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Spain's IBEX rose 1.7 percent, France's CAC-40 1.1 percent and Germany's DAX 0.9 percent. However the yields on Spanish and Italian government bonds rose, a sign that investors are still uneasy about the ability of those countries to service their debt. The yield on Spain's benchmark 10-year bond rose 0.08 percentage point to 5.87 percent. Italy's 10-year yield rose 0.11 point to 5.64 percent. The Dow hit its high for the year on April 2. It fell fast soon after, then bounced around. With Friday's gain, the index is now just 36 points away from that level. In corporate news, Procter & Gamble fell 4 percent after the consumer products giant reported a 16 percent profit slump for the first three months of the year on higher costs for raw materials and restructuring charges. The maker of Bounty paper towels and Luv diapers said it would be rolling back price increases on some products where it was losing market share. It also lowered earnings forecasts for the year. Starbucks slid 5 percent after the coffee company reported a slowdown of sales in Europe. For the week, the Dow is up 1.5 percent, the S&P 500 is up 1.8 percent and the Nasdaq is up 2.3 percent.
[Associated
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