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BP shares rose 1.7 per cent after the oil major’s profit

Strong earnings have helped push shares higher across the globe this year.
Investors were looking ahead to earnings from Apple , whose shares – along with those of other major tech companies – hit record highs on Monday.
BP shares rose 1.7 per cent after the oil major’s first-quarter profit tripled.
Forecast-beating company earnings and signs of underlying economic strength pushed European shares higher on Tuesday while tech stocks lifted Asian stocks to two-year highs as investors shrugged off sub-par Chinese factory activity data.
The dollar index, which measures the greenback against a basket of major currencies, held steady.

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Europe shares steady; dollar down on Comey sacking

Europe shares

(SOUNDBITE) (English) PANMURE GORDON CHIEF ECONOMIST, SIMON FRENCH, SAYING: “Markets really are concerned about the Trump administration’s ability to pass through tax reform and regulatory repeal.
Whilst Washington was in need of a new FBI director – after the summary sacking of James Comey.
(SOUNDBITE) (English) PANMURE GORDON CHIEF ECONOMIST, SIMON FRENCH, SAYING: “A lot of the advantages of having a new leader in South Korea was already in the price in South Korean equities.
Donald Trump’s shock move sending the dollar down 0.6 per cent against the yen – initially.
(SOUNDBITE) (English) PANMURE GORDON CHIEF ECONOMIST, SIMON FRENCH, SAYING: “Investors will take, and have taken, some support from that and looking forward to the rest of the year and whether banks have turned a corner.”

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Europe shares

Wall Street was poised to open higher, with Dow futures edging up 0.1 percent to 20,919.00 and broader S&P 500 futures gaining 0.2 percent to 2,387.40.
The Fed’s remarks provided further support for another Fed interest rate rise, widely expected for June.
Asian stock markets slip while dollar holds ground after Fed’s latest statement while European shares open higher on upbeat economic reportThe Associated Press A woman walks past an electronic board displaying Shenzhen trading stock prices at a brokerage house in Beijing, Thursday, May 4, 2017.
Most Asian stock markets slipped Thursday after a lackluster day on Wall Street as the Fed used its latest assessment of the U.S. economy to signal that more interest rate increases are coming.
(AP Photo/Lee Jin-man)HONG KONG (AP) — Asian stock markets slipped and the dollar held its ground Thursday after the Fed’s latest assessment of the U.S. economy reinforced expectations for more interest rate increases later this year.

 

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