Sensex Rises 101 Points, Nifty Ends Above 10,200; PSU Banks Outperform

Indian equity benchmarks gained for second straight day led by gains in government owned banking shares. Zee Entertainment and Asian Paints also added to gains after they beat consensus analysts' estimates compiled by Bloomberg.

The S&P BSE Sensex rose 0.31 percent to 32,607 and the NSE Nifty 50 Index rose 0.22 percent to 10,238.

Fourteen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Power Index's 1.3 percent gain. On the other hand, the S&P BSE Information Technology Index was the top sectoral loser, down 0.8 percent.

Shares of the paint maker jumped as much as 4.57 percent, the most in over three months, to Rs 1,227.80 after it beat consensus analysts' estimates compiled by Bloomberg.

• Net profit rises 21 percent to Rs 576 crore against estimate of Rs 514 crore
• Q2 revenue rises 2.3 percent to Rs 4,274 crore versus estimate of Rs 4,273 crore
• Total costs at Rs 3,570 crore
• EBITDA jumps 13.5 percent to Rs 801 crore versus 705.6 crore (YoY)
• EBITDA margins at 18.8 percent versus 19 percent (YoY)
• Tax expenditure increased 21.6 percent to Rs 242 crore versus Rs 199 crore (YoY)
• Raw material cost fell 6 percent to Rs 2,004 crore versus Rs 2,134 crore (YoY)
• Decorative business in India registered high single digit volume growth
• Impact of GST continued through July and recovery of sorts was seen only in September

Shares of the liquor maker fell as much 2.2 percent to Rs 219.25 crore post September quarter earnings.

• Q2 net profit jumps 27 percent to Rs 28.6 crore from Rs 22.5 crore
• Income from operations rises 23 percent to Rs 1,490.89 crore from Rs 1,209.50 crore in the same period last year

• Fee income rose 24 percent (YoY)
• Cost to income ratio improved to 42.6 percent (YoY)
• First half net profit up 20.2 percent at Rs 8,044 crore
• Gross NPAs were more or less flat this quarter
• Received observations from RBI for an account under 5:25 framework
• Made contingent provisions for the 5:25 account
• Financial products in retail space have grown at a good pace
• Current account growth has come off since June
• CASA ratio lower from the peak also a function of current account related to IPOs
• Feel CASA ratio of above 40 percent is positive
• Increased funding from broad-based mix has led to 4.3 percent net interest margin

• Indian equity benchmarks were holding on to the gains
• The S&P BSE Sensex was up 0.28 percent at 32,596 and the NSE Nifty 50 Index held on to crucial psychological level of 10,200
• Nifty PSU Bank Index was the top sector gauge, up 4 percent and the Nifty Bank Index was up 0.7 percent

• From the Nifty 50 basket, 29 shares were trading higher while 21 were among the laggards
• Zee Entertainment was best among the Nifty 50 stocks on Q2 earnings beat, the stock rose as much as 9.3 percent, the most in over two years, to Rs 537.50
• Twelve out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Power Index's 1.4 percent gain

• Gammon Infra has 50 lakh shares change hands in a block deal
• BHEL has 56 lakh shares change hands in a block
• ITC has 27.6 lakh shares change hands in a block

Buyers and sellers were not immediately known

Source: Bloomberg

Shares of the Hyderabad-based renewable power equipment maker rose as much as 5 percent to Rs 60.40 after it reported September quarter earnings.

• Q2 net profit up 13.5 percent at Rs 10.92 crore versus Rs 9.62 crore (YoY)
• Revenue from operations rises 17 percent to Rs 442 crore from Rs 382.11 crore during the same period last year

Shares of the mortgage lender rose as much as 3.85 percent, the most since October 13, to Rs 558.55 after it beat consensus analysts’ earnings estimates compiled by Bloomberg in September quarter.

• Q2 net profit up 36 percent at Rs 75 crore versus estimate of Rs 75.10 crore
• Net revenue up 15 percent at Rs 384 crore versus estimate of Rs 311 crore

Shares of the carbon black maker were trading flat after the company reported its September quarter earnings.

