Scoreboard: Robust earnings

Wall Street rallied on the back of strong corporate earnings, leading European markets higher, while oil rebounded on news that Saudi Arabia had cut production.

US economic data, jobless claims rose by 17,000 to 283,000 last week. US markit "flash" manufacturing fell from 57.5 last month to 56.2 in October. Across the sub-indices, new orders growth eased markedly, with new export sales falling sharply. US FHFA home prices rose 0.5 per cent in August to be up 4.8 per cent over the year. The US leading indicators index rose by 0.8 per cent in September -- pointing to solid growth economic for the rest of the year. 

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