Robust corporate results helped world stock markets surge on Wednesday, bringing some relief to jittery investors after a brutal October sank equities with one of their worst drops since the financial crisis 10 years ago.
Broad gains in the U.S. equity market turned global stocks higher on Tuesday after President Donald Trump said a “great deal” could be struck with China that would relieve fears of a growing trade war between the world’s two largest economies.
Fiat Chrysler (FCA) reported better-than-expected third-quarter earnings and promised to pay 2 billion euros ($2.3 billion) in special dividends, but a lower net cash forecast and its over-reliance on the North American market weighed on its shares.
General Electric Co slashed its quarterly dividend to a penny a share, promised to restructure its power unit and said it faced a deeper accounting probe as new Chief Executive Larry Culp took his first steps to revive the struggling conglomerate.