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Asian Markets Mixed Amid Cautious Trades
(RTTNews) - Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious ahead of the release of key US economic data later in the week that could impact the expectations regarding how quickly the US Fed will lower interest rates. Rising geopolitical tensions in the Middle East is also weighing on market sentiment. Asian markets closed mostly higher on Monday.
Crudes oil prices plunged after Israel's retaliatory attack against Iran over the weekend did not damage the Islamic republic's energy facilities.
The monthly jobs report, consumer confidence, pending home sales, manufacturing sector activity, third quarter GDP as well as a report on personal income and spending that includes the Fed's preferred inflation readings are likely to be in the spotlight this week.
While the Fed is widely expected to lower interest rates by another quarter point next month, CME Group's FedWatch Tool currently indicating a nearly 30 percent chance the central bank will leave rates unchanged in December.
Extending the gains in the previous two sessions, the Australian stock market is trading modestly higher on Tuesday, following the broadly positive cues from Wall Street overnight. The benchmark SP/ASX 200 is staying well above the 8,200 level, with gains in mining, financial and technology stocks partially offset by weakness in energy stocks amid tumbling crude oil prices.
The benchmark SP/ASX 200 Index is gaining 40.60 points or 0.49 percent to 8,250.90, after touching a high of 8,262.10 earlier. The broader All Ordinaries Index is up 40.20 points or 0.47 percent to 8,518.40. Australian stocks closed slightly higher on Monday.
Among the major miners, BHP Group, Rio Tinto and Fortescue Metals are edging up 0.3 to 0.5 percent each, while Mineral Resources is surging more than 5 percent.
Oil stocks are mostly lower. Origin Energy and Santos are edging down 0.3 percent each, while Woodside Energy is losing almost 1 percent and Beach energy is declining more than 1 percent.
Among tech stocks, Appen is gaining almost 4 percent, WiseTech Global is adding almost 3 percent, Afterpay owner Block rising 1.5 percent, Xero is edging up 0.2 percent and Zip is soaring more than 9 percent after reporting upbeat half-year financial results.
Gold miners are mostly higher. Gold Road Resources and Resolute Mining are edging up 0.2 to 0.3 percent each, while Evolution Mining is gaining almost 1 percent, Newmont is adding more than 2 percent and Northern Star resources is advancing almost 2 percent.
Among the big four banks, Commonwealth Bank and Westpac are gaining almost 1 percent each, while ANZ Banking and National Australia Bank are edging up 0.1 to 0.5 percent each.
In other news, shares in Premier Investment are rallying more than 11 precent after it agreed to sell its apparel brands business in Australia and New Zealand to Myer.
In the currency market, the Aussie dollar is trading at $0.658 on Tuesday.
Adding to the sharp gains in the previous session, the Japanese stock market is trading notably higher on Tuesday after opening in the red, with the Nikkei 225 moving above the 38,800 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by index heavyweights and financial stocks.
The markets are reacting to domestic data showing unemployment rate edged lower to 2.4 percent in September from 2.5 percent in August, the lowest in eight months.
The benchmark Nikkei 225 Index closed the morning session at 38,819.51, up 213.98 points or 0.55 percent, after touching a high of 38,897.93 earlier. Japanese shares ended sharply higher on Monday.
Market heavyweight SoftBank Group is gaining more than 2 percent and Uniqlo operator Fast Retailing is edging down 0.4 percent. Among automakers, Honda is edging down 0.1 percent and Toyota is also edging down 0.2 percent.
In the tech space, Advantest is gaining more than 1 percent, while Screen Holdings and Tokyo Electron are edging up 0.1 to 0.3 percent each.
In the banking sector, Mitsubishi UFJ Financial and Mizuho Financial are gaining almost 3 percent each, while Sumitomo Mitsui Financial is adding more than 2 percent.
The major exporters are mostly higher. Mitsubishi Electric is adding more than 1 percent, while Panasonic and Sony are gaining almost 1 percent each. Canon is edging down 0.4 percent.
Among the other major gainers, M3 is surging almost 5 percent, Shionogi Co. is gaining more than 4 percent and Nitto Denko is adding almost 4 percent, while Furukawa Electric, IHI and Kawasaki Heavy Industries are advancing more than 3 percent each. Astellas Pharma and Renesas Electronics are rising almost 3 percent each.
Conversely, Toto is plummeting almost 13 percent and Tokuyama is losing 3.5 percent.
In economic news, the unemployment rate in Japan came in at a seasonally adjusted 2.4 percent in September, the Ministry of Internal Affairs and Communications said on Tuesday. That was below expectations for 2.5 percent, which would have been unchanged from the August reading.
The jobs-to-applicant ratio was 1.24 - beating forecasts for 1.23, which again would have been unchanged from the previous month. The participation rate was 63.5 percent, shy of forecasts for 63.6 percent, which would have been steady from a month prior.
In the currency market, the U.S. dollar is trading in the higher 152 yen-range on Tuesday.
Elsewhere in Asia, Taiwan is down 1.8 percent, while New Zealand, Singapore and South Korea are lower by between 0.1 and 0.3 percent each. Hong Kong is up 1.1 percent, while China, Malaysia and Indonesia are higher by between 0.1 and 0.3 percent each.
On Wall Street, stocks gave back ground over the course of the trading day on Monday but managed to end the day mostly higher after showing a strong move to the upside early in the session. The major averages all finished the day in positive territory after turning in mixed performances over the two previous sessions.
The Dow advanced 273.17 points or 0.7 percent to 42,387.57, the Nasdaq climbed 48.58 points or 0.3 percent to 18,567.19 and the SP 500 rose 15.40 points or 0.3 percent to 5,821.52.
The major European markets also moved to the upside on the day. While the French CAC 40 Index advanced by 0.8 percent, the U.K.'s FTSE 100 Index and the German DAX Index rose by 0.5 percent and 0.4 percent, respectively.
Crude oil prices fell sharply on Monday as concerns about supply disruptions faded after Israel avoided hitting Iranian oil facilities over the weekend. West Texas Intermediate Crude oil futures for December plunged $4.40 or 6.1 percent at $67.38 a barrel.
Bay Street Seen Opening Higher On Firm Commodities
(RTTNews) - Canadian shares are likely to open on a positive note Tuesday morning, tracking higher crude oil and metal prices. Investors will also be reacting to earnings news from a slew of top name U.S. companies, including Alphabet.
