News / 

Markets gain...Healthy economic reports...Earnings reports



Estimated read time: 2-3 minutes

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

HONG KONG (AP) — International stock markets advanced Tuesday as investors studied a fresh round of corporate earnings reports and data releases for signs the global economy is on the right track. Futures point to opening gains on Wall Street. The dollar gained against the yen and the euro. Benchmark U.S. crude oil rose and is above $50 a barrel.

UNDATED (AP) — Europe's economic expansion kept on rolling and even picked up a little speed in the second quarter. The economy in the 19 countries that use the euro currency expanded by 0.6 percent compared to the quarter before and by 2.1 percent compared to a year earlier. Meanwhile, German authorities say the country's unemployment rate ticked up to 5.6 percent last month in a typical seasonal increase at the start of the summer holiday, but the underlying trend remains.

LONDON (AP) — Oil producer BP's second-quarter earnings slipped 5 percent as the Deepwater Horizon disaster continued to weigh on the company. A key measure of earnings, called underlying replacement cost profit, fell to $684 million from $720 million in the same period last year. The figure, which excludes one-time items and fluctuations in the value of inventories, is the industry's preferred gauge of earnings.

TOKYO (AP) — Sony's fiscal first quarter profit nearly quadrupled from a year earlier, boosted by its lucrative image sensor and other businesses and highlighting a gradual recovery at the Japanese electronics and entertainment company. Sony Corp. reports an 80.9 billion yen ($735 million) April-June profit, up dramatically from 21.2 billion yen the same period a year ago. Quarterly sales gained 15 percent to 1.86 trillion yen ($16.9 billion).

TOKYO (AP) — Improved sales and cost cuts helped Japanese automaker Honda Motor Co. shrug off lingering troubles from the Takata air bag recalls to log a nearly 19 percent improvement in its fiscal first quarter profit. Tokyo-based Honda, which makes the Fit subcompact, Accord sedan and Asimo robot, on reports a 207.3 billion yen ($1.9 billion) profit for April-June, up from 174.6 billion yen the same period last year. Quarterly sales rose 7 percent to 3.71 trillion yen ($33.8 billion).

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast