Stock market fixing:
Nikkei 225 +122.15 +0.90% 13,360.04
Topix +14.92 +1.20% 1,312.80
CAC +76.59 +1.80%
4,342.59
FTSE -63.80 -1.18%
5,512.70
DAX +123.54 +1.97%
6,395.75
Dow -56.58 -0.50%
11,231.96
NASDAQ -2.06 -0.09%
2,243.32
S&P -10.59 -0.84%
1,252.31
10yr Note -0.4300 -0.108%
3.930%
NYMEX Crude Oil -3.92
-2.70% 141.37
Gold -4.80 -0.51% 928.80
Japanese stocks rose, snapping the
Nikkei 225 Stock Average's longest losing streak in 54 years, as investors bet
shares had become cheap relative to earnings.
Mizuho Financial Group Inc., Japan's
third-biggest bank by assets, rose the most in a month, while Tokyu Land Corp.
paced a rally by developers. Orix Corp., the nation's largest non-bank
financial company, jumped the most in eight weeks. Canon Inc. gained as the yen
fell to the weakest against the dollar in almost two weeks.
Mizuho surged 6%, the sharpest gain
since June 2. Smaller rival Sumitomo Mitsui Financial Group Inc. gained 3.6%,
while Chuo Mitsui Trust Holdings Inc. climbed 4%.
Tokyu Land Corp. surged 7.5%, while
Tokyo Tatemono Co. leapt 6.4%. Orix rose 6.3%. The stocks were the biggest
winners on the MSCI World Index.
Canon rose 1.5%, the biggest advance since June
16, while Mazda Motor Corp. added 1.8%. Mitsubishi Motors Corp.leapt 6%, the sharpest jump since June 4.
European stocks advanced, sending
the Dow Jones Stoxx 600 to its biggest gain in two months, after a rout left
the index at the cheapest relative to earnings in at least six years and oil
prices declined.
J Sainsbury Plc snapped a four-day
drop as JPMorgan Chase & Co. upgraded the food retailer, saying the shares
were cheap compared with profit. Continental AG led auto-related stocks higher
as crude traded below $141 and the group rebounded from the lowest valuation in
five years. Awilco Offshore ASA rallied 15% after China Oilfield Services Ltd.
offered about $2.49 billion for the Norwegian oil-drilling contractor.
Sainsbury added 3%. JPMorgan raised
its recommendation for the third-largest U.K. supermarket chain to
``overweight'' from ``neutral.''
Continental, Europe's
biggest tiremaker, rallied 3.2%. Fiat SpA,
Italy's largest
carmaker, advanced 2%.
Air France-KLM Group climbed 4.6% as
Europe's biggest carrier said passenger traffic rose 2.6% in June, led by the
Middle East and Africa and the Americas.
EasyJet Plc increased 4%. Europe's second-largest discount airline said it carried
20% more passengers in June after adding planes and buying GB Airways Ltd.
Wall Street failed to set in the
positive territory Monday, with the Dow exiting bear territory, as investors
welcomed lower oil prices and a stronger dollar.
Stocks ended mixed on Thursday with blue-chips edging higher despite a weak
jobs report and an interest rate hike in Europe.
Company news: Automaker General Motors is set to cut
thousands of more jobs and sell more of its brands amid a deepening slump in
auto sales, The Wall Street Journal reported. Shares rose more than 5% in early
trading.
NBC Universal and two private
equity firms said Sunday they have reached a deal to buy The Weather Channel
from Landmark Communications Inc. Shares of General Electric, the parent company of NBC Universal, rose 1.5%.
Shares of Yahoo led the
Nasdaq higher on reports that a much ballyhooed deal with software maker Microsoft may still be in store.
Earnings: Investors are gearing up for earnings season, which unofficially gets
underway Tuesday when Dow stock Alcoa reports second-quarter results.
General Electric, another Dow
component, will report earnings later this week.