Economy

xchrom

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14. WORLD STOCKS STRUGGLE AS ASIA FAILS TO HOLD GAINS

Thu Jan 16, 2014, 07:19 AM

Jan 2014

http://hosted.ap.org/dynamic/stories/W/WORLD_MARKETS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-01-16-03-51-41

HONG KONG (AP) -- World stock markets struggled on Thursday as they fought to scrape out more gains a day after a key U.S. benchmark climbed to a new high on strong earnings and economic data.

Asian investors were initially reassured after the S&P 500 closed at its highest level yet, squeaking past its previous record set less than a month ago. The rally was helped along by Bank of America, the country's No. 2 bank, reporting that quarterly profits quadrupled.

A Federal Reserve survey that showed economic growth remained healthy also bolstered sentiment, as did optimistic comments about the state of the global economy by the World Bank and the head of the International Monetary Fund.

In early European trading, France's CAC 40 dipped 0.2 percent to 4,322.80, while Germany's DAX lost 0.1 percent to 9.724.61. The FTSE 100 index of leading British companies was nearly unchanged at 6,820.09.

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