In the UK the FTSE 100 Index has climbed 30.80 points to 5301.10 this morning, led by AstraZeneca.
The Pharmaceuticals firm shot up 103 points, or 4%, to 2583p, after raising its guidance for full-year earnings by 17% as a result of a 50% increase in quarterly profit.
British American Tobacco is also 28p higher to 1124p, after posting a 37% increase in its quarterly earnings.
On the losing end, Lloyds TSB has retreated 11.5p to 477.5p, despite a 9% increase in first-half profit.
Friends Provident is also down 2.75p to 183.25p, despite a 33% increase in the sale of life insurance and pensions in the first half.
In Tokyo the Nikkei 225 Stock Average picked up 0.4% to 11,899.60, its highest level in more than four months, adding 1.8% over the week and led by Matsushita.
The consumer electronics maker climbed 5% to 1,832 yen, after raising its first-half profit forecast by 43% to 50bn yen on the back of increasing sales of its flat-panel TVs and air conditioners.
Sony meanwhile, lost 3.6% to 3,710 yen, after cutting its profit forecast by almost 90% on the back of a consumer slump in electronics.
Kyocera, a maker of ceramic packaging for chips dropped 3.4% to 7,930 yen. The company declined 61%.
Nintendo also lost 1.8% to 11,800 yen, after saying first-quarter profit declined by 38% on lower sales of its GameBoy Advance devices.
In the US the Dow Jones advanced for a second straight day, climbing a further 69 points to 10705.55 at its close late last night, led by Caterpillar.
The outdoor and forestry equipment maker picked up $1.66 to $54.45, after announcing yesterday, its financing arm Caterpillar Financial Services sold $300m of two-year medium-term notes.
Honeywell added $0.97 to $38.99, after analysts upgraded its stock to "buy" from "neutral".
On the losing end Hewlett-Packard shed $0.29 to $24.49, with Boeing down $0.70 to $66.IFAonline
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