Stocks: Thursday’s review

European stocks closed session mixed after a rally in automakers helped offset a drop in euro-area confidence.

On result of yesterday's session:

FTSE  5,748.72 +29.83 +0.52%

CAC  3,229.32 -4.14 -0.13%

DAX 6,739.9 +35.40 +0.53%

An index of executive and consumer sentiment in the 17- nation euro area fell to 92.8 this month from a revised 94.5 in March, the European Commission said today. Economists had forecast a drop to 94.2 from a previously reported 94.4.

Shares of Deutsche Bank declined 3.2% after Germany’s biggest lender said first-quarter profit fell 33 percent to 1.38 billion euros as a rebound in investment-banking earnings from the previous three months wasn’t enough to match year-earlier levels.

Bank shares dropped: Unicredit SpA fell 3.1%, Banco Santander SA  lost 3.8%, Societe Generale SA declined 3.6%.

Shares of Volkswagen jumped 8.6% after the world’s second-largest carmaker reported a 10 percent jump in first-quarter operating profit to 3.21 billion euros. After Volkswagen’ report Porsche increased 7.3%, Daimler AG increased 3.4% and Volvo AB advanced 2.7%.

U.S. stocks rose on better-than-estimated home data.

Equities rose as data showed that signed contracts to buy U.S. homes increased more than forecast in March. The Federal Reserve yesterday upgraded its estimates for growth and unemployment this year. Policy makers are holding off on additional steps to boost the economy amid signs that the more than two-year expansion is gaining strength. Yet earlier today, data signaled a cooling labor market as more Americans than forecast filed applications for unemployment benefits.

Exxon (XOM) declined 0.90% to $86.07 after saying net income fell 11%.