Page 24 - ARUBA TODAY

Tuesday 25 april 2017 BUSINESS
A24

Oui: Investors applaud French vote with stock rally Visa 2Q profits fall,
but results still top
Dutch elections last month, Street expectation
where a candidate who
ran on the pledge to pull KEN SWEET
the Netherlands from the AP Business Writer
European Union, lost. NEW YORK (AP) — Payment
“This surge is fading,” Paolini processing giant Visa said
said. “Maybe it’s too early
too early to celebrate, but its profit dropped 75 per-
that’s what the market is cent in the fiscal second
pricing in.” quarter from a year ago,
Risks remain: Not only is largely due to the costs of
there the runoff election for integrating its recently ac-
France in two weeks, but quired Visa Europe into the
there is also a parliamen- larger company.
tary election in June. And The San Francisco-
other elections may loom based company said
even larger for the future of it earned $430 million,
the European Union, such down from $1.7 billion in
as next year’s Italian vote, the same period a year
Paolini said. earlier. On a per-share ba-
On Monday, though, relief sis, Visa earned 18 cents
reigned. France’s CAC 40 a share versus 71 cents a
index jumped 4.1 percent share a year ago.
Specialist Anthony Rinaldi, left, and trader Fred Demarco work on the floor of the New York Stock and at one point touched Visa had two significant
Exchange. U.S. stocks joined a worldwide surge higher Monday after the first round of France’s
presidential election raised expectations that the European Union will hold together. its highest level since 2008. one-time charges on its
(AP Photo/Richard Drew) Germany’s DAX gained 3.4 books related to the legal
STAN CHOE mer of 2011. of those candidates would percent, and the FTSE 100 organization of the com-
pany to include Visa Eu-
AP Business Writer “It’s good news, and now have followed the path set in London rose 2.1 percent.
NEW YORK (AP) — Vive le investors have a reason to by last year’s “Brexit” vote Asian markets also rose. rope, which Visa Inc. pur-
rally. focus on the fundamen- by Britain to exit the Euro- Japan’s Nikkei 225 index chased last year. Exclud-
U.S. stocks joined a world- tals in Europe, which are pean Union and the U.S. climbed 1.4 percent, and ing those one-time items,
wide surge higher Mon- strong,” said Luca Paolini, election of President Don- Hong Kong’s Hang Seng Visa had an adjusted profit
day after the first round of chief strategist at Pictet As- ald Trump as a kick in the and South Korea’s Kospi in- $2.1 billion, or 86 cents per
France’s presidential elec- set Management, a U.K.- face to the globalist, free- dexes both added 0.4 per- share, which beat analysts’
tion raised expectations based firm that manages trade worldview. cent. expectations.
that the European Union $165 billion in client assets. Emmanuel Macron, a can- In the U.S., the VIX index The company continues to
will hold together. A candi- The Standard & Poor’s 500 didate investors see as pro- that many investors see as benefit from the increased
date seen as pro-business index jumped 25.46 points, business, ended up winning a measure of the market’s adoption of plastic as a
won the most votes Sun- or 1.1 percent, to 2,374.15. the most votes. He will face fear level plunged 25 per- method of payment across
day, and many investors The Dow Jones industrial Marine Le Pen in a runoff cent. That’s its largest drop the globe. All major geo-
expect him to win a runoff average rose 216.13, or 1.1 election in two weeks. Le since the summer of 2011 graphic divisions of Visa
against the remaining anti- percent, to 20,763.89, and Pen is one of the candi- when worries were intense reported greater usage of
EU candidate, which is set the Nasdaq composite dates who campaigned that Europe’s debt crisis Visa’s products in the quar-
for May 7. gained 73.30, or 1.2 per- against the European could lead the union to un- ter. The amount processed
Prices for gold, Treasurys cent, to 5,983.82. Union, but many investors ravel. on Visa’s network is closely
and other investments that Coming into Sunday’s elec- expect Macron ultimately Demand for other invest- watched by investors since
signal fear in the market tion in France, several can- to be victorious. ments that investors flock the company charges a
all sank, while a popular didates railed against the “It’s not only France” where to when they’re fearful also fee to a merchant each
gauge for measuring inves- European Union, one of the the forces of populism fell. The price of gold fell time a customer uses their
tor fear eased by the big- world’s dominant trading seem to be waning, said $11.60 to settle at $1,277.50 Visa credit or debit card.
gest margin since the sum- partners. A victory for one Paolini. He pointed to the per ounce.q Visa processed $1.73 trillion

on its credit and debit card
Japan’s Nikon sues ASML, Zeiss over chip technology network in the quarter, up
37 percent from a year
earlier, but that increase
TOKYO (AP) — Nikon Corp. a disagreement over the against ASML in the District mersion lithography tech- includes the processing
said Monday it has taken right to use the technology Court of The Hague in the nology used to make
legal action in the Nether- in making computer chips. Netherlands. It said it also semiconductors for smart- business of Visa Europe
lands, Germany and Ja- ASML expressed disap- is filing patent infringement phones, memory chips and as well. In the U.S., where
pan over the use of semi- pointment over Nikon’s cases against ASML in To- other products. It said ASML Visa does most of its busi-
conductor lithography action and denied it had kyo and against Zeiss in is the only other company ness, the company pro-
technology in products infringed on any of Nikon’s Mannheim, Germany. selling immersion technolo- cessed $775 billion on its
made by Dutch and Ger- patents. “ASML believes “The continued unauthor- gy systems. Zeiss makes the network in the quarter, up
man companies. that Nikon’s claim is without ized use of Nikon’s pat- optical components used roughly 12 percent from a
Nikon said it is seeking to merit. We will defend our- ented technology by ASML in ASML’s lithography sys- year earlier. Visa last year
stop Dutch company ASML selves vigorously against and Zeiss has given Nikon tems. The Japanese com- became the credit card
Holding N.V. and its supplier the allegations and we will no alternative but to en- pany said it is seeking court processing company for
Carl Zeiss SMT GmbH from consider all means at our force its legal rights in the injunctions to stop ASML Costco, taking that busi-
using patented technology disposal,” ASML said in a courts of law,” the Tokyo- and Zeiss from selling those ness away from American
without its permission. statement. based company said in a systems and also is seeking Express, which has helped
The move followed a fail- Nikon said it had filed 11 statement. an undisclosed amount of it expand its total payment
ure of mediation to settle patent infringement cases Nikon pioneered the im- damages.q processing as well.q