Markets slip after bank earnings reports

Published October 12, 2012 4:35pm ET



LONDON (AP) — Financial markets slipped on Friday, as disappointing earnings from Wells Fargo bank offset brighter figures from JP Morgan Chase & Co. and a strong U.S. consumer confidence survey.

JP Morgan, the biggest U.S. bank by assets, reported a record quarterly profit of $5.7 billion for the July-to-September period, up 34 percent from the same period a year ago. Earnings were $1.40 per share, far exceeding the $1.21 consensus in the markets.

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