The focus will also be on Bank of Canada Governor Tiff Macklem's comments at the House of Commons Standing Committee on Finance later in the day.
After five successive days of losses, the Canadian market closed on a firm note on Monday thanks to strong gains in consumer discretionary, consumer staples, healthcare and financials sectors.
Several stocks from technology and industrials sectors also closed notably higher. Energy stocks fell as oil prices tumbled.
The benchmark SP/TSX Composite Index ended up by 101.99 points or 0.42% at 24,565.66. The index touched a low of 24,406.42 and a high of 24,598.96.
Asian stocks closed mixed on Tuesday as investors looked ahead to a slew of U.S. economic data as well as tech megacap earnings for directional cues. Traders also remained apprehensive that a Donald Trump victory in the upcoming U.S. presidential election may slow global growth.
China's Shanghai Composite index fell 1.08 percent to 3,286.41 as caution set in ahead of next week's top leadership meeting that is expected to discuss stimulus measures. Investors also reacted to reports suggesting that the Biden administration has finalized restrictions on investments by U.S. individuals and companies into advanced technology in China.
European stocks are slightly higher on Tuesday with investors looking ahead to a slew of U.S. economic data as well as tech megacap earnings for directional clues.
In commodities, West Texas Intermediate crude oil futures are up $0.86 or 1.28% at $68.25 a barrel.
Gold futures are up $7.70 or 0.28% at $2,763.60 an ounce, while Silver futures are gaining $0.334 or 0.96% at $34.335 an ounce.
Sensex, Nifty Seen Tad Lower At Open
(RTTNews) - Indian shares look set open a tad lower on Tuesday as investors react to mixed global cues and earnings results from Bharti Airtel, Tata Technologies and Indian Oil Corporation.
Meanwhile, the Finance Ministry's latest monthly economic review has flagged softer urban demand and factory output during the first half of FY25, but nevertheless maintained that the economy will grow between 6.5 percent and 7 percent through 2024-25.
Benchmark indexes Sensex and Nifty climbed around 0.8 percent and 0.7 percent, respectively on Monday to snap a week-long losing streak. The rupee ended flat at 84.07 against the dollar after briefly dipping to a record low.
Overseas investors remained net sellers of Indian equities for the 21st consecutive session on Monday and offloaded shares worth approximately Rs 3,228.1 crore, while domestic institutional investors stayed net buyers for the 25th straight session and bought stocks worth Rs 1,400.9 crore, stock exchange data showed.
Asian markets fluctuated in a narrow range this morning as traders braced for the release of key U.S. economic data this week and next week's U.S. presidential election.
The Japanese yen hovered near a three-month low after the country's ruling party lost its parliamentary majority in recent elections.
Gold traded about half a percent higher above $2,750 per ounce while oil steadied after having tumbled 6 percent on Monday, marking its biggest decline in more than two years.
U.S. stocks advanced overnight after ending mixed over the two previous sessions.
Investors kept a close eye on political news and looked forward to key economic data and earnings from several of the biggest tech-related companies.
The Dow gained 0.7 percent, while the SP 500 and the tech-heavy Nasdaq Composite both edged up by 0.3 percent.
European stocks closed higher on Monday amid improved risk sentiment as Middle East tensions eased.
The pan European STOXX 600 gained 0.4 percent. The German DAX rose 0.4 percent, France's CAC 40 climbed 0.8 percent and the U.K.'s FTSE 100 added half a percent.
Starbucks Threatens To Fire Staff If Not Returning To Office
(RTTNews) - Coffee giant Starbucks Corp. has warned to fire corporate staff if they don't adhere to the policy of return to office three days a week, Bloomberg reported, citing an email.
The company plans to launch a standardized process in January to hold employees accountable, if they don't obey the return-to-office policy, and the consequences could include, up to, and including, separation.
However, workers can request an exemption due to medical or psychological reasons.
Reports quoted Starbucks as saying, "We are continuing to support our leaders as they hold their teams accountable to our existing hybrid work policy. We've made updates to our workspaces to make sure they work for the teams who use them."
Starbucks is also said to be moving away from requiring Tuesday as a common attendance day for all workers at headquarters. According to the memo, the company has set the expectations at a team level.
The newly appointed Chief Executive Brian Niccol last month had indicated that the best place for employees to get their jobs done would be the office.
Niccol, who took charge as the chairman and chief executive officer of the coffee chain on September 9, lives in California where he has a remote office. But, his own work arrangement allows him to travel 1,000 miles to Seattle on the company's corporate jet.
Though the decision related to CEO's commute was criticised by some workers and outsiders, Starbucks noted that Niccol will spend most of his time in Seattle or visiting stores.
Since the start of the pandemic in 2020, the company's corporate workforce has been working remotely. Later, they were required to return to office one day a week.
In January last year, then CEO Howard Schultz wrote in a memo that the coffee giant's badging data showed employees were not meeting their minimum promise of one day a week, and asked its corporate employees to return to the office a minimum of three days a week, with a view to rebuilding and reviving the energy of its headquarters and regional offices.
Meanwhile, many Starbucks employees had opposed that plan through an open letter.
The latest development comes as the new CEO, Niccol, last month announced his priorities for his initial days, with a view to focusing on improving the coffee giant's U.S. business before moving to the international markets.
In an open letter to employees, customers, and stakeholders, he pointed out the firm's drift from its core, and presented a plan for the first 100 days to re-establish Starbucks as the community coffeehouse.
Among others, Amazon.com Chief Executive Officer Andy Jassy recently ordered its employees to start reporting to their desks five days a week, beginning in January. At present, many Amazon employees are working from home two days a week.
Dell Technologies also informed its staff earlier this year that those who chose to remain remote wouldn't be eligible for promotion.
FTSE 100 Modestly Higher Ahead Of Budget
(RTTNews) - U.K. stocks were seeing modest gains in cautious trade on Tuesday ahead of the budget announcement due on Wednesday.
Analysts expect the Autumn Budget to introduce key fiscal reforms, including tax changes and wage adjustments that could significantly impact the industry landscape.
The benchmark FTSE 100 was up 27 points, or 0.3 percent, at 8,312 after rising half a percent on Monday.
HSBC shares surged more than 4 percent after the Asia-focused bank reported stronger-than-expected third-quarter earnings and announced a hefty $3 billion buyback.
Energy giant BP Plc dropped 1 percent as it reported lower profit and cash flow from a year ago, weighed down by a drop in refining profits and weaker oil trading.
