European Markets
European stocks snapped a three-session losing streak as solid earnings from Novartis, a rebound by bank stocks and advances by technology companies helped the region's indexes recover some of Monday's steep declines. The Stoxx Europe 600 index rose 0.8% to 264.28, a day after slumping 1.8% as worries about the financial health of some euro-zone governments and disappointment over Europe's bank stress tests hammered stocks. Even so, it was the index's fifth-lowest close of the year. In London, the FTSE 100 rose 0.6% to 5789.99. Lloyds Banking Group rallied 4.3% as bank stocks took a break from two weeks of selling. Lloyds has skidded 7.5% on Monday. Johnson Matthey, whose main business is making vehicle catalysts, climbed 4% after reporting a 19% rise in underlying pretax profit for the fiscal first quarter and saying that its first-half results should be "significantly ahead" of a year earlier. In Frankfurt, the DAX increased 1.2% to 7192.67, lifted by chip maker Infineon Technologies, which surged 4.8%. European technology stocks were lifted by earnings from International Business Machines that bested forecasts. In Paris, the CAC-40 gained 1.2% to 3694.95. Telecommunications-gear maker Alcatel-Lucent was the index's biggest advancer, rallying 5.9%. Novartis rallied 3.2% in Zurich as growth from recently launched products helped the Swiss pharmaceuticals company report a 27% jump in second-quarter sales. Electrolux slumped 15% in Stockholm after its second-quarter results fell short of expectations because of rising raw-materials prices and lower demand.
Asian Markets on July 25, 2011
US Markets on July 25 2011
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US Markets on July 25 2011
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