK : LEAPMOTOR RISES 11% IN HK AFTER STELLANTIS AGREES TO BUY STAKE
- LIAB SS : Lindab 3Q Operating Profit Beats Estimates
- MB IM : The billionaires and the bank: the tussle at the top of Mediobanca
- MBG GY : Mercedes Now Sees Cars Adj. RoS at Lower Half of 12%-14% Range
- MIPS SS ; Mips 3Q Net Sales Misses Estimates
- MTHH DC : MT HøJgaard Holding Sells 60% Ownership Stake in Seth
- MYTIL GA : Mytilineos 9M Net Income EU462M Vs. EU312M Y/y
- NVG PL : Navigator Co 9M Net Income EU200.8M Vs. EU270.5M Y/y
- NEM GY : Nemetschek 3Q Ebitda Beats Estimates
- NXI FP : Nexity Maintains FY Revenue Forecast, Misses Estimates
- NYF SS : Nyfosa 3Q Net Operating Income Beats Estimates
- OKEA NA : Okea Makes Oil Discovery Near Brage Field in North Sea
- ORK NO : Orkla Says Rhône Buys 40% Stake in Food Ingredients Division
- PGS NO : PGS Sees FY Capex Below $100M, Saw About $100M to $100M
- PHARM NA : Pharming 3Q Revenue $66.7M Vs. $54.2M Y/y
- POM FP : Plastic Omnium FY Operating Profit Forecast Misses Estimates
- PRS NO : Prosafe Offering Prices at NOK60/Share
- RAL FP : Rallye, Euris, Others Get Opening of Ad Hoc Proceedings
- REP SM : Repsol 3Q Adjusted Income Beats Estimates
- RTN LN : Pizza Express Evaluates Making Rival Offer for TRG: Sky News
- RHM GY : Rheinmetall Prelim 3Q Operating Profit Beats Estimates
- ROG SW : Roche Plans to Fund $7.1 Billion Purchase of Telavant With Debt
- SAABB SS : Saab Boosts FY Organic Revenue Forecast
- SAB SM : Sabadell Sees FY Net Interest Income Growth +25%, Saw Above +20%
- SFER IM : Ferragamo to Buy Minority Interests in China Ventures for $42m
- SANOMA FH : Sanoma Narrows FY Revenue Forecast
- SPM IM : Saipem 3Q Revenue Meets Estimates
- WAF GY : Siltronic 3Q Sales Meets Estimates
- SCST SS : Scandi Standard 3Q Net Sales SEK3.31B Vs. SEK3.20B Y/y
- SHOT SS : Scandic 3Q Net Sales SEK6.31B Vs. SEK5.99B Y/y
- SU FP : Schneider Electric 3Q Organic Revenue Beats Estimates
- SMCP FP : SMCP 3Q Sales EU294.9M Vs. EU308.4M Y/y
- SW FP : Sodexo FY Underlying Operating Profit Beats Estimates, Sees Pluxee Listing on Euronext Paris in Early 2024
- STAN LN : StanChart Reports $697m China Bohai Bank Impairement Charge
- STLAM IM : Stellantis to Buy $1.1 Billion Stake in China EV Maker Leapmotor
- STMPA FP : STMicroelectronics 3Q Gross Margin Beats Estimates, 4Q Net Revenue Forecast Misses Esti
- SMHN GY : Suess MicroTec Slumps After Cutting FY Ebit Margin Forecast
- SWEDA SS : Swedbank’s Net Interest Income Jumps in Third Quarter on Rates
- TMV GY : TeamViewer Extends CEO’s Contract to 2028
- TIT IM : Vivendi Would Sell Telecom Italia Stake for €0.5O/Shr, Sole Says
- TIETO FH : TietoEVRY 3Q Adjusted Operating Profit Beats Estimates
- TGS NO : TGS 3Q Ebitda Misses Estimates
- FP FP : TotalEnergies Commissions LNG Floating Terminal in Le Havre
- TRELB SS : Trelleborg 3Q Adjusted Ebita Beats Estimates
- UBSG SW : UBS Moves Up Research Rankings After 10,000 Pages on Stock Picks
- ULVR LN : Unilever Promotes U.S. Head to Be Its New Marketing Chief -- WSJ
- ULVR LN : Unilever 3Q Underlying Sales Misses Estimates
- VAST NA : Vastned 3Q Occupancy 98.8% Vs. 98.2% Q/Q
- VERK FH : Verkkokauppa.com 3Q Revenue Misses Estimates
- DG FP : Vinci Unit Wins Orders for 1,950KM Transmission Lines in Brazil
- VIV FP : Vivendi Would Sell Telecom Italia Stake for €0.5O/Shr, Sole Says
- VLTSA FP : Voltalia Maintains FY Normalized Ebitda Forecast
- VOLVB SS : Volvo Car 3Q Revenue Misses Estimates
- VOLVB SS : Volvo Car Earnings Miss on Issues Selling Electric Vehicles
- VOS GY : Vossloh 9M Ebit EU76.9M
- VOW GY : VW 3Q Operating Margin Misses Estimates
- VOW GY : VW Vows to Drive Efficiencies After Disappointing Returns
- VNA GY : Vonovia CEO Sees Building Shortage Until 2025: Handelsblatt
- WCH GY : Wacker Chemie Narrows FY Ebitda Forecast, Misses Estimates
- WLN FP : Payments Stocks Wipeout Hits $80 Billion After Worldline Shock
- WLN FP : Worldline CEO Says Plunge ‘Uncorrelated to Fundamentals: Echos
- WPP LN : WPP Cuts FY LFL Revenue Less Pass-Through Costs Forecast
- XIOR BB : Xior 9M EPRA EPS EU1.50 Vs. EU1.41 Y/y
- YAR NO : Yara Intl: Draft Norway Assessment Would Boost Taxes by $170m