WPP reports 7.6% rise in Q1 sales

By Tom Lydon: Materials sector exchange traded funds have been outperforming broader U.S. equities as global growth gains momentum, notably in the emerging markets.The Materials Select Sector SPDR (XLB) has gained 8.2% over the past month, while the S&P 500 rose 3%.

WPP said its net profit in 2010 rose 34% as the recovery in emerging markets and the U.S. strengthened demand for advertising, and the company forecast organic revenue growth of 5% this year.

There are numerous signs the entire Eurozone is in recession, including Germany. Nonetheless economic dunces talk as if recession can be avoided. For making just that claim, I blasted the IMF on Monday in Dimwit Comment of the Day: Christine Lagarde, IMF Director says "Europe May Avoid a Recession This Year". Let's ponder a sampling of data released today that proves without a doubt Europe is already in recession.

Zacks.com submits: The Hershey Company (HSY) has posted fourth-quarter and full fiscal 2010 financial results. The adjusted quarterly earnings of 61 cents a share remained in line with the Zacks Consensus Estimate, but was down 3.2% from 63 cents earned in the prior-year quarter.

AMSTERDAM — Anheuser-Busch InBev NV, the world’s largest brewer, said Wednesday that profit fell 4.9 percent in the fourth quarter due to higher financing costs, and it forecast weak first quarter sales volumes in the United States and Brazil. The maker of Budweiser, Bud Light, Stella Artois and Beck’s said net profit was $1.76 billion (€1.35 billion), down from $1.85 billion in the same period a year ago.

AMSTERDAM — Anheuser-Busch InBev NV, the world’s largest brewer, said Wednesday that profit fell 4.9 percent in the fourth quarter due to higher financing costs, and it forecast weak first quarter sales volumes in the United States and Brazil. The maker of Budweiser, Bud Light, Stella Artois and Beck’s said net profit was $1.76 billion (€1.35 billion), down from $1.85 billion in the same period a year ago.

Overall, the global economic environment remains fragile and prone to further disappointment The World Bank cut its global growth forecast for this year as austerity measures, high unemployment and low business confidence weigh on economies in developed nations.

A "policy-driven, multi-speed recovery". That's how the International Monetary Fund (IMF) summarises the prospects for the world economy in its latest update, which has just came out.