Nikkei 225 weighted down by earnings reports

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Source: Dukascopy Bank
Japan's Nikkei Stock Average index retreated from previous gains and declined on Friday as investors anticipated disappointing earnings reports. Nikkei 225 index lost 0.42% or 37.22 points and settled at 8,831.93. Yamaha tumbled 7% on weak earnings and Sumitomo Metal Industries Ltd. gave up 2.2% after predicting fiscal year loss. On the upside Sony Corp. recovered from earlier reporting quarterly loss and jumped 8%. Sumco Corp. rallied 17% on the announcement it will cut 1300 jobs and sell preferred shares at JPY 45 billion.

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Fri, 03 Feb 2012 12:13:38 GMT

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