German Consumer Confidence Improves Despite Deteriorating Economic Expectations
(RTTNews) - Consumer sentiment in Germany is set to rebound in November to its highest level in over two-and-a-half-years as both income expectations and the willingness to buy showed back-to-back improvements though economic expectations continued to weaken, the closely watched survey showed on Tuesday.
The forward-looking consumer sentiment index rose to -18.3 in November from a revised value of -21.0 in October, the survey published jointly by the market research group GfK and the Nuremberg Institute for Market Decisions (NIM) revealed.
Although the sentiment improved for the second straight month and also hit the highest since April 2022, the level of consumer climate still remained low, the GfK said.
The overall weak level of consumer climate caused by crises, wars, and rising prices is still very much present and is preventing factors that encourage consumption, Rolf Bürkl, consumer expert at NIM, said.
"Reports of a rising number of company insolvencies and plans to cut jobs or relocate production abroad are also preventing a more significant recovery in consumer sentiment," said Bürkl.
German households were once again somewhat more pessimistic about overall economic development for the coming year.
Economic expectations weakened for the third month in a row in October. The corresponding index posted 0.2 compared to 0.7 in September. This was the lowest score since March 2024.
The government forecast the largest euro area economy to contract 0.2 percent this year. Last week, the International Monetary Fund projected the economy to stagnate this year and expand 0.8 percent in 2025.
Destatis is slated to publish the first estimate for the third quarter GDP on October 30.
Consumers were more optimistic about their own future financial situation for the second straight month. The income expectations index rose by 3.6 points to 13.7 points.
The survey showed that easing inflation as well as rising pay growth helped real income to increase significantly.
Further, rising income expectations underpinned an improvement in willingness to buy. The index regarding willingness to buy improved by 2.2 points and stood at -4.7, which was the highest level in more than two and a half years.
Although the willingness to buy is currently showing a slight upward trend, the level is still very low. However, negative circumstances may arise in the coming months with the increase in unemployment and company insolvencies.
The willingness to save fell moderately to 7.2 in October from 12.0 a month ago. The latest survey was conducted between October 4 and 15.
UK Mortgage Approvals At 25-Month High
(RTTNews) - UK mortgage approvals increased to the highest level in more than two years in September suggesting renewed confidence in the housing market, official data revealed Tuesday.
Mortgage approvals for house purchases, an indicator of future borrowing, rose by 700 to 65,600 in September, the Bank of England reported. This was the highest since August 2022.
Likewise, approvals for remortgaging increased 3,100 to 30,800.
However, net borrowing of mortgage debt by individuals dropped GBP 0.3 billion to GBP 2.5 billion in September. This was the first fall in four months.
Nonetheless, annual growth in net mortgage lending continued its upward trend observed since April 2024. On year, net mortgage lending rose 0.9 percent, following prior month's 0.7 percent increase.
The 'effective' interest rate, which is the actual interest paid on newly drawn mortgages decreased by 8 basis points to 4.76 percent in September.
The BoE had reduced its benchmark rate by a quarter-point in August, which was the first reduction since March 2020. At the September meeting, the bank had maintained the rate at 5.00 percent.
Consumer credit decreased to GBP 1.2 billion from GBP 1.4 billion in the previous month. Annual growth in consumer credit eased to 7.5 percent from 7.7 percent.
Borrowing through credit cards fell to GBP 0.4 billion from GBP 0.5 billion. Meanwhile, net borrowing through other forms of consumer credit decreased to GBP 0.8 billion from GBP 0.9 billion.
Capital Economics' economist Paul Dales said there is little evidence that the prospect of tax rises has caused households to become more cautious with their borrowing.
While household borrowing and spending may be a bit softer after the scale of tax rises is revealed in tomorrow's Budget, the economy likely expanded in September and will grow by a decent 0.4 percent sequentially or so in the fourth quarter, the economist noted.
Dales expects the bank rate to eventually fall to 3.00 percent from the current 5.00 percent, suggesting that mortgage rates will fall to around 3.60 percent by the end of next year.
CAC 40 Rises Ahead Of Alphabet's Earnings
(RTTNews) - French stocks traded higher on Tuesday as investors looked ahead to a slew of U.S. economic data as well as tech megacap earnings this week for directional cues.
Google parent Alphabet is due to unveil its earnings later in the day, with investors keen to see how growth at its key search business is progressing during a time of rising competition.
Markets also keep a close eye on the upcoming Nov. 5 U.S. presidential election.
A Trump victory may be on the horizon, but most major polls currently show him locked in a tight race with Vice President Kamala Harris.
The benchmark CAC 40 was up 34 points, or half a percent, at 7,591 after climbing 0.8 percent in the previous session.
China-linked Kering, Hermes and LVMH were rising ahead of a top leadership meeting in China next week, expected to discuss stimulus measures.
European Shares Climb With Big Tech Earnings In Focus
(RTTNews) - European stocks rose on Tuesday as investors looked ahead to a slew of U.S. economic data as well as tech megacap earnings this week for directional cues.
Google parent Alphabet is due to unveil its earnings later in the day, with investors keen to see how growth at its key search business is progressing during a time of rising competition.
Markets also keep a close eye on Wednesday's U.K. budget announcement and the upcoming Nov. 5 U.S. presidential election.
Analysts expect the Autumn Budget to introduce key fiscal reforms, including tax changes and wage adjustments that could significantly impact the industry landscape.
A Trump victory may be on the horizon, but most major polls currently show him locked in a tight race with Vice President Kamala Harris.
Meanwhile, a survey showed earlier today that Germany's consumer confidence is set to recover more strongly in November to hit a more than two-and-a-half-year high.
The forward-looking consumer sentiment index rose to -18.3 in November from a revised value of -21.0 in October as both income expectations and the willingness to buy showed a back-to-back improvement, according to a survey conducted by the market research group GfK and the Nuremberg Institute for Market Decisions (NIM).
Elsewhere, U.K. shop prices declined the most in more than three years in October amid falling non-food prices and easing food inflation, the British Retail Consortium, or BRC, said.
The shop price index declined 0.8 percent on a yearly basis in October, larger than the 0.6 percent decrease in the previous month. This was the weakest deflation since August 2021.
The pan European STOXX 600 was up 0.2 percent at 522 after rising 0.4 percent on Monday.
The German DAX rose 0.4 percent, France's CAC 40 added 0.6 percent and the U.K.'s FTSE 100 was up half a percent.
