- Li Chen
- 06 Nov, 2024
- Hong Kong
Stock market indexes in China and Hong Kong traded volatile as the U.S. presidential election results rolled in.
The Hang Seng index dropped 2% and the mainland-focused CSI 300 index advanced a fraction as investors attempted to understand broad implications of the U.S. election results.
Vice President Kamala Harris is trailing in the key battleground states of Michigan, Wisconsin, and Pennsylvania, which could tip the election in favor of former president Donald Trump.
Regardless of who wins the White House and control of the U.S. Congress, China's exports are likely to face higher tariffs and additional trade barriers for goods shipped routed through Vietnam and Mexico.
The Hang Seng index has advanced 27% between the announcement of stimulus measures on September 11 and October 7, but the market index has lost about 9% since then.
The Standing Committee of the People's National Congress is set to approve raising the government debt ceiling, which will pave the way for the previously announced fiscal measures to support local government finances.
China Stock Movers
The Hang Seng index declined 2% to 20,588.66, and the CSI 300 index increased 0.2% to 4,051.35.
Tech stocks traded down in Hong Kong amid a broad selloff in Chinese stocks.
Alibaba Group declined 3.4% to HK $95.10, JD.com fell 3.9% to HK $152.50, and Tencent Holdings fell 1.7% to HK $420.40.
- Arun Goswami
- 06 Nov, 2024
- Mumbai
Dalal Street indexes rebounded as investors reviewed another batch of mixed quarterly results.
The Sensex and Nifty indexes are still down 6% from the peak on September 16.
The Sensex index increased by 0.7% to 80,032.28, and the Nifty index rose by 0.7% to 24,377.85.
On the Mumbai stock exchange, 179 stocks traded at their 52-week highs, and 9 stocks traded at their 52-week lows.
JK Tyre & Industries declined 2.7% to ₹378.65 after the company reported a decline in revenue and profit in the September quarter.
Revenue fell 7% to ₹3,622 crore, and net profit plunged 44% to ₹135 crore from a year ago, respectively.
The company's quarterly results were negatively impacted by the rising rubber cost and falling sales.
Gail India increased 5.5% to ₹207.20 after the natural gas company reported higher sales and earnings in the September quarter.
Revenue from operations increased 2.8% to ₹33,981.3 crore, and net income advanced 10.2% to ₹2,693.5 crore from a year ago, respectively.
Berger Paints India advanced 0.9% to ₹517.85 after the company reported fiscal second quarter results.
Revenue in the September quarter increased 0.3% to ₹2,775 crore, and net income decreased 7.5% to ₹270 crore amid soft demand in the urban areas.
Oil India jumped 3% to ₹510.65 after the company reported mixed quarterly results.
Revenue in the September quarter decreased 7.7% to ₹8,135.9 crore, and net income soared nearly fourfold to ₹2,016.2 crore from a year ago, respectively.
Sundram Fasteners decreased 0.6% to ₹1,341.70 after the company reported muted quarterly results in the September quarter.
Revenue from operations in the fiscal second quarter increased 4.5% to ₹1,486 crore from ₹1,421.8 crore, net income increased 8% to ₹143.8 crore from ₹133.05 crore, and diluted earnings per share advanced to ₹6.78 from ₹6.28 a year ago.
The company said strong export sales supported the rise in revenue in the quarter.
The company declared a cash dividend of ₹3 per share payable on December 3 to shareholders on record on November 18.
- Arun Goswami
- 06 Nov, 2024
- Mumbai
Dalal Street indexes rebounded as investors reviewed another batch of mixed quarterly results.
The Sensex and Nifty indexes are still down 6% from the peak on September 16.
The Sensex index increased by 0.7% to 80,032.28, and the Nifty index rose by 0.7% to 24,377.85.
On the Mumbai stock exchange, 179 stocks traded at their 52-week highs, and 9 stocks traded at their 52-week lows.
JK Tyre & Industries declined 2.7% to ₹378.65 after the company reported a decline in revenue and profit in the September quarter.
Revenue fell 7% to ₹3,622 crore, and net profit plunged 44% to ₹135 crore from a year ago, respectively.
The company's quarterly results were negatively impacted by the rising rubber cost and falling sales.
Gail India increased 5.5% to ₹207.20 after the natural gas company reported higher sales and earnings in the September quarter.
Revenue from operations increased 2.8% to ₹33,981.3 crore, and net income advanced 10.2% to ₹2,693.5 crore from a year ago, respectively.
Berger Paints India advanced 0.9% to ₹517.85 after the company reported fiscal second quarter results.
Revenue in the September quarter increased 0.3% to ₹2,775 crore, and net income decreased 7.5% to ₹270 crore amid soft demand in the urban areas.
Oil India jumped 3% to ₹510.65 after the company reported mixed quarterly results.
Revenue in the September quarter decreased 7.7% to ₹8,135.9 crore, and net income soared nearly fourfold to ₹2,016.2 crore from a year ago, respectively.
Sundram Fasteners decreased 0.6% to ₹1,341.70 after the company reported muted quarterly results in the September quarter.
Revenue from operations in the fiscal second quarter increased 4.5% to ₹1,486 crore from ₹1,421.8 crore, net income increased 8% to ₹143.8 crore from ₹133.05 crore, and diluted earnings per share advanced to ₹6.78 from ₹6.28 a year ago.
The company said strong export sales supported the rise in revenue in the quarter.
The company declared a cash dividend of ₹3 per share payable on December 3 to shareholders on record on November 18.
- Brian Turner
- 05 Nov, 2024
- Washington, D.C.
International goods and service trade deficit increased to $84.4 billion in September from $62.2 billion, the Bureau of Economic Analysis reported Tuesday.
Exports increased 2.2% to $267.9 billion and impots rose 9.5% to $352.2 billion from $323.8 billion a year ago, respectively.
Exports declined after reaching record high in August as shipment of civilian aircrafts, pharmaceutical preparations, and crude oil decreased.
The increase in Imports was driven by the higher demand passenger cars, computers and semiconductors, and pharmaceutical preparations.
Trade deficit widened a whopping 35% to $84.4 billion from $62.2 billion a year ago.
The September increase in the goods and services deficit reflected an increase in the goods deficit of $14.2 billion to $109.0 billion and an increase in the services surplus of $0.6 billion to $24.6 billion.
Goods trade deficit with the European Union increased by $4.7 billion to $23.8 billion, with China increased by $2.2 billion to $26.9 billion, with Mexico by $1.7 billion to $16 billion, and with Vietnam rose by $2.5 billion to $112.2 billion.
