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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Alphabet Inc.    GOOGL

ALPHABET INC.

(GOOGL)
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Shares falter again, but Asia poised to end October with near 4% gain

10/30/2020 | 12:30am EST

(Adds European futures, updates prices throughout)

* MSCI ex-Japan down for third day in a row

* MSCI ex-Japan set for 1st weekly loss since late-Sept

* Eyes on U.S. presidential election, rising COVID cases

SYDNEY, Oct 30 (Reuters) - A gauge of Asian shares fell for a third straight session on Friday as jitters over next week's U.S. presidential election and a shaky global economic outlook enveloped markets.

E-Mini futures for S&P500 skidded 1.5%, a signal Wall Street would open in the red later in the day.

In early European trade, the pan-region Euro Stoxx 50 futures were down 0.4%, German DAX futures slipped 0.3% while London's FTSE futures were a shade weaker.

MSCI's broadest index of Asia-Pacific shares outside of Japan was last down 0.1%, on track to the end the week 1.1% lower after four straight weeks of gains.

Still, the index has risen 3.8% in October so far, and analysts expect this broader outperformance to extend further.

"For a crisis of this scale, Asian equities have performed remarkably well," Citi analysts wrote in a note.

"Within the region, markets with a higher weighting of technology stocks or where the recovery has become more entrenched have outperformed," they added.

"This solid performance can continue, in our view. Valuations are reasonable for an early stage of a recovery while liquidity is generous. There has also been a perceptible drop in volatility in recent months."

The mood on Friday was less positive, though.

Australia's ASX 200 fell 0.5% and New Zealand's benchmark index faltered nearly 1%. Japan's Nikkei slipped 0.85% and was set for its biggest weekly loss in more than two months.

Chinese shares, which had started marginally higher, eased too with the blue-chip index off 0.1%.

Record numbers of coronavirus cases worldwide and the Nov. 3 U.S. presidential election remained the major focus for investors. On Wednesday, global coronavirus cases rose by over 500,000 for the first time, with France and Germany prepping fresh lockdowns.

The falls in Asia occurred despite a solid session on Wall Street overnight, which was helped by a diet of strong quarterly reports from tech giants and data showing the U.S. economy grew at a record annualised pace of 33.1% in the third quarter.

"Even with the rebound, U.S. output remains 3.5% below its pre-COVID levels. The path towards recovery is much less clear from here, especially as the number of virus cases grows and there are near-term impediments to a fiscal deal," wrote ANZ analysts in a note.

The European Central Bank committed to further action in December to further lend economic support as European nations grappled with a renewed coronavirus outbreak.

Analysts expect an expansion and extension of the ECB's Pandemic Emergency Purchase Programme, a lower deposit facility rate, and even more generous lending terms for banks in December.

The announcement sent the euro sliding to a four-week low of $0.1648 to be last at $1.1679.

The dollar was weaker against the Japanese yen at 104.34 while the risk-sensitive Australian dollar rose 0.2% to $0.7043.

In commodities, oil picked up after hitting a five-month low on Thursday, with Brent crude futures up 15 cents at $37.80 a barrel and U.S. crude adding 5 cents at $36.22.

Gold rose, with spot prices climbing 0.4% to $1,874.06 an ounce.

(Reporting by Swati Pandey in Sydney and Pete Schroeder in New York; Editing by Tom Brown, Gerry Doyle and Kim Coghill)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.11% 1823.76 Delayed Quote.36.16%
AMAZON.COM, INC. -0.76% 3162.58 Delayed Quote.71.15%
APPLE INC. -0.56% 122.25 Delayed Quote.67.46%
ASX LIMITED -0.38% 77.64 End-of-day quote.-0.98%
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) -0.92% 0.94797 Delayed Quote.5.11%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) 0.15% 77.32 Delayed Quote.1.28%
AUSTRALIAN DOLLAR / NEW ZEALAND DOLLAR (AUD/NZD) 0.13% 1.05292 Delayed Quote.0.80%
AUSTRALIAN DOLLAR / SWISS FRANC (AUD/CHF) -0.11% 0.66166 Delayed Quote.-2.30%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.20% 0.7421 Delayed Quote.6.01%
BRITISH POUND / AUSTRALIAN DOLLAR (GBP/AUD) 0.08% 1.81023 Delayed Quote.-4.31%
DAX 0.35% 13298.96 Delayed Quote.0.38%
DJ INDUSTRIAL 0.83% 30218.26 Delayed Quote.5.01%
EURO / AUSTRALIAN DOLLAR (EUR/AUD) -0.05% 1.63231 Delayed Quote.2.22%
FACEBOOK INC -0.76% 279.7 Delayed Quote.36.27%
LONDON BRENT OIL 0.51% 49.04 Delayed Quote.-26.08%
NASDAQ 100 0.49% 12528.482731 Delayed Quote.43.46%
NASDAQ COMP. 0.70% 12464.232074 Delayed Quote.37.94%
NIKKEI 225 -0.22% 26751.24 Real-time Quote.13.08%
S&P 500 0.88% 3699.12 Delayed Quote.14.50%
S&P/ASX 200 0.28% 6634.1 Real-time Quote.-0.75%
WTI 0.97% 46.11 Delayed Quote.-25.53%
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Financials (USD)
Sales 2020 179 B - -
Net income 2020 35 705 M - -
Net cash 2020 118 B - -
P/E ratio 2020 35,8x
Yield 2020 -
Capitalization 1 235 B 1 235 B -
EV / Sales 2020 6,25x
EV / Sales 2021 5,12x
Nbr of Employees 132 121
Free-Float 90,3%
Chart ALPHABET INC.
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Technical analysis trends ALPHABET INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 47
Average target price 1 891,30 $
Last Close Price 1 823,76 $
Spread / Highest target 23,4%
Spread / Average Target 3,70%
Spread / Lowest Target -32,2%
EPS Revisions
Managers
NameTitle
Sundar Pichai Chief Executive Officer & Director
John LeRoy Hennessy Chairman
Ruth M. Porat Chief Financial Officer & Senior Vice President
Lawrence E. Page Director
Sergey Mikhaylovich Brin Director
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