World stocks rose to 9-month highs and the euro hit a 7-week high versus the dollar today as a recent run of strong corporate earnings and anticipation of more boosted optimism for a global economic recovery.
However, the Dublin market bucked the upward trend and was trading down 26.71 points at 2776.48 at 12.15pm.
Tokyo's stock market posted its longest winning streak in 21 years while emerging Asian stocks hit a 10-month high. US stock futures pointed to a higher open on Wall Street later following strong gains in most indexes on Friday.
This week's results include Exxon Mobil, Honda Motor, Motorola, Deutsche Bank and BP.
The FTSEurofirst 300 index rose 0.6 per cent to a fresh 8-1/2 month peak with media and utilities shares leading the rally. S&P futures were up 0.4 per cent.
Emerging stocks rose 1.4 per cent to hit a fresh 10-month high.
In London the FTSE-100 index at 11:45am was up 18.79 at 4595.40 while the DAX in Frankfurt added 0.8 per cent to 5,269.76 and France's CAC 40 increased 24.40 points to 3,390.59
According to Thomson Reuters data, the second-quarter earnings growth rate for the US benchmark S&P 500 index improved to -31 per cent last week from -35.2 per cent in the previous week, thanks in part to better-than-expected earnings from financial sector firms.
Of the 184 companies in the S&P 500 index that have reported earnings to date for the second quarter, 77 per cent have beaten expectations.
The materials, energy, industrial sectors are anticipating the lowest earnings growth rates for the quarter.
This week, a further 146 S&P 500 companies are due to announce earnings results.
Investors are awaiting the outcome of a two-day meeting of top US and Chinese officials in Washington, which started today, on a broad range of economic, security, diplomatic, energy and environmental issues.
The United States, which ran a record $266 billion trade deficit with China in 2008, is seeking ways to rebalance trade, including persuading the Chinese to liberalise exchange rates so that the yuan appreciates to trim Chinese exports and boost imports.
Reuters