- Brian Turner
- 05 Nov, 2024
- Washington, D.C.
International goods and service trade deficit increased to $84.4 billion in September from $62.2 billion, the Bureau of Economic Analysis reported Tuesday.
Exports increased 2.2% to $267.9 billion and impots rose 9.5% to $352.2 billion from $323.8 billion a year ago, respectively.
Exports declined after reaching record high in August as shipment of civilian aircrafts, pharmaceutical preparations, and crude oil decreased.
The increase in Imports was driven by the higher demand passenger cars, computers and semiconductors, and pharmaceutical preparations.
Trade deficit widened a whopping 35% to $84.4 billion from $62.2 billion a year ago.
The September increase in the goods and services deficit reflected an increase in the goods deficit of $14.2 billion to $109.0 billion and an increase in the services surplus of $0.6 billion to $24.6 billion.
Goods trade deficit with the European Union increased by $4.7 billion to $23.8 billion, with China increased by $2.2 billion to $26.9 billion, with Mexico by $1.7 billion to $16 billion, and with Vietnam rose by $2.5 billion to $112.2 billion.
- Alexander Garcia
- 05 Nov, 2024
- Miami
Wall Street indexes jumped more than 1% as voters lined up for the final day of voting in a closely contested presidential and congressional election.
The S&P 500 index and the Nasdaq Composite edged higher by more than 1% as investors reviewed another batch of corporate results.
The election results are likely to have significant effects on future government spending, individual and corporate tax levels, healthcare insurance affordability, funding of war in Ukraine, immigration policy, and trade barriers on goods imported from China.
Vice President Kamala Harris and former President Donald Trump avoided debating the serious issues confronting the U.S. economy: rapidly rising national debt, growing income inequality, and deteriorating international competitiveness.
About 82 million voters have cast their ballots as of Monday, representing over half of the votes cast in the 2020 presidential election, according to the Associated Press.
About 66% of the eligible voters, totaling 159 million, cast their ballots in the U.S. presidential election in 2020, the highest rate for any national election since 1900.
In addition to elections, the U.S. Federal Reserve is expected to announce its rate decisions on Thursday, and traders are divided about the possible rate cut of 25 basis points.
On the economic front, international goods and service trade deficit increased to $84.4 billion in September from $62.2 billion, the Bureau of Economic Analysis reported Tuesday.
Exports increased 2.2% to $267.9 billion and impots rose 9.5% to $352.2 billion from $323.8 billion a year ago, respectively.
Trade deficit widened a whopping 35% to $84.4 billion from $62.2 billion a year ago.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 1.1% to 5,776.60, the Nasdaq Composite rose 1.4% to 18,439.93, and the Russell 2000 index rose 1.0% to 2,241.76.
The yield on 2-year Treasury notes edged higher to 4.20%, 10-year Treasury notes inched higher to 4.33%, and 30-year Treasury bonds increased to 4.51%.
WTI crude oil increased $1.05 to $72.51 a barrel, and natural gas prices edged down 6 cents to $2.71 a thermal unit.
Gold increased by $6.53 to $2,742.52 an ounce, and silver increased by $0.30 to $32.70.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 103.75.
U.S. Stock Movers
Restaurant Brands International declined 2.2% to $68.50 after the parent of Burger King reported mixed quarterly results.
Palantir Technologies increased 15.4% to $47.72 after the software company and defense contractor reported higher than expected quarterly results.
NXP Semiconductors dropped 5% to $224.50 after the advanced chip maker estimated weaker-than-expected fourth quarter revenue, citing macroeconomic weakness in the U.S. and Europe.
Wynn Resorts decreased 2% to $93.64 after the casino operator reported weaker-than-expected revenue and earnings in the third quarter.
Boeing Company increased 1.8% to $157.90 after the striking workers agreed to accept the 38% pay hike over four years and ratification and productivity bonuses.
The vote ends the 53-day strike that crippled the aviation company and resumes the much-needed cash.
About 33,000 workers are set to resume work after 59% of union members voting members accepted the company's third formal offer.
Yum Brands increased 0.1% to $133.0 after the parent company of Pizza Hut and KFC reported weaker-than-expected quarterly results.
Same-store sales at both KFC and Pizza Hut declined 4%.
European Markets Struggled to Advance, Spain's Jobless Count Edged Higher
European markets traded around the flatline as investors reviewed another batch of quarterly results and awaited rate decisions this week.
Benchmark indexes in Paris, Milan, Frankfurt, and London lacked direction after a fresh batch of mixed earnings.
Investors are also awaiting rate decisions from central banks of the U.S., U.K., Sweden, and Norway later in the week.
The U.S. Federal Reserve and the Bank of England are likely to lower their key lending rates by 25 basis points after policy meetings on Thursday.
Moreover, investors are also awaiting the results of the U.S. presidential and congressional elections, which could impact the future funding of the NATO and trade relations between the U.S. and the eurozone.
Spain Jobless Count Advanced In October
The number of people registered as jobless increased by 26,769 from the previous month to 2.602 million in October, the lowest number for this month since 2007, according to the ministry of employment and social security.
On an annual basis, the number of unemployed declined by 157,350, or about 5.7%, from a year ago and fell at the fastest pace since September 2023.
Registered unemployment increased in all 17 autonomous communities, with the largest increases in Andalusia (7,723), Castilla-La Mancha (3,859), and Catalonia (2,909).
Unemployment among young people under 25 years of age rose in October by 8,361 people compared to the previous month.
France's Industrial Output Declined In September
France's industrial output declined 0.9% from the previous month in September, following the downwardly revised 1.1% increase in August, France's statistical agency INSEE reported on Tuesday.
Industrial activity declined for the first time since May, driven by a fall in manufacturing activities by 0.8%, in mining, energy, water supply, and waste management by 1.2%, and in construction activities by 0.3%.
On an annual basis, industrial output declined 0.6%.
Europe Indexes and Yields
The DAX index increased by 0.5% to 19,256.27; the CAC-40 index rose by 0.5% to 7,407.15; and the FTSE 100 index fell by 0.1% to 8,172.39.
The yield on 10-year German bonds edged higher to 2.42%, French bonds inched higher to 3.16%, the UK gilts edged higher to 4.49%, and Italian bonds decreased to 3.70%.
The euro edged higher to $1.09; the British pound inched higher to $1.29; and the U.S. dollar weakened to 86.19 Swiss cents.
Brent crude increased $0.96 to $76.06 a barrel, and the Dutch TTF natural gas rose by €0.08 to €40.40 per MWh.