• Net profit quadruples to Rs 50.78 crore from Rs 12.49 crore (YoY)
• Net sales up 17.4 percent at Rs 597 crore versus Rs 508.9 crore (YoY)
• Total costs at Rs 530 crore
• Other income at Rs 3.6 crore

Shares of the country's biggest lender by market value rose nearly 1 percent to Rs 1,879.60 after it reported stable asset quality and met consensus analysts’ estimates compiled by Bloomberg.

• Net profit at Rs 4,151 crore versus estimate of Rs 4,170 crore
• Net interest income at Rs 9,751.8 crore versus estimate of Rs 9,610 crore
• Gross non-performing assets as a percentage of total advances at 1.26 percent versus 1.24 percent in previous quarter
• Net non-performing assets at 0.43 percent versus 0.44 percent in previous quarter
• Loan growth at 22.3 percent
• Deposits at Rs 6.89 lakh crore as on September 30, up 16.5 percent (YoY)
• Advances at Rs 6.05 lakh crore as on September 30, up 22.3 percent (YoY)
• Current Account Savings Account (CASA) Ratio at 42.9 percent as on September 30
• Capital Adequacy Ratio at 15.1 percent as on September 30

Shares of the Punjab-based pharma company jumped as much as 16.2 percent, the most since October 9, to Rs 275.70, also its highest level in over nine years after the U.S. drug regulator approved Abbreviated New Drug Application (ANDA) for Prasugrel 5 mg and 10 mg tablets.

The drug is used for reduction of thrombotic cardiovascular events in people with acute coronary syndrome and the annual sale of Prasugrel prior to the entry of generics in the market was approximately $600 million in U.S., the company said in a press release.

Shares of the entertainment content producer jumped as much as 4.38 percent, the most in two months, to Rs 506.25 after it beat consensus analysts’ estimates compiled by Bloomberg.

• Net profit more than doubles to Rs 591 crore against estimate of Rs 321 crore
• Exceptional gain of Rs 135 crore adds to profit on sale of sports broadcast business
• Revenue at Rs 1,790 crore versus estimate of Rs 1,580 crore
• Advertising revenue up 2.9 percent at Rs 986.74 crore
• Subscription revenue down 14 percent at Rs 501.41 crore
• EBITDA margin at 31 percent against estimate of 30 percent
• EBITDA at Rs 476.3 crore versus estimate of Rs 475 crore

Shares of the road construction companies rose after the Union Cabinet approved Bharatmala phase-1 proposal, news channel CNBC TV18 reported citing sources.

• Dilip Buildcon rises as much as 1.9 percent to Rs 785
• NCC jumps as much as 8 percent to Rs 102.35
• HCC climbs 5.4 percent to Rs 35.40
• Ashoka Buildcon gains 4 percent to Rs 194.4
• IRB Infrastructure Developers advances as much as 3.3 percent to Rs 218.65
• PNC Infra up 11.25 percent at Rs 177.50
• Sadbhav Engineering rises 3.6 percent to Rs 287.90

Shares of the Secunderabad-based explosive maker rose as much as 11.5 percent, the most in over four months, to Rs 485 after it got nod for setting up manufacturing facility at Katepally village about 80 km from Hyderabad.

"The company would manufacture HMX, ammunition, solid propellants and warheads at this Greenfield project," Premier Explosives said in a stock exchange filing.

Shares of the Chennai-based IT services company jumped as much as 15 percent, the most in over 10 months, to Rs 428.90 after it won an IT contract from a British multinational banking and financial services (BFSI) company.

"Ramco will enable the BFSI major in consolidating its multi-country payroll on a unified platform and provide managed payroll services for its associates spread across 14 countries," the company said in a press release.

Shares of the entertainment content producer rose over a percent to Rs 496.60 ahead of the July-September quarter earnings which will be announced later in the day.

Shares of the country's biggest lender by market value were trading on a flat note ahead of September quarter earnings. The stock rose as much as 0.6 percent to Rs 1,875.

Here's what to expect from HDFC Bank In Q2:

• Net interest income is seen rising 20.2 percent to Rs 9,610 crore versus Rs 7,994 crore (YoY)
• Net Profit seen increasing 20.7 percent to Rs 4,171 crore from Rs Rs 3,455 crore during the same period last year
• Net interest margin seen unchanged at 4.4 percent sequentially
• Loan growth seen at 22 percent (YoY)
• Asset quality is expected to remain stable post agriculture loan slippages in Q1FY18, with gross non-performing assets at 1.24 percent.