In corporate news, Spain's largest insurer Mapfre surged 4.3 percent after saying its net profit rose 39 percent in first nine months of the year.
Lender Banco Santander lost 2.8 percent as Q3 net interest income came below consensus estimates.
Swiss pharmaceutical giant Novartis AG fell nearly 3 percent despite raising its annual profit guidance for the third straight quarter.
HSBC shares surged more than 4 percent in London after the Asia-focused bank reported stronger-than-expected third-quarter earnings and announced a hefty $3 billion buyback.
Energy giant BP Plc dropped 1 percent as it reported lower profit and cash flow from a year ago, weighed down by a drop in refining profits and weaker oil trading.
China-linked Kering, Hermes and LVMH all were up around 1 percent in Paris ahead of a top leadership meeting in China next week, expected to discuss stimulus measures.
German sportswear maker Adidas gained 1 percent after posting solid third-quarter results and raising its annual profit target for the third quarter in a row.
Lufthansa fell 2.7 percent as the airline reported a 9 percent year-on-year decline in its third-quarter operating profit.
Sensex, Nifty Extend Gains For Second Day; Auto And Pharma Stocks Decline
(RTTNews) - Indian shares recovered from an early slide to end modestly higher on Tuesday.
The benchmark SP/BSE Sensex rose 363.99 points, or 0.45 percent, at 80,369.03, extending gains for a second straight session.
The broader NSE Nifty index closed up 127.70 points, or 0.2 percent, at 24,466.85.
Financials took the lead, with SBI rallying more than 5 percent after its newly appointed chairman said he would like to leverage the bank's technology and digitalization to reach the under-served across the country amid intense competition for deposits.
SBI Life, HDFC Life, Eicher Motors and BEL jumped 3-5 percent.
Automakers led losses, with Hero MotoCorp, Tata Motors and Maruti Suzuki India falling 3-4 percent due to concerns over subdued festive demand.
Sun Pharma dropped 2 percent despite reporting a 28 percent rise in quarterly profit. Peer Dr Reddy's Laboratories fell 2.5 percent after shares turned ex-split on Monday.
Xerox Shares Hit On Cautious Outlook After Q3 Miss Street
(RTTNews) - Shares of Xerox Holdings Corp. were plunging around 21 percent in the early morning trading on the Nasdaq, as the workplace technology company trimmed its fiscal 2024 margin and revenue forecast, after reporting a hefty loss in its third quarter, compared to prior year's profit, with weak revenues. Adjusted earnings and top line missed market estimates.
Steve Bandrowczak, chief executive officer at Xerox, said, "While equipment revenue fell short of expectations, we continue to see steady progress from Reinvention initiatives taken to date. … Operational improvements and enterprise-wide efficiencies are driving services signings momentum, improved
decision-making and a sustainably lower cost base. These gains give us confidence Reinvention will enable long-term profitable growth as we continue this multi-year journey."
For fiscal 2024, the company now expects adjusted operating margin of around 5 percent, lower than previously expected at least 6.5 percent.
Revenue for the year is now expected to be down around 10 percent in constant currency, while the previous outlook was a decline of 5 percent to 6 percent in constant currency.
The outlook was lowered to reflect additional reductions in non-strategic revenue and lower-than-expected equipment sales.
Due to lower-than-expected revenue in 2024, Xerox said it no longer expects to grow adjusted operating income $300 million above 2023 levels by 2026. However, the firm continues to expect growth in adjusted operating income and a return to double-digit adjusted operating income margin over the course of its Reinvention.
In its third quarter, Xerox reported net loss attributable to shareholders of $1.21 billion or $9.71 per share, compared to last year's profit of $45 million or $0.28 per share.
The latest result were hurt by a non-cash goodwill impairment charge of approximately $1.0 billion or $8.16 per share.
Adjusted earnings were $34 million or $0.25 per share for the period, compared to $77 million or $0.46 per share a year ago.
Revenue for the quarter declined 7.5 percent to $1.528 billion from $1.652 billion in the same period last year. The drop was 7.3 percent at constant currency rates.
Analysts on average expected the company to report earnings of $0.51 per share on sales of $1.63 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
Print and Other revenues fell 7.5 percent from last year to $1.46 billion.
On the Nasdaq, Xerox shares were trading at $8.16, down 20.62 percent.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Novartis Lifts FY24 Outlook After Q3 Beats Market; But Stock Down
(RTTNews) - Swiss drug major Novartis AG on Tuesday raised its core operating income and sales guidance for fiscal 2024 after reporting significantly higher profit in its third quarter, driven by sales growth in key drugs. The third-quarter core earnings and topline beat market estimates.
Meanwhile, the shares were losing around 3 percent in the Swiss trading as well as in early morning trading on the NYSE.
Vas Narasimhan, CEO of Novartis, said, "Novartis delivered another quarter of strong operational performance in Q3, with sales up 10 percent and core operating income up 20 percent. All key growth drivers contributed to the momentum. With the momentum in our business and pipeline, we were able to once again upgrade our full-year guidance and remain highly confident in our mid-term outlook."
For the full year, Novartis now expects its core operating income growth in high teens against prior outlook for a growth from mid to high teens.
Annual sales are now projected to grow in low double-digits, compared with previous expectation for a high single to low double-digit growth.
In its third quarter, net earnings of the drug maker stood at $3.185 billion, up from last year's $1.763 billion. Earnings per share surged to $1.58 from $0.85 in the prior year.
Excluding prior year's discontinued operations, net income grew 111 percent from last year's $1.513 billion, and earnings per share surged 116 percent from $0.73 in the prior year.
Core net income on a continuing operations was $4.13 billion, compared to $3.59 billion last year. Core earnings per share were $2.06, compared to $1.74 a year ago.
Analysts on average expected the company to report earnings of $1.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
Operating income grew 106 percent from last year to $3.63 billion, and core operating income went up 17 percent to $5.15 billion.
Core operating income margin was 40.1 percent, 340 basis points higher than last year, mainly driven by higher net sales.
Net sales improved 9 percent to $12.823 billion from prior year's $11.782 billion. At constant currency rates, net sales went up 10 percent. The Street was looking for sales of $12.76 billion for the quarter.
Entresto brand generated sales of $1.865 billion, up 26 percent at CC from last year. Sales of Cosentyx brand rose by 27 percent to $1.693 billion.
In Switzerland, Novartis shares were trading at 97.17 francs, down 2.65 percent.
