Schlumberger Ltd, (SLB: chart), oilfield-services company, reported that Q1 net income advanced 38% to 59 cents a share, from 43 cents in the year-ago period on 34% higher revenue. Earnings before charges and credits were 59 cents against 32 cents. The company beat analyst estimate of 55 cents. Both more drilling services and higher pricing drove Q1 results, the company added.

8:15AM European averages advanced at mid-day.
European markets advanced at mid-day trading, supported by six-year-high close of the Dow Jones index which offset disappointing news from Sweden’s Ericsson and Britain’s WPP. The German DAX 30 gained 0.5%, the French CAC 40 rose 0.5%, while London’s FTSE 100 climbed 0.6%, lifted gains for the second biggest department store Debenhams PLC. The company announced plans to return to the LSE by means of initial public offering to raise $125 billion amid hard trading conditions in the retail sector.

7:45AM Asian markets closed mixed.
Asian-Pacific benchmarks closed mixed, following a decline in commodities prices and optimism about strong corporate releases which boosted key export-related stocks. South Korea’s Kospi led advancers, reaching a historic high with support provided by tech conglomerates. The Nikkei closed higher by 0.5% to 17,403.96, lifted by strength in blue-chip stocks like Sony, up 3.5%, Canon, higher by 4.6%, Honda Motor, up 4.6%, and Nissan Motor, up 2.2%. The Japanese index erased some of the early gains on partial skepticism about strong earnings. China Shanghai surged to 2.2%, led by Sinopec. Among regional decliners, Hong Kong’s Hang Seng lost 0.2% as profit taking in China-related stocks offset a rise in property shares. Taiwan Weighted index was down 0.1% as investors locked in gains. Australia’s All Ordinaries dropped 0.5%, dragged down by metals stocks Rio Tinto and BHP Billiton.