Increase in Caterpillar profits prompts Japanese advance

04/21/2008 | Bloomberg

Heavy demand from China mining companies and Russian builders resulted in a 13% increase in first quarter profits for Peoria, Ill.-based Caterpillar Inc. Following the news, Japan's biggest makers of earth-moving equipment, Komatsu Ltd. and Hitachi Construction Machinery Inc. advanced in trading. Caterpillar said it expects earnings to climb up to 15% this year.

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