Europe Stock Movers
Vestas Wind Systems declined 8.8% to DKK 124.0 after the wind turbine company lowered its estimate of operating earnings before special charges to €450 million from €500 million.
Adecco Group declined 10.5% to CHF 24.14 after the Swiss staffing company reported third quarter results that lagged market expectations.
Revenue in the third quarter declined 4% to €5.7 billion and net income fell 4% to €99 million from a year ago, respectively.
The temporary and permanent staffing services provider said market conditions are challenging in France and the United States.
"Macroeconomic conditions are challenging, but volume trends have stabilized," said chief executive Denis Machuel.
Syensqo increased 6.1% to €77.36 after the Belgian chemical company said it plans to reduce about 2% of its workforce.
Associated British Foods increased 0.7% to 2,305.0 pence after the parent of retailer Primark reported strong financial results for the year ending on September 14.
Group revenue increased 2% to £20.0 billion from £19.8 billion, pre-tax profit advanced 43% to £1.9 billion from £1.3 billion, and basic earnings per share rose 44% to 193.7 pence from 134.20 pence a year ago.
Free cash flow soared to £1.4 billion from £269 million a year ago, driven by significant growth in operating profit and improvement in working capital.
Japan Indexes Rebounded After Two Days of Losses
Tokyo market indexes advanced after investors returned from a three-day holiday.
The Nikkei 225 stock average gained 1% and the Topix index advanced 0.8% after investors reacted to the rebound in tech stocks in overnight trading in New York.
Last week, market indexes extended losses to the third week in a row amid growing policy uncertainty and political instability.
Investors are looking forward to the possible formation of an alliance between LDP-Komeito and the Democratic Party for the People, ending political instability for now.
Moreover, mixed corporate results dampened market sentiment as investors grappled with elevated tensions in the Middle East.
Market enthusiasm was muted ahead of the U.S. presidential and congressional election on Wednesday, which could determine the direction of future government spending, support for the war in Ukraine, and military activities in Asia.
The U.S. Federal Reserve is set to announce its rate decisions on Thursday, and investors are divided about the possible rate cut of 25 basis points following the supersize 50-basis-point cut in September.
Japan Stock Movers: Yamaha and NH Foods Dropped 10%
The Nikkei 225 Stock Average increased 1.1% to 38,474.90, and the broader Topix index advanced 0.8% to 2,664.26.
Tokyo Electron gained 1.9% to ¥22,930.0, Advantest increased 1.7% to ¥8,899.0, and Disco Corp. advanced 4.4% to ¥44,540.0.
Yamaha Corp. declined 13.2% to ¥1,081.0 after the musical instrument company reported interim results.
Revenue in the first-half ending in September increased 3.9% to 228.1 billion yen, net income plunged 64.6% to 5.3 billion yen, and earnings per share dropped to 10.67 from 29.44 a year ago.
The company declared an interim dividend of 37 yen per share, reflecting a 3-for-1 stock split on October 1.
NH Foods declined 9.7% to ¥4,754.0 after the food processing company reported its interim financial results.
Revenue in the first half ending in September increased 4.9% to 683.8 billion yen, net profit declined 9.8% to 19.7 billion yen, and earnings per share eased to 174.19 yen from 194.88 yen a year ago.
The company estimated year-end dividend of 135 yen, an increase from 119 yen in the previous year.
China and Hong Kong Indexes Advanced Second Consecutive Day
China and Hong Kong stocks advanced following a private measure of the service sector showing rising activities.
The Hang Seng index and the mainland-focused CSI 300 index increased 1.5% in the hopes that the world's second-largest economy will continue open markets to attract foreign investments.
The Caixin China General Services PMI increased to 52.0 in October from 50.3 in the previous month and advanced at the fastest pace in three months following a series of supportive measures from the People's Bank of China and the finance ministry.
The latest service data added to last week's positive signals from the manufacturing and construction sectors, indicating that the stimulus measures are helping the economy for now.
Premier Li Qiang said China is ready to open local markets to foreign investors and urged local government officials to remove internal barriers to create a larger national market.
Premier Qiang was speaking to a group of Chinese officials and business leaders at the start of the China International Import Expo in Shanghai on Tuesday.
Despite the warm welcome offered to foreign investors, many long-time investors in China are leaving and setting up new operations in Vietnam, Mexico, India, and Malaysia.
Investors are leaving China because of Beijing's arbitary enforcement of law, slowing economic growth, persistent stealing of intellectual property, and rising tensions with the West.
China Stock Movers
The Hang Seng index increased 1.5% to 20,855.24, and the mainland-focused CSI 300 index jumped 2.4% to 4,038.10.
Yum China increased 5.5% to HK $380.20 after the operator of a chain of fast food stores reported higher-than-expected earnings.
Property stocks rebounded for the second day in a row in the hopes that the Standing Committee of the People's National Congress is likely to provide strong measures to revive the property markets at the end of the meeting on Friday.
China Vanke increased 2.6% to HK $7.47, China Resources Land gained 1.7% to HK $27.0, and Longfor Group Holdings advanced 1.9% to HK $13.36.
Nongfu Spring soared 7.4% to HK $13.36, and SMIC advanced 4.2% to HK $26.95. China and Hong Kong stocks advanced following a private measure of the service sector showing rising activities.
The Hang Seng index and the mainland-focused CSI 300 index increased 1.5% in the hopes that the world's second-largest economy will continue open markets to attract foreign investments.
The Caixin China General Services PMI increased to 52.0 in October from 50.3 in the previous month and advanced at the fastest pace in three months following a series of supportive measures from the People's Bank of China and the finance ministry.
The latest service data added to last week's positive signals from the manufacturing and construction sectors, indicating that the stimulus measures are helping the economy for now.
Premier Li Qiang said China is ready to open local markets to foreign investors and urged local government officials to remove internal barriers to create a larger national market.
Premier Qiang was speaking to a group of Chinese officials and business leaders at the start of the China International Import Expo in Shanghai on Tuesday.
Despite the warm welcome offered to foreign investors, many long-time investors in China are leaving and setting up new operations in Vietnam, Mexico, India, and Malaysia.
Investors are leaving China because of Beijing's arbitary enforcement of law, slowing economic growth, persistent stealing of intellectual property, and rising tensions with the West.
China Stock Movers
The Hang Seng index increased 1.5% to 20,855.24, and the mainland-focused CSI 300 index jumped 2.4% to 4,038.10.
Yum China increased 5.5% to HK $380.20 after the operator of a chain of fast food stores reported higher-than-expected earnings.