On the NYSE, the shares were at $111.68, down 3.42 percent.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Rally May Stall For Hong Kong Stock Market
(RTTNews) - The Hong Kong stock market has moved higher in three straight sessions, gathering more than 200 points or 0.9 percent along the way. The Hang Seng Index now sits just above the 20,700-point plateau although it may be stuck in neutral on Wednesday.
The global forecast for the Asian markets offers little clarity, although technology shares may provide a slight boost. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The Hang Seng finished modestly higher on Tuesday following gains from the insurance companies, weakness from the properties and a mixed picture from the technology stocks.
For the day, the index added 101.78 points or 0.49 percent to finish at 20,701.14 after trading between 20,563.74 and 20,890.08.
Among the actives, Alibaba Group climbed 0.93 percent, while Alibaba Health Info added 0.50 percent, ANTA Sports lost 0.63 percent, China Life Insurance rallied 1.08 percent, China Mengniu Dairy skidded 1.05 percent, China Resources Land and Henderson Land both stumbled 1.56 percent, CITIC fell 0.54 percent, CNOOC declined 1.50 percent, CSPC Pharmaceutical and Hong Kong China Gas both gained 0.16 percent, Galaxy Entertainment rose 0.14 percent, Hang Lung Properties dropped 0.90 percent, JD.com surged 2.72 percent, Lenovo slumped 1.10 percent, Li Auto shed 0.71 percent, Meituan soared 2.21 percent, New World Development sank 0.73 percent, Nongfu Spring retreated 1.85 percent, Techtronic Industries advanced 0.79 percent, Xiaomi Corporation jumped 1.37 percent, WuXi Biologics tumbled 1.95 percent and Haier Smart Home, Li Ning and Industrial and Commercial Bank of China were unchanged.
The lead from Wall Street is murky as the major averages opened lower on Tuesday and largely hugged the line before ending mixed.
The Dow slumped 154.52 points or 0.36 percent to finish at 42,233.05, while the NASDAQ jumped 145.56 points or 0.78 percent to close at a record 18,712.75 and the SP 500 rose 9.40 points or 0.16 percent to end at 5,832.92.
The climb by the NASDAQ came ahead of the release of earnings news from big-name tech companies, including with Google parent Alphabet (GOOGL), Advanced Micro Devices (AMD), Meta Platforms (META), Microsoft (MSFT), Amazon (AMZN) and Apple (AAPL).
Semiconductor stocks showed a particularly strong move to the upside, driving the Philadelphia Semiconductor Index up by 2.3 percent.
In U.S. economic news, the Conference Board noted a substantial improvement by U.S. consumer confidence in October. Also, the Labor Department said job openings in the U.S. fell to 7.44 million in September from a downwardly revised 7.86 million in August.
Oil futures settled lower again on Tuesday amid concerns crude supplies will far exceed near term demand. West Texas Intermediate Crude oil futures for December ended down $0.17 or about 0.25 percent at $67.21 a barrel.
U.S. Job Openings Decrease To 7.44 Million In September
(RTTNews) - The Labor Department released a report on Tuesday showing a decrease by job openings in the U.S. in the month of September.
The report said job openings fell to 7.44 million in September from a downwardly revised 7.86 million in August.
Economists had expected job openings to edge down to 7.99 million from the 8.04 million originally reported for the previous month.
Hires changed little over the month at 5.6 million, while the number of total separations was unchanged at 5.2 million, the Labor Department.
Within separations, quits and layoffs and discharges were both little changed at 3.1 million and 1.8 million, respectively.
U.S. Consumer Confidence Improves Much More Than Expected In October
(RTTNews) - A report released by the Conference Board on Tuesday showed a substantial improvement by U.S. consumer confidence in the month of October.
The Conference Board said its consumer confidence index surged to 108.7 in October after tumbling to a revised 99.2 in September.
Economists had expected the consumer confidence index to inch up to 99.1 from the 98.7 originally reported for the previous month.
"Consumer confidence recorded the strongest monthly gain since March 2021, but still did not break free of the narrow range that has prevailed over the past two years," said Dana M. Peterson, Chief Economist at The Conference Board.
She added, "The proportion of consumers anticipating a recession over the next 12 months dropped to its lowest level since the question was first asked in July 2022, as did the percentage of consumers believing the economy was already in recession."
The Conference Board said the present situation index, which is based on consumers' assessment of current business and labor market conditions, spiked to 138.0 in October from 123.8 in September.
The expectations index, which is based on consumers' short-term outlook for income, business, and labor market conditions, also jumped to 89.1 in October from 82.8 in September, coming in well above the threshold of 80 that usually signals a recession ahead.
Last Friday, the University of Michigan released revised data showing consumer sentiment in the U.S. unexpectedly improved in the month of October.
The University of Michigan said its consumer sentiment index for October was upwardly revised to 70.5 from a preliminary reading of 68.9. Economists had expected the index to be upwardly revised slightly to 69.0.
With the bigger than expected upward revision, the consumer sentiment index is now modestly above the final September reading of 70.1.
The consumer sentiment index has now increased for the third consecutive month, reaching its highest level since hitting 77.2 in April.
Singapore Bourse May Be Stuck In Neutral On Wednesday
(RTTNews) - The Singapore stock market on Tuesday snapped the two-day losing streak in which it had slipped more than 20 points or 0.6 percent. The Straits Times Index now sits just above the 3,590-point plateau although it may spin its wheels on Wednesday.
The global forecast for the Asian markets offers little clarity, although technology shares may provide a slight boost. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The STI finished slightly higher on Tuesday following mixed performances from the financial shares, property stocks and industrial issues.
For the day, the index added 6.28 points or 0.18 percent to finish at the daily high of 3,590.36 after trading as low as 3,568.70.
Among the actives, CapitaLand Integrated Commercial Trust skidded 0.97 percent, while CapitaLand Investment slid 0.35 percent, City Developments fell 0.39 percent, DBS Group collected 0.54 percent, Emperador and Yangzijiang Shipbuilding both jumped 1.19 percent, Genting Singapore climbed 0.60 percent, Hongkong Land tumbled 1.52 percent, Keppel Ltd added 0.31 percent, Mapletree Pan Asia Commercial Trust dropped 0.75 percent, Mapletree Industrial Trust plunged 1.65 percent, Mapletree Logistics Trust retreated 1.47 percent, Oversea-Chinese Banking Corporation rallied 1.05 percent, SATS lost 0.51 percent, SembCorp Industries declined 1.34 percent, Singapore Technologies Engineering sank 0.64 percent, SingTel shed 0.62 percent, Wilmar International was down 0.31 percent, Yangzijiang Financial slumped 1.22 percent and Comfort DelGro, Frasers Centrepoint Trust, DFI Retail Group, Seatrium Limited, Keppel DC REIT and Thai Beverage were unchanged.
