Europe unlikely to pick fight on Wolfowitz succession

(Reuters) - At a meeting of G8 finance ministers near Potsdam, Germany, European officials said they would like to see a qualified candidate who could restore credibility to the poverty-fighting institution and heal the wounds of Wolfowitz's departure.




But none are questioning the traditional right of the United States to pick the new president of the Washington-based institution and several said they assumed an American would replace Wolfowitz, forced out this week over his handling of a high-paying promotion for his bank-employee companion.


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World economy doing fine, say G8 powers

(Reuters) - "Global growth remains robust and it is more balanced across regions and within our countries," said a communique published at the end of a two-day meeting at a lakeside hotel near Berlin.




"Risks for the outlook have abated, but high and volatile energy prices remain a concern and we will remain vigilant."


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US stocks rally on M&A; consumer data; Dow at record

(Reuters) - U.S. stocks rose on Friday giving the Dow and the S&P 500 seven straight weeks of gains and pushing the Dow to a record close, as more takeover activity and consumer sentiment data improved the outlook for equities.

A gauge of consumer sentiment rose more than expected in May despite rising gasoline prices and reassured investors about the economy's strength.


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European Stocks Rise on Takeovers; Reuters, Hanson, Daimler and Nokia Gain

(Bloomberg) -- European stocks rose to a 6 1/2-year
high this week after companies reported earnings that exceeded
analysts' estimates and more than $75 billion in takeovers
boosted speculation of mergers in the media, building and auto
industries.

``Things look very rosy for stocks,'' said Thorsten
Winkelmann, who manages the equivalent of $4.7 billion at Allianz
Global Investors in Frankfurt. ``Many takeovers are happening and
companies have proven the outlook for corporate earnings was too
cautious.''


Read more at Bloomberg Stocks News