Citigroup Inc (C.N) reported its highest quarterly profit in nearly eight years as costs plunged, showing that the bank's efforts to streamline its business may be starting to pay off.

American Express Co, the world's largest credit card issuer, reported a better-than-expected rise in quarterly profit, helped by higher spending by U.S. card holders and an increase in net interest income.

U.S. stocks ended marginally lower on Thursday as lingering worries about upcoming corporate earnings reports offset enthusiasm about a trio of soaring Wall Street debuts.

The roaring stock market rallies of the United States, Japan and Europe show no sign of reaching most emerging markets, where lackluster economic growth and company profits point to a fifth straight year of lagging performance.

Euro zone government borrowing costs slid to new lows on Thursday, a day after the European Central Bank pledged to fulfill its 1 trillion euro bond-buying program, although regional stocks took a step back from this week's multi-year peaks.

U.S. stocks closed higher on Wednesday, fueled by gains in oil companies and speculation that upcoming first-quarter earnings reports might not be quite as weak as previously thought.

The Frankfurt-listed shares of Internet companies Yahoo and Facebook outperformed those of rival Google, after media reports that Google would face anti-trust action from the European Union.

European shares hit a 14-year high on Wednesday before a meeting at which the European Central Bank is expected to affirm its loose policy stance, as weak data from China raised prospects of monetary easing there too.

Wells Fargo & Co (WFC.N), the largest U.S. mortgage lender, reported a drop in quarterly profit for the first time in five years as employee costs rose at a time margins are under pressure from low interest rates.

The Dow and S&P 500 ended higher on Tuesday, helped by energy stocks and quarterly earnings reports that topped modest expectations following worries about a strong dollar.