The lead from Wall Street is murky as the major averages opened lower on Tuesday and largely hugged the line before ending mixed.
The Dow slumped 154.52 points or 0.36 percent to finish at 42,233.05, while the NASDAQ jumped 145.56 points or 0.78 percent to close at a record 18,712.75 and the SP 500 rose 9.40 points or 0.16 percent to end at 5,832.92.
The climb by the NASDAQ came ahead of the release of earnings news from big-name tech companies, including with Google parent Alphabet (GOOGL), Advanced Micro Devices (AMD), Meta Platforms (META), Microsoft (MSFT), Amazon (AMZN) and Apple (AAPL).
Semiconductor stocks showed a particularly strong move to the upside, driving the Philadelphia Semiconductor Index up by 2.3 percent.
In U.S. economic news, the Conference Board noted a substantial improvement by U.S. consumer confidence in October. Also, the Labor Department said job openings in the U.S. fell to 7.44 million in September from a downwardly revised 7.86 million in August.
Oil futures settled lower again on Tuesday amid concerns crude supplies will far exceed near term demand. West Texas Intermediate Crude oil futures for December ended down $0.17 or about 0.25 percent at $67.21 a barrel.
Pound Advances Ahead Of Budget
(RTTNews) - The pound climbed against its major counterparts in the New York session on Tuesday ahead of the budget announcement due on Wednesday.
Analysts expect the Autumn Budget to introduce key fiscal reforms, including tax changes and wage adjustments that could significantly impact the industry landscape.
Google parent Alphabet is due to unveil its earnings later in the day, with investors keen to see how growth at its key search business is progressing during a time of rising competition.
Markets also keep a close eye on the upcoming Nov. 5 U.S. presidential election.
A Trump victory may be on the horizon, but most major polls currently show him locked in a tight race with Vice President Kamala Harris.
The CBI's monthly retail sales survey showed U.K. retail sales volumes slipped back slightly in October due to consumer caution ahead of this week's budget announcement by finance minister Rachel Reeves.
The pound firmed to a 1-week high of 1.3007 against the greenback and more than a 3-month high of 199.69 against the yen, off its early lows of 1.2957 and 198.04, respectively. The next possible resistance for the currency is seen around 1.32 against the greenback and 203.00 against the yen.
The pound moved up to near 2-week highs of 0.8298 against the euro and 1.1298 against the franc, from an early low of 0.8340 and a 5-day low of 1.1209, respectively. The currency is poised to challenge resistance around 0.82 against the euro and 1.14 against the franc.
Australia Inflation Adds 0.2% On Quarter In Q3
(RTTNews) - Consumer prices in Australia were up a seasonally adjusted 0.2 percent on quarter in the third quarter of 2024, the Australian Bureau of Statistics said on Wednesday.
That was shy of expectations for an increase of 0.3 percent and down from 1.0 percent in the previous three months.
On an annualized basis, inflation climbed 2.8 percent - exceeding forecasts for 2.3 percent and down from 3.8 percent in the second quarter.
The trimmed mean was up 0.8 percent on quarter and 3.5 percent on year, while the weighted mean was up 0.9 percent on quarter and 3.8 percent on year.
Tech Shares May Lift Taiwan Stock Market
(RTTNews) - The Taiwan stock market has moved lower in back-to-back sessions, stumbling almost 425 points or 2 percent along the way. The Taiwan Stock Exchange now rests just above the 22,925-point plateau although it's due for support on Wednesday.
The global forecast for the Asian markets offers little clarity, although technology shares may provide a slight boost. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The TSE finished sharply lower on Tuesday following losses from the financial shares, technology stocks and plastics companies.
For the day, the index dropped 271.48 points or 1.17 percent to finish at 22,926.59 after trading between 22,711.10 and 23,056.57.
Among the actives, Cathay Financial lost 1.15 percent, while Mega Financial shed 0.38 percent, CTBC Financial eased 0.14 percent, First Financial declined 0.91 percent, Fubon Financial dipped 0.33 percent, E Sun Financial sank 0.73 percent, Taiwan Semiconductor Manufacturing Company dropped 0.95 percent, United Microelectronics Corporation stumbled 1.73 percent, Hon Hai Precision plunged 2.56 percent, Largan Precision slumped 1.29 percent, Catcher Technology perked 0.21 percent, MediaTek tanked 2.62 percent, Delta Electronics rose 0.25 percent, Novatek Microelectronics surrendered 2.14 percent, Formosa Plastics tumbled 1.75 percent, Nan Ya Plastics skidded 1.06 percent and Asia Cement fell 0.32 percent.
The lead from Wall Street is murky as the major averages opened lower on Tuesday and largely hugged the line before ending mixed.
The Dow slumped 154.52 points or 0.36 percent to finish at 42,233.05, while the NASDAQ jumped 145.56 points or 0.78 percent to close at a record 18,712.75 and the SP 500 rose 9.40 points or 0.16 percent to end at 5,832.92.
The climb by the NASDAQ came ahead of the release of earnings news from big-name tech companies, including with Google parent Alphabet (GOOGL), Advanced Micro Devices (AMD), Meta Platforms (META), Microsoft (MSFT), Amazon (AMZN) and Apple (AAPL).
Semiconductor stocks showed a particularly strong move to the upside, driving the Philadelphia Semiconductor Index up by 2.3 percent.
In U.S. economic news, the Conference Board noted a substantial improvement by U.S. consumer confidence in October. Also, the Labor Department said job openings in the U.S. fell to 7.44 million in September from a downwardly revised 7.86 million in August.
Oil futures settled lower again on Tuesday amid concerns crude supplies will far exceed near term demand. West Texas Intermediate Crude oil futures for December ended down $0.17 or about 0.25 percent at $67.21 a barrel.
Australian Market Modestly Lower
(RTTNews) - Australian shares are trading modestly lower on Wednesday, giving up some of the gains in the previous three sessions, with the benchmark SP/ASX 200 staying above the 8,200 level, following the mixed cues from Wall Street overnight, with weakness in energy and financial stocks partially offset by gains in iron ore miners.
