European stocks edged up despite some lackluster data.
German business confidence rose for a fifth straight month in
September, but missed analysts' expectations. The Ifo
business-climate index rose to 107.7 from a revised figure of 107.6
in August, slightly below expectations for 108.
In the United States, consumer confidence and regional
manufacturing reports also missed expectations. Conference Board's
consumer-confidence index slipped to 79.7 this month from a revised
81.8 in August. The median forecast of economists surveyed by
Bloomberg had called for a reading of 79.9.
The Richmond Fed's manufacturing index dropped to 0 from 14 last
month. Economists in a Bloomberg survey had predicted the gauge
would decline to 12.
In ADR news, Total SA (
) was lifted to equal weight from underweight at Barclays, which
cited capex control.
Telefonica SA (
) agreed to pay 324 million euros ($438 million) to increase its
stake in Telco SpA, a holding company that owns 22.4% of Telecom
), to 66% from 46%.
) is just lower after a U.S. judge found that HTC Corp. violated
two of its patents.
Carnival Corporation (
) forecast Q4 earnings below analyst estimates. CCL is projecting
net income during the current quarter of $0.03 either side
of $0.00 per share, well under the Capital IQ consensus
expecting a $0.09 per
share profit. The weak guidance overshadowed positive Q3
results, which included the company reporting earnings of $1.38 per
share, ex one-time items, topping analyst estimates by $0.06 per
share. Revenue of $4.73 billion was roughly in-line with the Street
The FTSE-100 was last up 0.21% at 6,571.46, the DAX up 0.34% at
8,664.60 and the CAC-40 up 0.56% at 4,195.61.
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