Markets: Microsoft, GE lift stocks

Strong quarterly reports from Microsoft and General Electric pushed blue chip stocks on Wall Street to their first weekly gain this month.

The better-than-forecast results boosted the Dow industrials while Apple's 2.5% slide helped lead the technology-oriented Nasdaq into the red.

The Dow Jones Industrial Average rose 65.16 points, or 0.5%, to 13,029.26. The S&P 500 index advanced 0.1%, to 1378.53.

Both benchmarks snapped two-week losing streaks, as the Dow gained 1.4% this week, and the S&P 500 climbed 0.6%.

Microsoft rallied 4.5% while General Electric GE gained 1.1% after earnings declined 12% but slightly beat Wall Street estimates, fuelled by renewed profit growth in its energy-infrastructure division.

McDonald's advanced 0.7% after first-quarter earnings rose and sales increased slightly faster than expected.

Technology stocks lagged behind. The Nasdaq Composite gave up gains and turned negative late in the session, falling 0.2% to 3000.45 and extending its streak to three straight weekly declines.

Apple, which represents 12% of the Nasdaq's weight, was down for a third straight session for a weekly loss of 5.3% but remains up more than 40% this year.

Other markets: Europe up, Asia mixed; commodities up
European markets were broadly higher, with banks gaining ground. In commodities, oil and gold rose.

The Stoxx Europe 600 rose 0.5% o 257.79 after better-than-expected data out of Germany and the UK. German business confidence rose unexpectedly for a sixth straight month in April, while retail sales in the UK for March rose well above expectations.

The German DAX 30 index rose 1.2% to 6750.12, gaining 2.5% for the week. The UK's FTSE 100 index added 0.5% to 5772.15, ending the week up 2.1%. Both indexes snapped four-week losing streaks.

The French CAC 40 rose 0.5% to 3188.58 and fell less than point on the week before the first leg of the presidential election.

In Asia, China's Shanghai Composite rallied 1.2% to a one-month high.

Japan's Nikkei Stock Average slipped 0.3%, to end the week down 0.8%. The index has fallen for three consecutive weeks, down 5.2% in that time.

Korea's Kospi was the top loser, down 1.3%, to 1974.65. Australia's S&P/ASX 200 and Hong Kong's Hang Seng both edged up 0.1%, to 4366.5 and 21010.64, respectively.

In commodities, light, sweet crude for May delivery expired after settling 78USc, or 0.8%, higher at $US103.05 a barrel in New York. The June delivery contract settled $US1.16 higher at $US103.88 a barrel.

Brent crude for June delivery on the ICE futures exchange traded 55USc higher at $US118.64 a barrel.

Gold prices edged up less than 0.1%, to $US1642 an ounce.

Currencies: US dollar slips
The US dollar slid against most major rivals as a wave of well-received earnings sapped some safe-haven demand.

The euro rose past $US1.32 after German business confidence made a surprise rise in April.

The euro was at $US1.3212 after rising as high as $US1.3224 and compared with $US1.3137 late on Thursday.

The dollar was at ¥81.56 from ¥81.59, while the euro was at ¥107.76 compared with ¥107.20.

The pound fetched $US1.6126 from $US1.6053, while the dollar bought 0.9094 Swiss franc from 0.9151 franc.ped against the euro but gained ground against the yen.