Factors To Watch

• Performance in retail loan and agriculture loan portfolio
• Trends in digital banking and digital payments
• Overall banking sector growth outlook and economic recovery

Shares of the Pune-based auto component maker fell as much as 10 percent, the most in over a month, to Rs 80.30 after the company reported that its loss widened in July-September quarter.

• Revenue down 12.5 percent at Rs 70 crore versus Rs 80 crore (YoY)
• EBITDA loss of Rs 8.5 crore versus loss of Rs 1 crore
• Margins at negative 12.1 percent versus negative 1.3 percent
• Net loss widens to Rs 14 crore versus net loss of Rs 4 crore (YoY)

Shares of the Chennai-based hotel operator rose as much as 14.3 percent, the most since October 6, to Rs 42.25 after it turned profitable in the September quarter.

• Revenue up 8.7 percent at Rs 87 crore versus Rs 80 crore (YoY)
• EBITDA up 44 percent at Rs 13 crore versus Rs 9 crore (YoY)
• Margins at 14.9 percent versus 11.3 percent (YoY)
• Net profit at Rs 3 crore against net loss of Rs 1.4 crore (YoY)

• Cost control in the second quarter and inventory benefits led to margin expansion
• Going forward margins would come back to our old levels
• Consumer will take time to get adjusted to the new GST rates
• Non-billable transactions going up because of high GST rates
• We never expected that Llyod will negatively drive Havells margins
• Government's focus on LED lighting and lower GST rate on LED will help

Shares of the paint maker rose over a percent to Rs 1,189 ahead of its July-September quarter earnings.

Here's what to expect from Asian Paints In Q2:

• Consolidated revenues seen rising 13.5 percent to Rs 4,273 crore Rs 3763.5 crore
• EBITDA seen up 9.9 percent at Rs 783 crore versus Rs 712.5 crore
• EBITDA Margins seen at 18.3 percent versus 18.9 percent
• Net profit seen rising 3.8 percent to Rs 514 crore versus Rs 495 crore

Factors To Watch:

• Volumes to grow in mid to single digit
• Consumer demand yet to recover fully in Q2
• Price hikes taken earlier to aid topline growth
• Margins to remain muted on account of higher input cost
• Increase in the effective tax rate from 31.5 percent in the base quarter to 32.5-33.5 percent to impact PAT

Shares of the mortgage lender rose as much as 2.07 percent, the most since October 18, to Rs 1,365 after it beat consensus earnings estimates compiled by Bloomberg in September quarter post market hours on Monday.

• Net profit rose 25.8 percent to Rs 861 crore versus Bloomberg estimate of Rs 814 crore
• Net interest income increased 27.1 percent at Rs 1,390 crore (YoY)
• Gross non-performing assets dropped to 0.78 percent from 0.80 percent during the previous quarter
• Net non-performing assets stood unchanged at 0.31 percent

Brokerages on Indiabulls Housing Finance

Credit Suisse on Indiabulls Housing Finance

• Maintain Outperform; Hiked price target to Rs 1,600 from Rs 1,400
• Q2 results: Industry leading growth continues
• Indiabulls’ continues to offer value in light of strong growth in safe asset class segment

Macquarie on Indiabulls Housing Finance

• Downgrade to ‘Underperform’ from ‘Neutral’; Maintain price target at Rs 1,095
• Fundamentals intact but downgrade on lofty valuations; Switch to HDFC
• IHFL is aggressively grabbing market share; No impact from GST and RERA
• Company seems well-placed to achieve its target of two-times AUM

UBS on Indiabulls Housing Finance

• Maintain Neutral; Hiked price target to Rs 1,250 from Rs 1,150
• EPS beat in Q2 supported by strong mortgage growth
• Remain cautious on LAP and corporate loan growth due to higher competitions and RERA
• Expect margins to decline by 50-60 basis points in next 18-24 months as yields decline
• Raise loan book estimates by 2-3 percent and are reducing cost to income ratio
• EPS estimates are raised by 3 percent, 4 percent and 4 percent for FY18, FY19 and FY20 respectively

Indian equity benchmarks edged higher led by gains in Infosys, Tata Steel and Kotak Mahindra Bank. However, gains were capped as ICICI Bank and Sun Pharma were among the laggards.

