European shares closed the week mostly higher. Investors were cautious about France’s credit rating. Healthcare stocks saw losses, with Novartis and Zealand Pharma declining. Aerospace and defence stocks rose due to geopolitical tensions. Banks rebounded after a weak period. French stocks outperformed despite political concerns. Ocado shares fell after Kroger’s review of warehouse investments.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.