McDonalds sales, stock rose in July

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The fast food chain reported that its global same-store sales increased 0.7 percent last month. The sales gain was higher than what analysts estimated, which was for a 0.4 percent increase.

The reading, which measures sales at stores open at least 13 months, showed a 1.6 percent increase in the United States. Analysts called for a 0.3 percent gain.

McDonald’s shares dropped in morning trading but managed to rally by midsession at $98.42 per share. The shares increased 11 percent so far this year. The Standard & Poor’s 500 Restaurants Index went up 18 percent.