The S&P BSE Sensex rose 0.21 percent to 32,573 and the NSE Nifty 50 Index advanced 0.13 percent to 10,198. The broader markets were also mirroring the benchmarks as the S&P BSE MidCap Index rose 0.2 percent and the S&P BSE SmallCap Index was up 0.3 percent.

Fifteen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Basic Materials Index's 0.6 percent gain. On the other hand, the S&P BSE Energy Index was the top sectoral loser down 0.3 percent.

After the Indian rupee ended steady against the dollar in Monday's session, it is seen opening higher today as the greenback consolidated after a recent rally, with traders awaiting policy reviews from key central banks this week.

Bonds on the other hand are seen under pressure even today as this week is a supply heavy week with state bonds, T-bill and government bond auction as well as Rs 10,000 crore open market operations (OMO) sale. Yield on benchmark 10-year note rose 4 basis points to 6.8 percent in Monday’s session. That's the biggest gain since October 4 and Kotak Mahindra Bank expects 10-year yield to trade in the range of 6.76-6.83 percent through the week.

Today, RBI will auction Rs 12,000 crore of debt for 13 Indian states. Overseas investors like Aberdeen and Nomura have started to buy state bonds as limits for India’s high-yielding sovereign debt has almost been used up.

• Nifty October Futures closed with a premium of 4.7 points at 10,189.7

• Nifty rollover at 17 percent while Bank Nifty rollover 16 percent
• India VIX closed 0.5 percent lower at 12.3
• October series highest Call base at 10,200 (open interest at 43.7 lakh, down 6 percent)
• October series highest Put base at 10,000 (open interest at 69.7 lakh, down 7 percent)
• October Call strikes 10,200 saws unwinding & 10,150 & 10,250 saw open interest addition
• October Put strikes 10,000, 10,150 saw open interest addition

• HDFC Bank
• Infosys
• Zee Entertainment
• Ambuja Cements
• Asian Paints

Other Earnings To Watch

• ABB India
• Can Fin Homes
• ICICI Prudential Life Insurance Company
• Mahindra CIE Automotive
• Rallis India
• Raymond
• Chambal Fertilizers & Chemicals
• GHCL
• IMFA
• International Paper
• Phillips Carbon Black
• Radico Khaitan
• Saregama India
• TTK Prestige

Indiabulls Housing Finance Q2

• Net interest income up 27.1 percent at Rs 1,389 crore versus Rs 1,093 crore (YoY)
• Net profit up 25.8 percent at Rs 861 crore versus Rs 684 crore (YoY)
• Gross non-performing assets at 0.78 percent versus 0.80 percent (QoQ)
• Net non-performing assets unchanged at 0.31 percent (QoQ)

Oriental Hotels Q2

• Revenue up 8.7 percent at Rs 87 crore versus Rs 80 crore (YoY)
• EBITDA up 44 percent at Rs 13 crore versus Rs 9 crore (YoY)
• Margins at 14.9 percent versus 11.3 percent (YoY)
• Net profit at Rs 3 crore against net loss of Rs 1.4 crore (YoY)

Automotive Stampings Q2

• Revenue down 12.5 percent at Rs 70 crore versus Rs 80 crore (YoY)
• EBITDA loss of Rs 8.5 crore versus loss of Rs 1 crore
• Margins at negative 12.1 percent versus negative 1.3 percent
• Net loss widens to Rs 14 crore versus net loss of Rs 4 crore (YoY)

• General Insurance Corporation to get listed on October 25
• Mahindra Logistics sets IPO price band between Rs 425 and 429 per share

• Vishal Fabrics ex-date for stock split from Rs 10 to Rs 5 each
• Siyaram Silk Mills last trading day before stock split from Rs 10 to Rs 2 per share
• Circuit filter revised to 10 percent for Ferro Alloys, GNFC, Shiva Cements, Pondy Oxides and Balasore Alloys
• Circuit filter for Viji Finance revised to 5 percent

Sunteck Realty

• Fidelity Emerging Markets Fund bought 30.11 lakh shares (2.4 percent equity) at Rs 321.6 apiece
• Shri Gopikrishna Trust sold 14.73 lakh shares (1.2 percent equity) at Rs 321.6 apiece

S Chand And Company

• HDFC MF bought 2.96 lakh shares (0.9 percent equity) at Rs 455 apiece

IOL Chemicals and Pharma

• Indiastar (Mauritius) Ltd sold 11 lakh shares (2 percent equity) at Rs 60.22 apiece

