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World Markets Trade Higher on Earnings and Osama bin Laden Killing

Asia’s benchmark stock index rose to the highest level in almost four months after U.S. companies reported earnings that topped analysts’ estimates and President Barack Obama said Osama bin Laden has been killed.

Komatsu Ltd., the world’s No. 2 maker of construction equipment, advanced 3 percent after Caterpillar Inc. posted better-than-estimated profit. Seiko Epson Corp., a Japanese printer maker, rose 5.7 percent after forecasting net income will jump 66 percent this fiscal year. Hyundai Development Co. surged 12 percent in Seoul after the government announced measures to aid builders and boost the property market.

The MSCI Asia Pacific Index gained 0.7 percent to 140.42 at 7:38 p.m. in Tokyo, the highest level since Jan. 19. Three stocks rose for each that fell on the gauge. The measure rose 0.5 percent last week after the Federal Reserve renewed its pledge to stimulate growth in the U.S., the world’s biggest economy, with low interest rates.”


“European stocks advanced for an eighth day, the longest winning streak in 10 months, as President Barack Obama said al-Qaeda leader Osama bin Laden was killed in Pakistan yesterday. U.S. index futures and Asian shares rose.

Danisco A/S climbed to the highest since 1989 as the world’s largest food-ingredients maker received an increased takeover bid from DuPont Co. Demag Cranes AG jumped 22 percent after Terex Industrial Holding AG offered to buy the company.TNT NV lost 1.9 percent after the Dutch mail carrier that’s spinning off its express unit said quarterly profit fell.

The benchmark Stoxx Europe 600 Index gained 0.2 percent to 284.35 at 12:12 p.m. in London, a two-month high. Standard & Poor’s 500 Index futures advanced 0.5 percent and the MSCI Asia Pacific Index rose 0.7 percent. U.K. and Irish equity markets are closed today for a holiday.”


“Stocks and U.S. equity-index futures gained, the Dollar Index snapped a nine-day slump and oil dropped the most in two weeks after President Barack Obama said Osama bin Laden is dead. Silver sank after CME Group Inc. raised the amount of cash traders need for speculative positions.

Standard & Poor’s 500 Index futures advanced 0.5 percent at 7:16 a.m. in New York. The Stoxx Europe 600 Index rose 0.2 percent, an eighth day of gains. The Dollar Index added 0.1 percent after falling 3.4 percent during its losing streak, South Korea’s won rose against its 16 most-traded peers, and the Swiss franc weakened. Oil lost 1.5 percent in New York. Silver futures plunged as much as 13 percent. The yield on the two-year German note climbed four basis points.”

U.S. Futures

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