Nikkei up for an eighth straight day as the Yen climbs and U.S. jobs improve

Source: Dukascopy Bank SA
Japanese stocks climbed, sending the Nikkei 225 Stock Average to its longest daily winning streak in more than three years on better-than-expected U.S. employment data and weakening Yen that bolstered the profit outlook for exporting companies. The Nikkei 225 Index surged 0.5% to 12,349.05 on growing optimism that the new nominee for BOJ will halt deflation that has lasted for already 15 years. Resona Holdings Inc. and Shinsei Bank Ltd led gains among financials amid speculation the lenders might follow Sumitomo Mitsui Trust Holdings Inc. and pay back public funds. The lenders jumped 13.7% to 531 yen and 8.4% to 245 yen, respectively. Tokyo Dome Corp also was among the three top performers with its stock price soaring 13% to close at 406 yen, capping further losses in consumer services that erased 0.3%. Meanwhile, Japan Tobacco Inc., one of the largest tobacco companies in the world, slumped 4% after announcing it plans to sell off 253 million shares at 2,949 yen each to aid fund rebuilding after suffering from damages caused by quake Tsunami.


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Mon, 11 Mar 2013 12:33:04 GMT

S&P 500 moves closer to its record high on improving labor market

U.S. shares rose on Friday as jobless-benefit claims dropped to a six-week low and investors look forward to further stimulus measures. The S&P 500 Index advanced 0.45% to 1,551.18, less than 1% below its highest value of 1,565.15 in October 2007. All the sectors included in the gauge rallied on Friday. The best performing sectors were consumer services and basic

Mon, 11 Mar 2013 19:01:05 GMT

Dow extends its gains on Friday

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