The Malta Independent 23 August 2026, Sunday
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European Stocks little changed

Malta Independent Friday, 27 May 2011, 00:00 Last update: about 14 years ago

On Thursday most European stocks climbed as commodities increased and investors awaited a report that may show the U.S. economy is growing faster than expected. U.S. futures and Asian shares climbed.

Man Group Plc jumped 2.3 percent after the world’s largest publicly traded hedge fund said profit fell less than estimated and client assets increased. Nobel Biocare Holding AG, the Swiss maker of dental implants, surged 7.7 percent after Morgan Stanley recommended the shares. Burberry Group Plc, the U.K.’s largest luxury retailer, dropped 2.3 percent even after reporting that profit rose 39 percent.

Asia stocks rose, driving the regional benchmark index to its best performance in a month, as raw material producers increased after oil and copper prices rallied.

Rio Tinto Group, the world’s second-biggest mining company by sales, climbed 1.9 percent. Bigger rival BHP Billiton Ltd. advanced 2.2 percent after Deutsche Bank AG upgraded basic resources to “overweight” and named BHP among its top picks. Canon Inc., the world’s largest camera maker, jumped 5.8 percent on its plan to buy back shares. Ricoh Co., a Japanese office equipment maker, surged 4.1 percent after announcing job cuts. Japan’s Nikkei 225 Stock Average advanced 1.5 percent.

U.S. stock futures gained, indicating the Standard & Poor’s 500 Index will rise for a second day. Microsoft Corp., the world’s biggest software maker, gained 0.5 percent in Germany after Greenlight Capital Inc. called for the replacement of Chief Executive Officer Steve Ballmer. NetApp Inc. rose 3 percent as the data-management company forecast earnings will beat analysts’ estimates. The U.S. will also publish reports on weekly initial jobless claims and personal consumption for the first three months of the year.

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.

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