Property stocks rebounded for the second day in a row in the hopes that the Standing Committee of the People's National Congress is likely to provide strong measures to revive the property markets at the end of the meeting on Friday.
China Vanke increased 2.6% to HK $7.47, China Resources Land gained 1.7% to HK $27.0, and Longfor Group Holdings advanced 1.9% to HK $13.36.
Nongfu Spring soared 7.4% to HK $13.36, and SMIC advanced 4.2% to HK $26.95.
- Alexander Garcia
- 05 Nov, 2024
- Miami
Wall Street indexes jumped more than 1% as voters lined up for the final day of voting in a closely contested presidential and congressional election.
The S&P 500 index and the Nasdaq Composite edged higher by more than 1% as investors reviewed another batch of corporate results.
The election results are likely to have significant effects on future government spending, individual and corporate tax levels, healthcare insurance affordability, funding of war in Ukraine, immigration policy, and trade barriers on goods imported from China.
Vice President Kamala Harris and former President Donald Trump avoided debating the serious issues confronting the U.S. economy: rapidly rising national debt, growing income inequality, and deteriorating international competitiveness.
About 82 million voters have cast their ballots as of Monday, representing over half of the votes cast in the 2020 presidential election, according to the Associated Press.
About 66% of the eligible voters, totaling 159 million, cast their ballots in the U.S. presidential election in 2020, the highest rate for any national election since 1900.
In addition to elections, the U.S. Federal Reserve is expected to announce its rate decisions on Thursday, and traders are divided about the possible rate cut of 25 basis points.
On the economic front, international goods and service trade deficit increased to $84.4 billion in September from $62.2 billion, the Bureau of Economic Analysis reported Tuesday.
Exports increased 2.2% to $267.9 billion and impots rose 9.5% to $352.2 billion from $323.8 billion a year ago, respectively.
Trade deficit widened a whopping 35% to $84.4 billion from $62.2 billion a year ago.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 1.1% to 5,776.60, the Nasdaq Composite rose 1.4% to 18,439.93, and the Russell 2000 index rose 1.0% to 2,241.76.
The yield on 2-year Treasury notes edged higher to 4.20%, 10-year Treasury notes inched higher to 4.33%, and 30-year Treasury bonds increased to 4.51%.
WTI crude oil increased $1.05 to $72.51 a barrel, and natural gas prices edged down 6 cents to $2.71 a thermal unit.
Gold increased by $6.53 to $2,742.52 an ounce, and silver increased by $0.30 to $32.70.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 103.75.
U.S. Stock Movers
Restaurant Brands International declined 2.2% to $68.50 after the parent of Burger King reported mixed quarterly results.
Palantir Technologies increased 15.4% to $47.72 after the software company and defense contractor reported higher than expected quarterly results.
NXP Semiconductors dropped 5% to $224.50 after the advanced chip maker estimated weaker-than-expected fourth quarter revenue, citing macroeconomic weakness in the U.S. and Europe.
Wynn Resorts decreased 2% to $93.64 after the casino operator reported weaker-than-expected revenue and earnings in the third quarter.
Boeing Company increased 1.8% to $157.90 after the striking workers agreed to accept the 38% pay hike over four years and ratification and productivity bonuses.
The vote ends the 53-day strike that crippled the aviation company and resumes the much-needed cash.
About 33,000 workers are set to resume work after 59% of union members voting members accepted the company's third formal offer.
Yum Brands increased 0.1% to $133.0 after the parent company of Pizza Hut and KFC reported weaker-than-expected quarterly results.
Same-store sales at both KFC and Pizza Hut declined 4%.
European Markets Struggled to Advance, Spain's Jobless Count Edged Higher
European markets traded around the flatline as investors reviewed another batch of quarterly results and awaited rate decisions this week.
Benchmark indexes in Paris, Milan, Frankfurt, and London lacked direction after a fresh batch of mixed earnings.
Investors are also awaiting rate decisions from central banks of the U.S., U.K., Sweden, and Norway later in the week.
The U.S. Federal Reserve and the Bank of England are likely to lower their key lending rates by 25 basis points after policy meetings on Thursday.
Moreover, investors are also awaiting the results of the U.S. presidential and congressional elections, which could impact the future funding of the NATO and trade relations between the U.S. and the eurozone.
Spain Jobless Count Advanced In October
The number of people registered as jobless increased by 26,769 from the previous month to 2.602 million in October, the lowest number for this month since 2007, according to the ministry of employment and social security.
On an annual basis, the number of unemployed declined by 157,350, or about 5.7%, from a year ago and fell at the fastest pace since September 2023.
Registered unemployment increased in all 17 autonomous communities, with the largest increases in Andalusia (7,723), Castilla-La Mancha (3,859), and Catalonia (2,909).
Unemployment among young people under 25 years of age rose in October by 8,361 people compared to the previous month.
France's Industrial Output Declined In September
France's industrial output declined 0.9% from the previous month in September, following the downwardly revised 1.1% increase in August, France's statistical agency INSEE reported on Tuesday.
Industrial activity declined for the first time since May, driven by a fall in manufacturing activities by 0.8%, in mining, energy, water supply, and waste management by 1.2%, and in construction activities by 0.3%.
On an annual basis, industrial output declined 0.6%.
Europe Indexes and Yields
The DAX index increased by 0.5% to 19,256.27; the CAC-40 index rose by 0.5% to 7,407.15; and the FTSE 100 index fell by 0.1% to 8,172.39.
The yield on 10-year German bonds edged higher to 2.42%, French bonds inched higher to 3.16%, the UK gilts edged higher to 4.49%, and Italian bonds decreased to 3.70%.
The euro edged higher to $1.09; the British pound inched higher to $1.29; and the U.S. dollar weakened to 86.19 Swiss cents.
Brent crude increased $0.96 to $76.06 a barrel, and the Dutch TTF natural gas rose by €0.08 to €40.40 per MWh.
Europe Stock Movers
Vestas Wind Systems declined 8.8% to DKK 124.0 after the wind turbine company lowered its estimate of operating earnings before special charges to €450 million from €500 million.
Adecco Group declined 10.5% to CHF 24.14 after the Swiss staffing company reported third quarter results that lagged market expectations.
Revenue in the third quarter declined 4% to €5.7 billion and net income fell 4% to €99 million from a year ago, respectively.
The temporary and permanent staffing services provider said market conditions are challenging in France and the United States.
"Macroeconomic conditions are challenging, but volume trends have stabilized," said chief executive Denis Machuel.