The benchmark SP/ASX 200 Index is losing 29.00 points or 0.35 percent to 8,220.20, after hitting a low of 8,218.00 and a high of 8,024.50 earlier. The broader All Ordinaries Index is down 23.70 points or 0.28 percent to 8,482.20. Australian stocks ended modestly higher on Tuesday.
Among major miners, Rio Tinto and Mineral Resources are rising almost 1 percent each, while Fortescue Metals is adding more than 1 percent and BHP Group is gaining 1.5 percent.
Oil stocks are mostly lower. Origin Energy and Woodside Energy are edging down 0.2 to 0.3 percent each, while Beach energy is losing more than 1 percent and Santos is down almost 1 percent.
In the tech space, Afterpay owner Block is losing more than 1 percent, Zip is declining almost 1 percent and Xero is edging down 0.1 percent, while Appen is surging almost 6 percent and WiseTech Global is edging up 0.4 percent.
Among the big four banks, Commonwealth Bank, National Australia Bank and ANZ Banking are losing almost 1 percent each, while Westpac is edging down 0.3 percent.
Among gold miners, Evolution Mining and Northern Star Resources are advancing more than 1 percent each, while Gold Road Resources is edging up 0.4 percent. Newmont is losing almost 2 percent and Resolute Mining is down almost 1 percent.
In economic news, consumer prices in Australia were up a seasonally adjusted 0.2 percent on quarter in the third quarter of 2024, the Australian Bureau of Statistics said on Wednesday. That was shy of expectations for an increase of 0.3 percent and down from 1.0 percent in the previous three months.
On an annualized basis, inflation climbed 2.8 percent - exceeding forecasts for 2.3 percent and down from 3.8 percent in the second quarter. The trimmed mean was up 0.8 percent on quarter and 3.5 percent on year, while the weighted mean was up 0.9 percent on quarter and 3.8 percent on year.
In the currency market, the Aussie dollar is trading at $0.656 on Wednesday.
On the Wall Street, stocks moved higher during trading on Monday but returned to the mixed performance seen to close out the previous week on Tuesday. While the tech-heavy Nasdaq showed a notable advance to reach a new record closing high, the Dow closed lower for the sixth time in the past seven sessions.
The Nasdaq climbed 145.56 points or 0.8 percent to 18,712.75, extending its winning streak to four days. The SP 500 also rose 9.40 points or 0.2 percent to 5,832.92, but the Dow fell 154.52 points or 0.4 percent to 42,233.05.
Meanwhile, the major European markets all moved to the downside on the day. While the U.K.'s FTSE 100 Index slid 0.8 percent, the French CAC 40 Index fell by 0.6 percent and the German DAX Index dipped by 0.3 percent.
Crude oil prices settled lower again on Tuesday amid concerns crude supplies will far exceed near term demand. West Texas Intermediate Crude oil futures for December ended down $0.17 or about 0.25 percent at $67.21 a barrel.
China Stock Market May Reverse Tuesday's Losses
(RTTNews) - The China stock market on Tuesday snapped the two-day winning streak in which it had climbed more than 40 points or 1.2 percent. The Shanghai Composite now sits just above the 3,285-point plateau although it may bounce higher again on Wednesday.
The global forecast for the Asian markets offers little clarity, although technology shares may provide a slight boost. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The SCI finished sharply lower on Tuesday following losses from the resource, energy and property sectors, while the financials came in mixed.
For the day, the index skidded 35.79 point or 1.08 percent to finish at 3,286.41 after trading between 3,284.21 and 3,340.46. The Shenzhen Composite Index declined 29.65 points or 1.48 percent to end at 1,972.93.
Among the actives, Industrial and Commercial Bank of China dipped 0.16 percent, while Bank of China collected 0.41 percent, China Merchants Bank rose 0.21 percent, Agricultural Bank of China added 0.63 percent, China Life Insurance perked 0.14 percent, Jiangxi Copper tanked 2.54 percent, Aluminum Corp of China (Chalco) surrendered 2.68 percent, Yankuang Energy stumbled 2.87 percent, PetroChina retreated 2.03 percent, China Petroleum and Chemical (Sinopec) plunged 3.26 percent, Huaneng Power tumbled 2.81 percent, China Shenhua Energy fell 0.29 percent, Gemdale slumped 1.95 percent, Poly Developments declined 2.66 percent, China Vanke lost 2.77 percent and China Construction Bank was unchanged.
The lead from Wall Street is murky as the major averages opened lower on Tuesday and largely hugged the line before ending mixed.
The Dow slumped 154.52 points or 0.36 percent to finish at 42,233.05, while the NASDAQ jumped 145.56 points or 0.78 percent to close at a record 18,712.75 and the SP 500 rose 9.40 points or 0.16 percent to end at 5,832.92.
The climb by the NASDAQ came ahead of the release of earnings news from big-name tech companies, including with Google parent Alphabet (GOOGL), Advanced Micro Devices (AMD), Meta Platforms (META), Microsoft (MSFT), Amazon (AMZN) and Apple (AAPL).
Semiconductor stocks showed a particularly strong move to the upside, driving the Philadelphia Semiconductor Index up by 2.3 percent.
In U.S. economic news, the Conference Board noted a substantial improvement by U.S. consumer confidence in October. Also, the Labor Department said job openings in the U.S. fell to 7.44 million in September from a downwardly revised 7.86 million in August.
Oil futures settled lower again on Tuesday amid concerns crude supplies will far exceed near term demand. West Texas Intermediate Crude oil futures for December ended down $0.17 or about 0.25 percent at $67.21 a barrel.
Sensex, Nifty Open Lower With Earnings In Focus
(RTTNews) - Indian shares opened on a sluggish note Wednesday as caution prevailed ahead of next week's U.S. presidential election and Federal Reserve rate decision.
The benchmark SP/BSE Sensex was down 260 points, or 0.3 percent, at 80,107 in early trade while the broader NSE Nifty index was down 62 points, or 0.3 percent, at 24,405.
Cipla plunged 4.2 percent after analysts highlighted near term challenges for the pharmaceutical giant.
Torrent Pharma tumbled 2.7 percent after a block deal.
Voltas slumped 6 percent despite posting stellar Q2 earnings.
Maruti Suzuki rallied 2.1 percent despite the company flagging falling demand for small cars.
