On Friday European stocks rallied after earnings at Research In Motion Ltd and Oracle Corp. topped analysts’ estimates and Carrefour SA announced a $2 billion store revamp plan. US index futures and Asian shares rose.

ARM Holdings plc and SAP AG rose after both Research in Motion and Oracle signalled an increase in technology spending. Carrefour climbed 5.6 per cent to the highest in more than two years as plans to revive its superstores prompted analysts to upgrade the shares. Crucell NV soared 54 per cent after Johnson & Johnson announced plans to take full control of the Dutch vaccine maker.

Acquisitions news also boosted sentiment. The FTSEurofirst 300 index of top European shares was higher, after falling 0.8 per cent in the previous session.

Carrefour, the world’s second-biggest retailer, rose six per cent and hit its highest in more than two years after the group unveiled a 1.5 billion euro revamp of its European hypermarkets as part of a turnaround plan it hopes will more than double profits by 2015. UK supermarket groups Tesco, Morrison and Sainsbury all rose.

Copper rose after reassuring comments from China’s central bank about its plans to keep monetary policy loose. Spot gold hit a new record high of more than $1,280 an ounce as investors remained concerned about economic prospects.

Japanese stocks rose, driving benchmark indexes to their highest levels in more than a month, as the outlook for export earnings improved after the yen weakened from yesterday’s close. Honda Motor Co., a carmaker that gets more than 80 per cent of its sales abroad, gained 1.9 per cent. Sony Corp., a maker of electronics that earns more than 40 per cent of its revenue from the US and Europe, rose 1.4 per cent. The Nikkei 225 Stock Average rose 1.2 per cent while the broader Topix climbed 0.9 per cent.

This article was compiled by Valletta Fund Management Limited, a member of the BOV Group. Valletta Fund Management, TG Complex, Suite 2, Level 3, Brewery Str., Mriehel BKR 3000. Freephone: 80072344. email: [email protected] Internet address: www.vfm.com.mt. Valletta Fund Management Limited is licensed by the MFSA.