Banks reversed earlier losses and also insurers made strong earnings-driven gains. Carmakers recovered some of the previous losses, with DaimlerChrysler leading the advance on speculation it may sell its poorly-performing US Chrysler group. UBS, the biggest wealth manager in the world, impacted the market negatively as it posted a worse-than-forecast 21% drop in third-quarter net profit. By mid morning, the FTSE 100 rose 0.3%, Frankfurt Xetra Dax added 0.4%, the CAC 40 in Paris climbed 0.1%. |
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