Henk Potts News
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The combination of this month’s retreat in global equities and gains by U.S. consumer stocks has made American companies the five biggest in the world for the first time in eight years.
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U.K. stocks closed little changed, erasing an earlier rally, as mining companies declined with metal prices and a report showed sales of previously owned U.S. houses unexpectedly dropped in March.
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U.S. stocks and commodities climbed, with oil posting its biggest gain of the year, after bigger-than-forecast increases in American durable-goods orders and home prices bolstered optimism in the world’s largest economy. Treasuries erased earlier losses.
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European stocks climbed to their highest level in 11 weeks as signs of stronger growth in China and Japan outweighed a selloff in Greek lenders after a meeting of euro-area leaders discussed the region’s debt crisis.
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European stocks posted a weekly gain, rising to a 23-month high, as German investor confidence climbed to the highest in 2 1/2 years and U.S. lawmakers voted to temporarily suspend the government’s borrowing limit.
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Apple Inc.’s market value is about to overtake that of almost 500 public companies in Spain, Greece and Portugal combined, which together make less profit than the maker of iPhones.
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European stocks climbed to a one- week high as euro-area finance ministers met for the first time this year to address the region’s debt crisis. U.S. index futures advanced.
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UBS AG , Switzerland’s biggest bank, and Deutsche Bank AG, Germany’s largest, reported second-quarter profits that surpassed analysts’ estimates, driving European financial shares higher.
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Profits at European companies are trailing analyst estimates by the most in at least five years, dragged down by manufacturing shares that had been forecast to lead a rally in the second half of the year.
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European stocks rose, erasing an earlier decline, as companies from Deutsche Telekom AG to Repsol YPF SA posted better-than-estimated quarterly profit.
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