Wimplast

• Ghisulal Rathod bought 1.01 lakh shares (0.8 percent equity) at Rs 1,300 apiece

Mold-Tek Technologies

• N G Industries bought 3.06 lakh shares (1.1 percent equity) at Rs 53.5 apiece
• UNO Metals sold 3.06 lakh shares (1.1 percent equity) at Rs 53.5 apiece

Viceroy Hotels

• Canara Bank Securities sold 2.8 lakh shares (0.7 percent equity) at Rs 17.25 apiece

Amarjothi Spinning Mills

• Care Portfolio Managers sold 37,970 shares (0.6 percent equity) at Rs 220.94 apiece

PG Electroplast

• Satpal Khattar buys 1.65 lakh shares (1 percent equity) at Rs 396 apiece

CLSA on Indiabulls Housing Finance

• Maintain Buy with price target of Rs 1,200
• Q2FY18 results were tad ahead of our estimates
• Expect earnings to grow at CAGR of 25 percent over FY17-20
• Rating upgrade and expansion into new markets to aid growth

Credit Suisse on Indiabulls Housing Finance

• Maintain Outperform; Hiked price target to Rs 1,600 from Rs 1,400
• Q2 results: Industry leading growth continues
• Indiabulls’ continues to offer value in light of strong growth in safe asset class segment

Macquarie on Indiabulls Housing Finance

• Downgrade to ‘Underperform’ from ‘Neutral’; Maintain price target at Rs 1,095
• Fundamentals intact but downgrade on lofty valuations; Switch to HDFC
• IHFL is aggressively grabbing market share; No impact from GST and RERA
• Company seems well-placed to achieve its target of two-times AUM

UBS on Indiabulls Housing Finance

• Maintain Neutral; Hiked price target to Rs 1,250 from Rs 1,150
• EPS beat in Q2 supported by strong mortgage growth
• Remain cautious on LAP and corporate loan growth due to higher competitions and RERA
• Expect margins to decline by 50-60 basis points in next 18-24 months as yields decline
• Raise loan book estimates by 2-3 percent and are reducing cost to income ratio
• EPS estimates are raised by 3 percent, 4 percent and 4 percent for FY18, FY19 and FY20 respectively

CLSA on Havells India

• Maintain Sell; Hiked price target to Rs 525 from Rs 470
• Havells to focus on improving margins in Lloyds business with an integration exercise underway
• Like Havells’ growth story, but believe this is well captured in valuations
• Expect EPS to grow at CAGR of 25 percent over FY17-19
• Crompton Consumer remains our preferred pick in the consumer durables space

Credit Suisse on Havells India

• Maintain Neutral; Hiked price target to Rs 550 from Rs 535
• Exceptional high cable margins and cut in ad spends drive earnings in Q2
• Overall demand conditions challenging in both retail and institutional channels
• Lloyd growth softer than expected; Cost control drives margins
• Cut EPS estimates by 6 percent, 4 percent and 3 percent for FY18, FY19 and FY20 respectively

UBS on Havells India

• Maintain Sell with price target of Rs 375
• Margins were aided by switchgear segment, better product-mix and lower ad spends
• Restocking post GST remains muted reflecting weak demand; Unsure of margins sustaining
• Sell rating as too much optimism is priced into the stock price
• Expect EPS to grow at CAGR of 15 percent over FY17-19

Citi on Havells India

• Maintain Neutral with price target of Rs 575
• Havells' core and Lloyd Consumer's growth were sluggish despite positive benefits of GST restocking and festive season
• Havells remains a quality business but demand environment remains sluggish and competitive intensity remains high
• Expect EPS to grow at CAGR of 20 percent over FY17-19

Macquarie on Hindustan Zinc

• Maintain Outperform; Hiked price target to Rs 329 from Rs 300
• Q2 results in-line; Strong commodity prices offsetting cost inflation
• Increase estimates for zinc volumes by 4 percent and 8 percent for FY19 and FY20 respectively on impressive progress on mine development
• Hike EPS estimates by 4 percent, 7 percent and 13 percent for FY18, FY19 and FY20 respectively
• Positives: strong fundamentals, volume growth visibility and 7–8 percent dividend yield for FY18 and FY19