Syensqo increased 6.1% to €77.36 after the Belgian chemical company said it plans to reduce about 2% of its workforce.
Associated British Foods increased 0.7% to 2,305.0 pence after the parent of retailer Primark reported strong financial results for the year ending on September 14.
Group revenue increased 2% to £20.0 billion from £19.8 billion, pre-tax profit advanced 43% to £1.9 billion from £1.3 billion, and basic earnings per share rose 44% to 193.7 pence from 134.20 pence a year ago.
Free cash flow soared to £1.4 billion from £269 million a year ago, driven by significant growth in operating profit and improvement in working capital.
Japan Indexes Rebounded After Two Days of Losses
Tokyo market indexes advanced after investors returned from a three-day holiday.
The Nikkei 225 stock average gained 1% and the Topix index advanced 0.8% after investors reacted to the rebound in tech stocks in overnight trading in New York.
Last week, market indexes extended losses to the third week in a row amid growing policy uncertainty and political instability.
Investors are looking forward to the possible formation of an alliance between LDP-Komeito and the Democratic Party for the People, ending political instability for now.
Moreover, mixed corporate results dampened market sentiment as investors grappled with elevated tensions in the Middle East.
Market enthusiasm was muted ahead of the U.S. presidential and congressional election on Wednesday, which could determine the direction of future government spending, support for the war in Ukraine, and military activities in Asia.
The U.S. Federal Reserve is set to announce its rate decisions on Thursday, and investors are divided about the possible rate cut of 25 basis points following the supersize 50-basis-point cut in September.
Japan Stock Movers: Yamaha and NH Foods Dropped 10%
The Nikkei 225 Stock Average increased 1.1% to 38,474.90, and the broader Topix index advanced 0.8% to 2,664.26.
Tokyo Electron gained 1.9% to ¥22,930.0, Advantest increased 1.7% to ¥8,899.0, and Disco Corp. advanced 4.4% to ¥44,540.0.
Yamaha Corp. declined 13.2% to ¥1,081.0 after the musical instrument company reported interim results.
Revenue in the first-half ending in September increased 3.9% to 228.1 billion yen, net income plunged 64.6% to 5.3 billion yen, and earnings per share dropped to 10.67 from 29.44 a year ago.
The company declared an interim dividend of 37 yen per share, reflecting a 3-for-1 stock split on October 1.
NH Foods declined 9.7% to ¥4,754.0 after the food processing company reported its interim financial results.
Revenue in the first half ending in September increased 4.9% to 683.8 billion yen, net profit declined 9.8% to 19.7 billion yen, and earnings per share eased to 174.19 yen from 194.88 yen a year ago.
The company estimated year-end dividend of 135 yen, an increase from 119 yen in the previous year.
China and Hong Kong Indexes Advanced Second Consecutive Day
China and Hong Kong stocks advanced following a private measure of the service sector showing rising activities.
The Hang Seng index and the mainland-focused CSI 300 index increased 1.5% in the hopes that the world's second-largest economy will continue open markets to attract foreign investments.
The Caixin China General Services PMI increased to 52.0 in October from 50.3 in the previous month and advanced at the fastest pace in three months following a series of supportive measures from the People's Bank of China and the finance ministry.
The latest service data added to last week's positive signals from the manufacturing and construction sectors, indicating that the stimulus measures are helping the economy for now.
Premier Li Qiang said China is ready to open local markets to foreign investors and urged local government officials to remove internal barriers to create a larger national market.
Premier Qiang was speaking to a group of Chinese officials and business leaders at the start of the China International Import Expo in Shanghai on Tuesday.
Despite the warm welcome offered to foreign investors, many long-time investors in China are leaving and setting up new operations in Vietnam, Mexico, India, and Malaysia.
Investors are leaving China because of Beijing's arbitary enforcement of law, slowing economic growth, persistent stealing of intellectual property, and rising tensions with the West.
China Stock Movers
The Hang Seng index increased 1.5% to 20,855.24, and the mainland-focused CSI 300 index jumped 2.4% to 4,038.10.
Yum China increased 5.5% to HK $380.20 after the operator of a chain of fast food stores reported higher-than-expected earnings.
Property stocks rebounded for the second day in a row in the hopes that the Standing Committee of the People's National Congress is likely to provide strong measures to revive the property markets at the end of the meeting on Friday.
China Vanke increased 2.6% to HK $7.47, China Resources Land gained 1.7% to HK $27.0, and Longfor Group Holdings advanced 1.9% to HK $13.36.
Nongfu Spring soared 7.4% to HK $13.36, and SMIC advanced 4.2% to HK $26.95. China and Hong Kong stocks advanced following a private measure of the service sector showing rising activities.
The Hang Seng index and the mainland-focused CSI 300 index increased 1.5% in the hopes that the world's second-largest economy will continue open markets to attract foreign investments.
The Caixin China General Services PMI increased to 52.0 in October from 50.3 in the previous month and advanced at the fastest pace in three months following a series of supportive measures from the People's Bank of China and the finance ministry.
The latest service data added to last week's positive signals from the manufacturing and construction sectors, indicating that the stimulus measures are helping the economy for now.
Premier Li Qiang said China is ready to open local markets to foreign investors and urged local government officials to remove internal barriers to create a larger national market.
Premier Qiang was speaking to a group of Chinese officials and business leaders at the start of the China International Import Expo in Shanghai on Tuesday.
Despite the warm welcome offered to foreign investors, many long-time investors in China are leaving and setting up new operations in Vietnam, Mexico, India, and Malaysia.
Investors are leaving China because of Beijing's arbitary enforcement of law, slowing economic growth, persistent stealing of intellectual property, and rising tensions with the West.
China Stock Movers
The Hang Seng index increased 1.5% to 20,855.24, and the mainland-focused CSI 300 index jumped 2.4% to 4,038.10.
Yum China increased 5.5% to HK $380.20 after the operator of a chain of fast food stores reported higher-than-expected earnings.
Property stocks rebounded for the second day in a row in the hopes that the Standing Committee of the People's National Congress is likely to provide strong measures to revive the property markets at the end of the meeting on Friday.
China Vanke increased 2.6% to HK $7.47, China Resources Land gained 1.7% to HK $27.0, and Longfor Group Holdings advanced 1.9% to HK $13.36.
Nongfu Spring soared 7.4% to HK $13.36, and SMIC advanced 4.2% to HK $26.95.
- Scott Peters
- 05 Nov, 2024
- New York City
Restaurant Brands International declined 2.2% to $68.50 after the parent of Burger King reported mixed quarterly results.
