Corvus Capital Inc. 2007 Report & Accounts
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Interim Results for the six month period ended 31 March 2008.
European midday: Auto stocks on the rise
23 Jul 2008
Europe's main markets moved higher by midday, with auto stocks doing well after a flurry of better than estimated earnings.
rallied after first-half profit rose 49% to €733m. The carmaker also reiterated its sales and operating margin targets for the full year.
Italy's saw quarterly net income advance to a slightly better than expected €604m from €593m last year.
Meanwhile, second-quarter profit at rose 31% to €2.57bn, with revenue up 3% to €56.5bn. Operating profit increased 22% to €3.43bn.
Oil continued to fall as concerns over the impact of Hurricane Dolly eased. The storm is not expected to have a large impact on oil and natural gas production in the Gulf of Mexico, where around one quarter of US crude oil is produced.
Energy firms and were lower, while fuel hungry airlines including advanced.
Banks were also doing well, with , , and among the biggest risers in the sector.
The German Dax is 68 points higher at 6,511, the French CAC gained 70 points to 4,397, while the Swiss market rose 113 points to 7,036.
In economic news, euro zone new industrial orders fell 3.5% in May compared to the previous month and 4.4% year-on-year, according to EU statistics office Eurostat.
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