global market in last week May12-16

European stocks gained on better earnings from BNP Paribas SA and European Aeronautic, Defence & Space. While Asian markets climbed led by BHP Billiton, the world`s biggest miner on speculation China is scouting for acquisition in mining space probably in BHP to secure more resources to meet growing needs of the Asian`s second biggest economy.
However, shares in US fell paced by retail and financial companies after the consumer confidence slipped to the lowest in 28 years and Merrill Lynch reduced ratings of two regional banks. Overseas investors bought net of Rs 15.25 billion worth equities over the week including provisional figures.