Barclays Plc beat forecasts with a near doubling of profits in 2009 to 11.6 billion pounds ($18.2 billion), cheering investors with an improved balance sheet and boosting shares across the sector.
Waste Management Inc posted higher-than-expected quarterly profit on Tuesday, helped by strong pricing and cost cuts, and the biggest U.S. trash hauler increased its dividend.
Stocks rose 1 percent on Tuesday as the latest batch of corporate earnings and data on manufacturing in New York state improved the profit and economic outlook.
A regional U.S. manufacturing gauge published Monday hit its highest level since October, but also suggested a rebound in that sector might run out of momentum.
U.S. stocks jumped on Tuesday as commodity-related shares rose with a slump in the dollar and the latest batch of corporate earnings improved the profit outlook.
Global oil prices recovered in European trade Tuesday mainly after the dollar dropped, reducing the appeal of commodities as an alternative investment. Light sweet crude for March delivery was seen trading at $75.34 a barrel at 4.00 p.m Indian time while Brent crude was at $73.95 a barrel at the same time. Crude oil advanced as the euro strengthened against the dollar, reducing the appeal of commodities as an alternative investment.
A gauge of manufacturing in New York state rose in February as inventories jumped, the New York Federal Reserve said in a report on Tuesday.
JPMorgan Chase & Co will buy the non-U.S. assets of commodities joint venture RBS Sempra from Royal Bank of Scotland and Sempra Energy for $1.7 billion cash, roughly doubling its commodities client base.
U.S. stocks rallied on Monday on gains in the financial and energy sectors, despite the lack of a detailed plan for a Greece bailout from European finance ministers.
Stocks gained on Tuesday as corporate earnings and a solid jump in manufacturing data fueled investors' optimism on their return from a 3-day holiday.
Merck & Co posted quarterly revenue ahead of analysts' estimates on Tuesday, and stuck by its financial goals from its recently completed merger with rival drugmaker Schering-Plough Corp.
Mortgage insurer PMI Group Inc reported a much wider-than-expected quarterly loss, as its U.S. unit continued to post disappointing results, sending its shares down 5 percent before the bell.
With computer hardware at the top of the shopping list for many companies this year, Hewlett-Packard Co and Dell Inc offer investors two different ways to play the information technology upgrade cycle.
Capital One Financial Corp's U.S. credit-card defaults rose in January, in a sign that consumers continue to remain under stress, it said in a regulatory filing.
Mortgage insurer PMI Group Inc reported a wider quarterly loss, as its U.S. unit continued to post disappointing results.
European ministers told Greece on Tuesday it may need to take further steps to bring a swollen debt under control and calm irrational financial markets, as wage cuts already announced by Athens sparked another strike.
Wall Street was set for a higher open on Tuesday as corporate earnings and a solid jump in manufacturing data fueled investors' optimism on their return from a 3-day holiday.
Royal Dutch Shell Plc said it was overhauling its pay practices for top management, including pay freezes and limits on bonuses, after a shareholder revolt last year.
Stock index futures rose on Tuesday as corporate earnings fueled investors' optimism on their return from a 3-day holiday.
Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 rise 0.4 to 0.6 percent, pointing to a higher open on Wall Street on Tuesday.
U.S. stock index futures rose on Tuesday, pointing to a higher opening, as corporate earnings fueled investors' optimism on their return from a 3-day holiday.
European shares gained on Tuesday after UK bank Barclays beat profit forecasts, and the euro rose against the dollar as European finance ministers put more pressure on Greece to resolve its fiscal problems.
Barclays Plc said it had started the year well after beating expectations with 2009 profits of over 11.6 billion pounds ($18.18 billion), on the back of a strong performance at its investment banking unit.
European shares rose on Tuesday at midday, led by the banking sector as Barclays (BARC.L) posted stronger than expected results.
Sterling edged higher against a broadly weaker dollar on Tuesday, tracking a relief rally in euro/dollar as investors trimmed short positions in the single European currency.
Greek customs officials began a three-day strike on Tuesday to protest against cuts in their income, in a further sign of discontent among public workers with an EU-backed deficit-cutting plan.
In what was a very lacklustre Asian session yesterday the Aussie dollar traded sideways between 0.8860 and 0.8880 for the majority of the day as local investors searched for inspiration.
Turmoil in Europe and belt-tightening in China are endangering a U.S. economic recovery that many believed was tentative even without headwinds from abroad.
Greece faced down pressure for deeper budget cuts at euro zone talks on Monday and warned that last week's support pledge by European leaders may not suffice to stop the debt market squeeze.
European shares closed higher on Monday, supported by gains in banks and miners, but a lack of clarity over euro zone support for Greece was seen capping further gains for equities.