Adani Enterprises jumped more than 3 percent after it posted a nearly eight-fold rise in net profit in the September quarter.
Marico soared 5.4 percent on reporting a 20 percent increase in consolidated net profit for the September quarter.
Indonesia Stock Market Due For Support On Wednesday
(RTTNews) - The Indonesia stock market has finished lower in five straight sessions, dropping almost 190 points or 2.5 percent along the way. The Jakarta Composite Index now rests just above the 7,600-point plateau although it may stop the bleeding on Wednesday.
The global forecast for the Asian markets offers little clarity, although technology shares may provide a slight boost. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The JCI finished modestly lower on Tuesday following losses from the cement and finance sectors, while the food stocks were up and the resource companies were mixed.
For the day, the index shed 28.03 points or 0.37 percent to finish at 7,606.60 after trading between 7,587.21 and 7,666.43.
Among the actives, Bank CIMB Niaga retreated 1.33 percent, while Bank Danamon Indonesia slumped 1.15 percent, Bank Negara Indonesia surrendered 3.64 percent, Bank Central Asia dropped 0.94 percent, Bank Rakyat Indonesia stumbled 1.26 percent, Indosat Ooredoo Hutchison surged 5.94 percent, Indocement fell 0.33 percent, Semen Indonesia sank 0.72 percent, Indofood Sukses Makmur added 0.66 percent, United Tractors tumbled 1.68 percent, Astra International tanked 2.38 percent, Energi Mega Persada spiked 3.62 percent, Astra Agro Lestari climbed 1.12 percent, Aneka Tambang rose 0.31 percent, Jasa Marga rallied 2.78 percent, Vale Indonesia shed 0.75 percent, Timah tumbled 1.88 percent and Bumi Resources, Bank Mandiri and Bank Maybank Indonesia were unchanged.
The lead from Wall Street is murky as the major averages opened lower on Tuesday and largely hugged the line before ending mixed.
The Dow slumped 154.52 points or 0.36 percent to finish at 42,233.05, while the NASDAQ jumped 145.56 points or 0.78 percent to close at a record 18,712.75 and the SP 500 rose 9.40 points or 0.16 percent to end at 5,832.92.
The climb by the NASDAQ came ahead of the release of earnings news from big-name tech companies, including with Google parent Alphabet (GOOGL), Advanced Micro Devices (AMD), Meta Platforms (META), Microsoft (MSFT), Amazon (AMZN) and Apple (AAPL).
Semiconductor stocks showed a particularly strong move to the upside, driving the Philadelphia Semiconductor Index up by 2.3 percent.
In U.S. economic news, the Conference Board noted a substantial improvement by U.S. consumer confidence in October. Also, the Labor Department said job openings in the U.S. fell to 7.44 million in September from a downwardly revised 7.86 million in August.
Oil futures settled lower again on Tuesday amid concerns crude supplies will far exceed near term demand. West Texas Intermediate Crude oil futures for December ended down $0.17 or about 0.25 percent at $67.21 a barrel.
DAX Edges Lower As Investors Watch Earnings
(RTTNews) - German stocks were slightly lower on Wednesday as investors awaited a raft of earnings and economic readings this week for directional cues.
Germany's unemployment rate remained unchanged in September, the labor force survey results from Destatis showed earlier today.
The unemployment rate came in at adjusted 3.5 percent, the same as in August. The number of unemployed declined 9,000 on month to 1.55 million.
The benchmark DAX was down 70 points, or 0.4 percent, at 19,408 after declining 0.3 percent in the previous session.
Automaker Volkswagen rallied 2 percent after backing its annual sales guidance.
Daimler Truck Holding fell 1.2 percent after an announcement that it is writing off some of its receivables in China.
BASF rose about 1 percent as the chemicals company reported slightly higher earnings in the third quarter.
Japanese Market Significantly Higher
(RTTNews) - The Japanese stock market is trading significantly higher on Wednesday, extending the gains in the previous two sessions, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving well above the 39,300 level, with gains across most sectors led by index heavyweights, financial and technology stocks.
The benchmark Nikkei 225 Index is up 440.20 or 1.13 percent at 39,343.88, after touching a high of 39,352.58 earlier. Japanese stocks ended notably higher on Tuesday.
Market heavyweight SoftBank Group is gaining more than 2 percent and Uniqlo operator Fast Retailing is flat. Among automakers, Honda is edging down 0.2 percent, while Toyota is gaining almost 1 percent.
In the tech space, Advantest is advancing almost 3 percent, Tokyo Electron is adding almost 1 percent and Screen Holdings are gaining more than 2 percent.
In the banking sector, Sumitomo Mitsui Financial and Mitsubishi UFJ Financial are edging up 0.5 percent each, while Mizuho Financial is flat.
Among the major exporters, Sony is gaining almost 2 percent and Panasonic is edging up 0.2 percent, while Mitsubishi Electric and Canon are adding almost 1 percent each.
Among other major gainers, Disco is skyrocketing almost 11 percent and Fujikura is surging more than 5 percent, while Lasertech, Keyence and Tokyo Electric Power are gaining more than 4 percent each. Furukawa Electric, Kansai Electric Power, Nikon, Renesas Electronics and SMC are adding more than 3 percent each, while Chubu Electric Power, Hoya, Toppan Holdings and Daiichi Sankyo are up almost 3 percent each.
Conversely, Hino Motors is plummeting more than 11 percent.
In the currency market, the U.S. dollar is trading in the lower 153 yen-range on Wednesday.
On the Wall Street, stocks moved higher during trading on Monday but returned to the mixed performance seen to close out the previous week on Tuesday. While the tech-heavy Nasdaq showed a notable advance to reach a new record closing high, the Dow closed lower for the sixth time in the past seven sessions.
The Nasdaq climbed 145.56 points or 0.8 percent to 18,712.75, extending its winning streak to four days. The SP 500 also rose 9.40 points or 0.2 percent to 5,832.92, but the Dow fell 154.52 points or 0.4 percent to 42,233.05.
Meanwhile, the major European markets all moved to the downside on the day. While the U.K.'s FTSE 100 Index slid 0.8 percent, the French CAC 40 Index fell by 0.6 percent and the German DAX Index dipped by 0.3 percent.
Crude oil prices settled lower again on Tuesday amid concerns crude supplies will far exceed near term demand. West Texas Intermediate Crude oil futures for December ended down $0.17 or about 0.25 percent at $67.21 a barrel.
