Stocks tick up but Europe lags on results worry

Global stocks ticked higher on Thursday following an earlier concerted central bank move to boost liquidity, but a mixed set of corporate results in Europe and a rebound in crude oil prices kept a lid on gains.
The dollar retreated from a recent one-month high hit against the euro and yen with the focus on inflation and GDP data due out of the United States at 1230 GMT.
MSCI's main world stock index gained 0.2%, held in check by a dip in European shares sparked by disappointing updates from French drugmaker Sanofi-Aventis, telecom group BT and food giant Unilever.
"People have been braced for mixed results and that's what we're getting. Costs are catching up and the consumer environment is weaker," said John Haynes, strategist at Rensburg Sheppard Investment Management.
"The macroeconomists have much lower numbers for expected aggregate profitability than individual analysts, and I think this is going to be the first year where the strategists are more right than the underlying analysts," he said.
Emerging market stocks rose, and gold bounced off a five-week low as bargain-hunters emerged.
U.S. and Asian stocks gained on a move on Wednesday by U.S., European and Swiss central banks to extend emergency lending facilities for investment banks.

OIL STEADY AFTER SURGE, TURKISH MARKETS RALLY

Oil was steady after rising $4 a barrel overnight on an unexpected drop in U.S. gasoline stocks prompted by suppliers facing weak consumer demand cutting production and imports.
Turkish markets surged as a court ruling against shutting the governing AK Party for anti-secular activities raised investors' hopes that greater political stability would boost the economy.
Shares jumped 3.5%, the lira gained more than 2% and benchmark bond yields fell by a%age point.