Palantir Technologies increased 15.4% to $47.72 after the software company and defense contractor reported higher than expected quarterly results.
NXP Semiconductors dropped 5% to $224.50 after the advanced chip maker estimated weaker-than-expected fourth quarter revenue, citing macroeconomic weakness in the U.S. and Europe.
Wynn Resorts decreased 2% to $93.64 after the casino operator reported weaker-than-expected revenue and earnings in the third quarter.
Boeing Company increased 1.8% to $157.90 after the striking workers agreed to accept the 38% pay hike over four years and ratification and productivity bonuses.
The vote ends the 53-day strike that crippled the aviation company and resumes the much-needed cash.
About 33,000 workers are set to resume work after 59% of union members voting members accepted the company's third formal offer.
Yum Brands increased 0.1% to $133.0 after the parent company of Pizza Hut and KFC reported weaker-than-expected quarterly results.
Same-store sales at both KFC and Pizza Hut declined 4%.
- Scott Peters
- 05 Nov, 2024
- New York City
Restaurant Brands International declined 2.2% to $68.50 after the parent of Burger King reported mixed quarterly results.
Palantir Technologies increased 15.4% to $47.72 after the software company and defense contractor reported higher than expected quarterly results.
NXP Semiconductors dropped 5% to $224.50 after the advanced chip maker estimated weaker-than-expected fourth quarter revenue, citing macroeconomic weakness in the U.S. and Europe.
Wynn Resorts decreased 2% to $93.64 after the casino operator reported weaker-than-expected revenue and earnings in the third quarter.
Boeing Company increased 1.8% to $157.90 after the striking workers agreed to accept the 38% pay hike over four years and ratification and productivity bonuses.
The vote ends the 53-day strike that crippled the aviation company and resumes the much-needed cash.
About 33,000 workers are set to resume work after 59% of union members voting members accepted the company's third formal offer.
Yum Brands increased 0.1% to $133.0 after the parent company of Pizza Hut and KFC reported weaker-than-expected quarterly results.
Same-store sales at both KFC and Pizza Hut declined 4%.
- Barry Adams
- 05 Nov, 2024
- New York City
Stocks on Wall Street traded in a tight range as voters across the U.S. cast their ballots on the final day of voting in the tightly contested presidential and congressional elections.
The S&P 500 index and the Nasdaq Composite edged higher by 0.3% as investors reviewed another batch of corporate results.
The election results are likely to have significant effects on government spending, individual and corporate taxes, healthcare insurance, NATO funding to support war in Ukraine, immigration policy, and trade barriers on goods imported from China.
About 82 million voters have cast their ballots as of Monday, representing over half of the votes cast in the 2020 presidential election, according to the Associated Press.
About 66% of the eligible voters, totaling 159 million, cast their ballots in the U.S. presidential election in 2020, the highest rate for any national election since 1900.
In addition to elections, the U.S. Federal Reserve is expected to announce its rate decisions on Thursday, and traders are divided about the possible rate cut of 25 basis points.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.4% to 5,734.39, the Nasdaq Composite rose 0.5% to 18,275.43, and the Russell 2000 index rose 0.4% to 2,219.03.
The yield on 2-year Treasury notes edged higher to 4.20%, 10-year Treasury notes inched higher to 4.33%, and 30-year Treasury bonds increased to 4.51%.
WTI crude oil increased $0.52 to $71.98 a barrel, and natural gas prices edged up 3 cents to $2.81 a thermal unit.
Gold increased by $1.74 to $2,737.64 an ounce, and silver increased by $0.19 to $32.59.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 103.75.
U.S. Stock Movers
Restaurant Brands International declined 2.2% to $68.50 after the parent of Burger King reported mixed quarterly results.
Palantir Technologies increased 15.4% to $47.72 after the software company and defense contractor reported higher than expected quarterly results.
NXP Semiconductors dropped 5% to $224.50 after the advanced chip maker estimated weaker-than-expected fourth quarter revenue, citing macroeconomic weakness in the U.S. and Europe.
Wynn Resorts decreased 2% to $93.64 after the casino operator reported weaker-than-expected revenue and earnings in the third quarter.
Boeing Company increased 1.8% to $157.90 after the striking workers agreed to accept the 38% pay hike over four years and ratification and productivity bonuses.
The vote ends the 53-day strike that crippled the aviation company and resumes the much-needed cash.
About 33,000 workers are set to resume work after 59% of union members voting members accepted the company's third formal offer.
Yum Brands increased 0.1% to $133.0 after the parent company of Pizza Hut and KFC reported weaker-than-expected quarterly results.
Same-store sales at both KFC and Pizza Hut declined 4%.
- Barry Adams
- 05 Nov, 2024
- New York City
Stocks on Wall Street traded in a tight range as voters across the U.S. cast their ballots on the final day of voting in the tightly contested presidential and congressional elections.
The S&P 500 index and the Nasdaq Composite edged higher by 0.3% as investors reviewed another batch of corporate results.
The election results are likely to have significant effects on government spending, individual and corporate taxes, healthcare insurance, NATO funding to support war in Ukraine, immigration policy, and trade barriers on goods imported from China.
About 82 million voters have cast their ballots as of Monday, representing over half of the votes cast in the 2020 presidential election, according to the Associated Press.
About 66% of the eligible voters, totaling 159 million, cast their ballots in the U.S. presidential election in 2020, the highest rate for any national election since 1900.
In addition to elections, the U.S. Federal Reserve is expected to announce its rate decisions on Thursday, and traders are divided about the possible rate cut of 25 basis points.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.4% to 5,734.39, the Nasdaq Composite rose 0.5% to 18,275.43, and the Russell 2000 index rose 0.4% to 2,219.03.
The yield on 2-year Treasury notes edged higher to 4.20%, 10-year Treasury notes inched higher to 4.33%, and 30-year Treasury bonds increased to 4.51%.
WTI crude oil increased $0.52 to $71.98 a barrel, and natural gas prices edged up 3 cents to $2.81 a thermal unit.
Gold increased by $1.74 to $2,737.64 an ounce, and silver increased by $0.19 to $32.59.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 103.75.
U.S. Stock Movers
Restaurant Brands International declined 2.2% to $68.50 after the parent of Burger King reported mixed quarterly results.
Palantir Technologies increased 15.4% to $47.72 after the software company and defense contractor reported higher than expected quarterly results.
NXP Semiconductors dropped 5% to $224.50 after the advanced chip maker estimated weaker-than-expected fourth quarter revenue, citing macroeconomic weakness in the U.S. and Europe.
