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European Markets Rise On Alcoa Profit; Banks Gain On Upgrade
European markets rose on Wednesday, after U.S. aluminum maker Alcoa Inc. reported a surprise profit. Banks rallied on a sector upgrade. Most major markets across Asia/Pacific fell, while the U.S. index futures are higher. Alcoa said after the U.S. markets closed on Tuesday that its first quarter profit fell 69 percent from last year, as higher costs and expenses more than offset a small increase in revenue. However, the company's quarterly earnings surprised Wall Street analysts who were expecting the company to report a loss. The Euro Stoxx 50 index of eurozone bluechip stocks is advancing 1.34 percent, while the ... (full story)
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