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Jul 19, 2017

Asia, Europe and U.S. Stock Markets' Closing Reports on July 19, 2017: MarketWatch | Markets


Carla Mozee, Victor Reklaitis

European stocks finished with solid gains Wednesday, carried by well-received corporate earnings reports including from Swedish appliance maker Electrolux AB, while a more than $4 billion deal drew Reckitt Benckiser Group PLC shares higher .
The Stoxx Europe 600 SXXP, +0.77% rose 0.8% to end at 385.54, erasing most of the prior day’s drop. The benchmark on Tuesday slid 1.1%, its worst session since June 29, after the euro marched up to a 14-month high.
Earnings wave: Attention on Wednesday swung to financial results. Electrolux ELUXB, +3.01% sprang up 3%. The maker of washing machines, refrigerators and other white goods raised its growth forecast for the North American market after solid demand from the region helped lift second-quarter net profit by 21%.
Shares of ASML Holding NV ASML, +5.79% ASML, +5.15%  leapt 5.8% as the Dutch semiconductor company said second-quarter net income rose 3% from the previous quarter, and that it’s resuming its share buyback program.
Tele2 AB shares TEL2B, +6.46%  picked up 6.5% after the Swedish telecom operator raised forecast for EBITDA to a range of 6.2 billion kronor and 6.5 billion kronor. It previously expected 5.9 billion kronor and 6.5 billion kronor.
But decliners included Volvo AB VOLVB, -3.44% as shares fell 3.4% even as the truck maker said truck orders jumped 22% in the second quarter, and that it’s seen continued recovery in its construction-equipment unit.
Assa Abloy AB ASSAB, -5.49%  also lost ground, with shares of the lock maker dropping 5.5%. “Sales in China fell once again, and disappointingly they also continued to decrease in Brazil and in the Middle East,” said Chief Executive Johan Molin in statement, adding that sales in North America are developing well. Second-quarter sales climbed 8%.
In other developments, Reckitt Benckiser RB., +1.60% bulked up by 1.6% as the consumer products maker reached a deal to sell its food division for $4.2 billion to U.S. spice seller McCormick & Co. MKC, -5.22%  . McCormick plans to integrate the RB Foods business — which includes French’s mustard and Frank’s RedHot hot sauce — into its commercial and industrial segments.
Dutch paint producer Akzo Nobel NV AKZA, +0.26%  said its chief executive, Ton Büchner, has resigned for health reasons. The unexpected move, however, shouldn’t slow its plan to spin off its chemicals business. Shares finished 0.3% higher.
Euro: The euro EURUSD, +0.1042% fetched $1.1514, down from $1.1555 late Tuesday in New York. The euro on Tuesday leapt to a 14-month high above $1.15 as the dollar DXY, -0.05%  slid. On Thursday, the European Central Bank will release its latest policy decision.
ECB policy maker Francois Villeroy de Galhau on Wednesday said in France that loose monetary policy is still needed for the eurozone economy although the central bank has helped push inflation toward its 2% target.
Indexes: The exporter-heavy DAX 30 index DAX, +0.17%  was 0.2% lower at 12,452.05. The index on Tuesday dropped 1.3%, hurt in part as the euro climbed.
France’s CAC 40 index PX1, +0.83%  rose 0.8% to end at 5,216.07, and the U.K.’s FTSE 100 UKX, +0.55%  was 0.6% higher at 7,430.91.



Mark DeCambre

U.S. stock-market indexes closed firmly higher Wednesday, with all of the main equity benchmarks notching records, as buying appetite resumed on Wall Street. The Dow Jones Industrial Average closed up 0.3% higher at 21,640, as big gains in shares of Boeing Co. BA, +1.27% and UnitedHealth Group Inc. UNH, +1.25% --bouncing back from Tuesday's selling--helped to more than offset a 4.2% tumble in shares of International Business Machines Corp. IBM, -4.20% which disappointed investors in second-quarter sales. IBM cut about 40 points from the price-weighted Dow, but the gauge still managed to finish squarely in the session green. The S&P 500 index SPX, +0.54% rose 0.5% at 2,473, booking its own record, as did the Nasdaq Composite Index COMP, +0.64% which ended up 0.6% at 6,385. Small-capitalization stocks also joined the party, with the Russell 1000 RUI, +0.57% and 2000 RUT, +0.99% ending at all-time highs. Market sentiment was aided partially by an early climb in shares of Morgan Stanley MS, +3.28% up 3.3%, after it reported earnings and revenue that topped expectations and bucked the trend of banks' shares sliding after releasing quarterly results. The investment bank run by CEO James Gorman helped to bolster investors' outlook for the remainder of earnings season, which thus far has helped to revive investor bullishness.
Read the full story: Stock-market benchmarks ring up records as Morgan Stanley fosters buying spirits

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