Wynn Resorts decreased 2% to $93.64 after the casino operator reported weaker-than-expected revenue and earnings in the third quarter.
Boeing Company increased 1.8% to $157.90 after the striking workers agreed to accept the 38% pay hike over four years and ratification and productivity bonuses.
The vote ends the 53-day strike that crippled the aviation company and resumes the much-needed cash.
About 33,000 workers are set to resume work after 59% of union members voting members accepted the company's third formal offer.
Yum Brands increased 0.1% to $133.0 after the parent company of Pizza Hut and KFC reported weaker-than-expected quarterly results.
Same-store sales at both KFC and Pizza Hut declined 4%.
- Inga Muller
- 05 Nov, 2024
- Frankfurt
European markets traded in a tight range as investors reviewed the latest batch of underwhelming earnings.
The central banks of the U.S., U.K., Sweden, and Norway are set to announce their rate decisions later in the week.
The DAX index increased by 0.1% to 19,156.42; the CAC-40 index rose by 0.1% to 7,376.05; and the FTSE 100 index rose by 0.3% to 8,209.53.
The yield on 10-year German bonds edged higher to 2.42%, French bonds inched higher to 3.16%, the UK gilts edged higher to 4.49%, and Italian bonds decreased to 3.70%.
Vestas Wind Systems declined 8.8% to DKK 124.0 after the wind turbine company lowered its estimate of operating earnings before special charges to €450 million from €500 million.
Adecco Group declined 10.5% to CHF 24.14 after the Swiss staffing company reported third quarter results that lagged market expectations.
Revenue in the third quarter declined 4% to €5.7 billion and net income fell 4% to €99 million from a year ago, respectively.
The temporary and permanent staffing services provider said market conditions are challenging in France and the United States.
"Macroeconomic conditions are challenging, but volume trends have stabilized," said chief executive Denis Machuel.
Syensqo increased 6.1% to €77.36 after the Belgian chemical company said it plans to reduce about 2% of its workforce.
Hugo Boss AG declined 5.3% to €40.76 after the German fashion company reported a decline in third quarter net profit.
Revenues were flat at €1.03 billion, net income declined 12% to €56 million from €63 million, and earnings per share fell 13% to 79 cents from 91 cents a year ago.
Associated British Foods increased 0.7% to 2,305.0 pence after the parent of retailer Primark reported strong financial results for the year ending on September 14.
Group revenue increased 2% to £20.0 billion from £19.8 billion, pre-tax profit advanced 43% to £1.9 billion from £1.3 billion, and basic earnings per share rose 44% to 193.7 pence from 134.20 pence a year ago.
Free cash flow soared to £1.4 billion from £269 million a year ago, driven by significant growth in operating profit and improvement in working capital.
ASOS slumped 7.3% to 348.34 pence after the online fashion retailer reported a wider pre-tax loss for the fiscal year 2024.
The company's stock has plunged 86% over the last five years.
Revenue in the year ending on September 1, 2024 dropped 16% to £2.9 billion from £3.5 billion, and pre-tax loss widened to £379.3 million from £296.7 million a year ago.
However, free cash flow swung to an inflow £37.7 million from an outflow of £213.0 million a year ago.
Schroders plc plunged 14.1% to 312.20 pence after the investment management company reported quarterly outflow of £2.3 billion, and the company warned more outflow are likely.
- Inga Muller
- 05 Nov, 2024
- Frankfurt
European markets traded in a tight range as investors reviewed the latest batch of underwhelming earnings.
The central banks of the U.S., U.K., Sweden, and Norway are set to announce their rate decisions later in the week.
The DAX index increased by 0.1% to 19,156.42; the CAC-40 index rose by 0.1% to 7,376.05; and the FTSE 100 index rose by 0.3% to 8,209.53.
The yield on 10-year German bonds edged higher to 2.42%, French bonds inched higher to 3.16%, the UK gilts edged higher to 4.49%, and Italian bonds decreased to 3.70%.
Vestas Wind Systems declined 8.8% to DKK 124.0 after the wind turbine company lowered its estimate of operating earnings before special charges to €450 million from €500 million.
Adecco Group declined 10.5% to CHF 24.14 after the Swiss staffing company reported third quarter results that lagged market expectations.
Revenue in the third quarter declined 4% to €5.7 billion and net income fell 4% to €99 million from a year ago, respectively.
The temporary and permanent staffing services provider said market conditions are challenging in France and the United States.
"Macroeconomic conditions are challenging, but volume trends have stabilized," said chief executive Denis Machuel.
Syensqo increased 6.1% to €77.36 after the Belgian chemical company said it plans to reduce about 2% of its workforce.
Hugo Boss AG declined 5.3% to €40.76 after the German fashion company reported a decline in third quarter net profit.
Revenues were flat at €1.03 billion, net income declined 12% to €56 million from €63 million, and earnings per share fell 13% to 79 cents from 91 cents a year ago.
Associated British Foods increased 0.7% to 2,305.0 pence after the parent of retailer Primark reported strong financial results for the year ending on September 14.
Group revenue increased 2% to £20.0 billion from £19.8 billion, pre-tax profit advanced 43% to £1.9 billion from £1.3 billion, and basic earnings per share rose 44% to 193.7 pence from 134.20 pence a year ago.
Free cash flow soared to £1.4 billion from £269 million a year ago, driven by significant growth in operating profit and improvement in working capital.
ASOS slumped 7.3% to 348.34 pence after the online fashion retailer reported a wider pre-tax loss for the fiscal year 2024.
The company's stock has plunged 86% over the last five years.
Revenue in the year ending on September 1, 2024 dropped 16% to £2.9 billion from £3.5 billion, and pre-tax loss widened to £379.3 million from £296.7 million a year ago.
However, free cash flow swung to an inflow £37.7 million from an outflow of £213.0 million a year ago.
Schroders plc plunged 14.1% to 312.20 pence after the investment management company reported quarterly outflow of £2.3 billion, and the company warned more outflow are likely.
- Bridgette Randall
- 05 Nov, 2024
- London
European markets traded around the flatline as investors reviewed another batch of quarterly results and awaited rate decisions this week.
Benchmark indexes in Paris, Milan, Frankfurt, and London lacked direction after a fresh batch of mixed earnings.
Investors are also awaiting rate decisions from central banks of the U.S., U.K., Sweden, and Norway later in the week.
The U.S. Federal Reserve and the Bank of England are likely to lower their key lending rates by 25 basis points after policy meetings on Thursday.
