Japanese shares snap yesterday's gains on strengthening yen

Source: Dukascopy Bank SA
Japanese stocks dropped, sending down the Nikkei 225 for its biggest decline on week since November, as the Yen appreciated against its major peers after Russia rejected Cyprus bailout plan, and Haruhiko Kuroda, the BOJ's governor, did not announce fresh monetary stimulus. The Nikkei 225 Index declined 2.4% to 12,338.53, posting a 4% weekly drop. 210 out of 225 members in the gauge posted losses. Tokyo Dome Corporation slid 7.8%, the most in the index, to drag down consumer services that were 3.5% lower. Furthermore, FANUC Corporation, one of the world's largest makers of industrials robots, retreated 5.5% to 14,510 yen to drag down industrials that erased 2.5% for the second biggest fall on Nikkei. Takara Holdings followed with a 5.1% plunge, adding to losses in consumer goods shares. Among best performers was Takashimaya Co Ltd that advanced 1.5% to close at 902 yen.

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Fri, 22 Mar 2013 13:21:06 GMT

Sterling rises to its five-week high on Friday amid Cyprus bailout debate

The British Sterling advanced against the Eurozone's currency to the highest level in a five-week period as Cypriot lawmakers started new bailout debate after they rejected first European refinancing plan. The Pound appreciated 0.1% to 84.96 pence per Euro earlier on Friday London session following a jump to 84.85 pence, its strongest level since February 11.

Fri, 22 Mar 2013 12:38:08 GMT

Gold rally continues on Friday heading for third straight week of gains

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