Citi on Hindustan Zinc

• Maintain Neutral with price target of Rs 300
• Q2 results in-line with estimates
• Upside largely from dividend; Expect dividend of Rs 20/share for FY18
• Does not expect significant upside to spot Zinc prices

Macquarie Initiates on Indian Pharma

• Companies to remain exposed to elevated U.S. pricing erosion
• Margin pressure to increase on higher R&D spends
• Sceptical on upside from specialty drugs at least for the next 18-24 months
• Expect India sales recovery to 10-13 percent YoY in FY19 and FY20
• Underperform rating on Sun Pharma and Cadila Healthcare; Top picks are Jubilant Life, Strides and Glenmark
• Sun Pharma: Underperform with price target of Rs 440
• Lupin: Neutral with price target of Rs 1,022
• Dr. Reddy’s: Neutral with price target of Rs 2,500
• Cipla: Neutral with price target of Rs 632
• Cadila: Underperform with price target of Rs 415
• Glenmark Pharma: Outperform with price target of Rs 728

• Jubilant Life: Outperform with price target of Rs 900
• Strides Shasun: Outperform with price target of Rs 1,100

• Reliance Communications to merge wireless business of Sistema Shyam with self
• IndusInd Bank launches M-wallet with MobiKwik
• Cochin Shipyard forms JV with Hooghly Dock & Port Engineers
• SEBI disposes adjudication proceedings against Prannoy Roy
• IVRCL Infra lenders decide to exit from corporate debt restructuring mechanism
• Kaya to invest Rs 51 crore in Singapore based subsidiary KME Holdings
• State Bank of India and Escorts Limited sign MoU for financing tractors
• Tourism ministry to talk to finance ministry over high GST on 5-star hotels (Bloomberg)

For a complete list of stocks to watch, click here

• Rajasthan government tables controversial bill, move challenged in High Court
• Exclusive: Five metal giants express interest in Essar Steel
• Centre names former IB director as representative for Kashmir talks
• Bharat-22 ETF likely to be launched in November
• Reliance Nippon AMC sees Rs 15,000 crore demand from anchor investors
• JP Associates seeks to sell Yamuna Expressway to compensate homebuyers
• Government asks banks to use own funds for loan waiver, assures reimbursement later
• Ex Flipkart executive Nitin Seth joins data analytics firm Incedo as CEO
• RCom-Sistema Shyam merger gets telecom department’s approval
• Why Tesla can’t set up charging stations in India, yet
• Miles to go... for director independence
• RBI forms task force to find better ways to track credit quality
• Trump says he is ‘very, very close’ to naming new Fed Chair
• Tesla deploying safety features fastest in race to autonomy
• Game makers tap AI to profile each player - and keep them hooked

Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.1 percent to 10,190.

Asian equities were mostly up as investors shrugged off Monday’s declines in the U.S., where a gauge of equity volatility climbed as market participants assessed the recent rally in global stocks before a slew of earnings reports.

These are some of the key events coming up:

• Market focus on Thursday’s ECB meeting is intensifying. The ECB is expected to offer more insight into its plans for tapering the QE program that is currently set to continue until the end of 2017. Expectations center on a nine-month extension of the program at perhaps half the current monthly pace of 60 billion euros. ECB officials have acknowledged that stimulus is still required to nurture inflation and that interest rates will remain “at or below” current levels for the foreseeable future
• The U.S. economy probably expanded at about a 2.5 percent annualized pace in the third quarter, restrained in part by the effects of two hurricanes, economists forecast the government to report on Friday.
• Among other U.S. data this week, orders for big-ticket durable goods probably increased in a sign of firmer manufacturing growth.
• Australia updates on third-quarter inflation on Wednesday, while South Korea reports on GDP and Hong Kong on imports and exports. Japan reports on CPI later in the week.
• Companies reporting earnings this week include Alphabet Inc., Microsoft Corp. and Twitter Inc. in the technology sector. Ford Motor Co., Volkswagen AG and Boeing Co. headline cars and planes. Fast food giant McDonald’s Corp., Coca-Cola Co. and brewer Heineken NV join European banks including UBS Group AG, Deutsche Bank AG and Barclays Plc.

Commodities

• Gold traded at $1,283.16 an ounce.
• West Texas Intermediate crude was little changed at $51.93 a barrel.