Moreover, investors are also awaiting the results of the U.S. presidential and congressional elections, which could impact the future funding of the NATO and trade relations between the U.S. and the eurozone.
Spain Jobless Count Advanced In October
The number of people registered as jobless increased by 26,769 from the previous month to 2.602 million in October, the lowest number for this month since 2007, according to the ministry of employment and social security.
On an annual basis, the number of unemployed declined by 157,350, or about 5.7%, from a year ago and fell at the fastest pace since September 2023.
Registered unemployment increased in all 17 autonomous communities, with the largest increases in Andalusia (7,723), Castilla-La Mancha (3,859), and Catalonia (2,909).
Unemployment among young people under 25 years of age rose in October by 8,361 people compared to the previous month.
France's Industrial Output Declined In September
France's industrial output declined 0.9% from the previous month in September, following the downwardly revised 1.1% increase in August, France's statistical agency INSEE reported on Tuesday.
Industrial activity declined for the first time since May, driven by a fall in manufacturing activities by 0.8%, in mining, energy, water supply, and waste management by 1.2%, and in construction activities by 0.3%.
On an annual basis, industrial output declined 0.6%.
Europe Indexes and Yields
The DAX index increased by 0.1% to 19,156.42; the CAC-40 index rose by 0.1% to 7,376.05; and the FTSE 100 index rose by 0.3% to 8,209.53.
The yield on 10-year German bonds edged higher to 2.42%, French bonds inched higher to 3.16%, the UK gilts edged higher to 4.49%, and Italian bonds decreased to 3.70%.
The euro edged higher to $1.09; the British pound inched higher to $1.29; and the U.S. dollar weakened to 86.19 Swiss cents.
Brent crude increased $0.26 to $75.34 a barrel, and the Dutch TTF natural gas rose by €0.48 to €40.97 per MWh.
Europe Stock Movers
Vestas Wind Systems declined 8.8% to DKK 124.0 after the wind turbine company lowered its estimate of operating earnings before special charges to €450 million from €500 million.
Adecco Group declined 10.5% to CHF 24.14 after the Swiss staffing company reported third quarter results that lagged market expectations.
Revenue in the third quarter declined 4% to €5.7 billion and net income fell 4% to €99 million from a year ago, respectively.
The temporary and permanent staffing services provider said market conditions are challenging in France and the United States.
"Macroeconomic conditions are challenging, but volume trends have stabilized," said chief executive Denis Machuel.
Syensqo increased 6.1% to €77.36 after the Belgian chemical company said it plans to reduce about 2% of its workforce.
Associated British Foods increased 0.7% to 2,305.0 pence after the parent of retailer Primark reported strong financial results for the year ending on September 14.
Group revenue increased 2% to £20.0 billion from £19.8 billion, pre-tax profit advanced 43% to £1.9 billion from £1.3 billion, and basic earnings per share rose 44% to 193.7 pence from 134.20 pence a year ago.
Free cash flow soared to £1.4 billion from £269 million a year ago, driven by significant growth in operating profit and improvement in working capital.
- Bridgette Randall
- 05 Nov, 2024
- London
European markets traded around the flatline as investors reviewed another batch of quarterly results and awaited rate decisions this week.
Benchmark indexes in Paris, Milan, Frankfurt, and London lacked direction after a fresh batch of mixed earnings.
Investors are also awaiting rate decisions from central banks of the U.S., U.K., Sweden, and Norway later in the week.
The U.S. Federal Reserve and the Bank of England are likely to lower their key lending rates by 25 basis points after policy meetings on Thursday.
Moreover, investors are also awaiting the results of the U.S. presidential and congressional elections, which could impact the future funding of the NATO and trade relations between the U.S. and the eurozone.
Spain Jobless Count Advanced In October
The number of people registered as jobless increased by 26,769 from the previous month to 2.602 million in October, the lowest number for this month since 2007, according to the ministry of employment and social security.
On an annual basis, the number of unemployed declined by 157,350, or about 5.7%, from a year ago and fell at the fastest pace since September 2023.
Registered unemployment increased in all 17 autonomous communities, with the largest increases in Andalusia (7,723), Castilla-La Mancha (3,859), and Catalonia (2,909).
Unemployment among young people under 25 years of age rose in October by 8,361 people compared to the previous month.
France's industrial output declined in September.
France's industrial output declined 0.9% from the previous month in September, following the downwardly revised 1.1% increase in August, France's statistical agency INSEE reported on Tuesday.
Industrial activity declined for the first time since May, driven by a fall in manufacturing activities by 0.8%, in mining, energy, water supply, and waste management by 1.2%, and in construction activities by 0.3%.
On an annual basis, industrial output declined 0.6%.
Europe Indexes and Yields
The DAX index increased by 0.1% to 19,156.42; the CAC-40 index rose by 0.1% to 7,376.05; and the FTSE 100 index rose by 0.3% to 8,209.53.
The yield on 10-year German bonds edged higher to 2.42%, French bonds inched higher to 3.16%, the UK gilts edged higher to 4.49%, and Italian bonds decreased to 3.70%.
The euro edged higher to $1.09; the British pound inched higher to $1.29; and the U.S. dollar weakened to 86.19 Swiss cents.
Brent crude increased $0.26 to $75.34 a barrel, and the Dutch TTF natural gas rose by €0.48 to €40.97 per MWh.
Europe Stock Movers
Vestas Wind Systems declined 8.8% to DKK 124.0 after the wind turbine company lowered its estimate of operating earnings before special charges to €450 million from €500 million.
Adecco Group declined 10.5% to CHF 24.14 after the Swiss staffing company reported third quarter results that lagged market expectations.
Revenue in the third quarter declined 4% to €5.7 billion and net income fell 4% to €99 million from a year ago, respectively.
The temporary and permanent staffing services provider said market conditions are challenging in France and the United States.
"Macroeconomic conditions are challenging, but volume trends have stabilized," said chief executive Denis Machuel.
Syensqo increased 6.1% to €77.36 after the Belgian chemical company said it plans to reduce about 2% of its workforce.
Associated British Foods increased 0.7% to 2,305.0 pence after the parent of retailer Primark reported strong financial results for the year ending on September 14.
Group revenue increased 2% to £20.0 billion from £19.8 billion, pre-tax profit advanced 43% to £1.9 billion from £1.3 billion, and basic earnings per share rose 44% to 193.7 pence from 134.20 pence a year ago.
Free cash flow soared to £1.4 billion from £269 million a year ago, driven by significant growth in operating profit and improvement in working capital.