Althoguht ine single data point does not a trend make, it looks like McDonald's (MCD) finally has a handle on its 14,000 or so global stores.
The company's shares are up 97 cents, or 1.8%, in midday trading Monday after the company reported year-over-year sales around the globe were up 4.3% in July, a big bounce back from the June increase of 2.6% , Barron's reports.
However, Jason West, analyst at Deutsche Bank, said the global sales increase had alleviated concern about a possible “downward spiral” in comparable sales, as had been seen at competitors like Burger King . “Globally, they have not had a negative month [in sales] in several years,” he said , Financial Times reports.
"Europe especially was well ahead of expectations. The UK and France continue to drive things there," Edward Jones analyst Jack Russo said.
Still, UBS analyst David Palmer cautioned that results from Europe eventually will soften: "We remain somewhat concerned about Europe (same-store sales) slowing over time, but current momentum is heartening, Reuters reports.
US President Joe Biden and Iraqi Prime Minister Mustafa Al Qadimi signed an agreement on July 26 to formally end the USA's military presence in the country by the end of the year