World stocks mixed

World stock markets gave mixed performances Friday, with European exchanges closing in positive territory for the fifth straight day while Wall Street wobbled in early trade.
Asian stocks rallied for a fourth day, largely ignoring news of the deadly bombings at luxury hotels in Jakarta.
Bolstered by better-than-expected financial results from government-aided US banking giants Citigroup and Bank of America, European exchanges powered ahead.
The London FTSE 100 index gained 0.62 percent to reach 4,388,75 points while in Paris the CAC 40 rose 0.58 percent to 3,218.46. The Frankfurt Dax added 0.43 percent to end the week at 4,978.40.
Elsewhere there were gains of 1.0 percent on the Swiss Market Index, 0.26 percent in Milan and 1.11 percent in Amsterdam. The Brussels exchange fell 0.07 percent.
US stocks dipped in morning trade as investors digested earnings reports from big companies and braced for a likely major financial sector bankruptcy.
The Dow Jones Industrial Average was down 0.13 percent at 8,706.15 at mid-day while the technology-heavy Nasdaq had dropped 0.37 percent to 1,878.05.
"Markets are struggling to add to weekly gains after stocks rose the first four days of the week and it remains uncertain if CIT Group will become the next bank to fail as a result of the credit crisis," said Charles Schwab & Co. analysts in a client note.
"There is a good deal of earnings news being digested this morning," said Patrick O'Hare of Briefing.com.
However, "reading between the banner headlines of upside earnings surprises, we see in the commentary from companies reporting that the pace of economic recovery isn't going to be a quick one which, in turn, leaves us questioning the rapidity and sustainability of this week's move," the analyst said.
Bank of America, the largest US bank by assets, topped forecasts with 3.2 billion dollars in second-quarter net profit.
Troubled Citigroup reported net earnings of 4.3 billion dollars in the second quarter that resulted from a big one-time gain on a joint brokerage venture.
CIT Group, a major business lender on the brink of bankruptcy, said late Thursday it was working with lenders to avoid collapse after the government refused fresh aid.
In London British Airways jumped 2.95 percent to 136 pence on its plans to expand liquidity by 600 million pounds, notably through the issuance of convertible bonds.
But in the finance sector Lloyds Banking group fell 3.50 percent to 67.5 pence, hit by a bout of profit taking after major gains earlier in the week.
In Paris auto maker Renault overcame news of a worldwide sales slide of 16.5 percent in the first half of the year and rose 1.62 percent to close at 25.99 euros.
Bank Societe Generale added 1.19 percent to reach 42.55 euros.
In Frankfurt the auto sector generally found solid support. BMW jumped 2.68 percent to 29.26 euros after securities firm Nomura raised its recommendation on the share.
Daimler added 2.01 percent to reach 28.95 euros. But Volkswagen, affected by uncertainties afflicting its principal shareholder Porsche, fell 1.96 percent to 249.99 euros.
Earlier Friday share prices rose 0.55 percent in Tokyo, 2.42 percent in Hong Kong and 0.19 percent in Shanghai.