EUROPE: European stocks rise for first week since May
European stocks had their first weekly gain since May after US banks including Citigroup Inc reported earnings that beat estimates and a more than 10 percent decline in oil prices boosted automakers and travel companies.
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Dollar holds ground after Citigroup earnings report
The US dollar held firm on Friday amid news that US banking giant Citigroup, hard-hit by a sharp downturn in the US housing market, posted a smaller than expected quarterly loss.
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OIL: Analysts cautious as oil pulls back from record high
The price of oil recorded its biggest weekly drop ever and a gallon of gas finally pulled back from its record high.
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NYSE: Fragile Wall Street faces earnings test
ACID TEST:
Analysts are set to scrutinize quarterly reports from big financial firms this week for signs that they can still turn a profit in a tough market
A newly revived Wall Street faces a fresh test of momentum in the coming week with a wave of corporate results that may indicate whether the latest rebound is for real.
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ASIA: Asian stocks drop amid fear of global profit erosion
REGIONAL ROUNDUP:
The TAIEX is expected to extend gains in the week ahead after dropping almost 6 percent this week on bad news from US financial giants
Asian stocks declined for the fifth week in six, driving the benchmark index to the lowest level since October 2006, on concern the weakening global economy will erode profits.
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