• Most Popular
  • Most Shared

Nikkei rises, buoyed by business mood poll and oil

Mon Jun 30, 2008 10:07pm EDT

Stocks

   

(Updates to midmorning)

TOKYO, July 1 (Reuters) - Japan's Nikkei stock average rose 0.3 percent on Tuesday, buoyed by a better than expected business mood survey, with Mitsubishi Corp (8058.T) and other trading houses rising after oil hit a new record high.

Nippon Steel Corp (5401.T) and JFE Steel Corp (5411.T) edged lower after saying they had agreed with global miner Rio Tinto (RIO.AX)(RIO.L) to pay nearly double the previous price for Australian iron ore. The benchmark Nikkei .N225 rose 45.15 points to 13,526.53, on track to snap an eight-day losing streak. The broader Topix was up 0.5 percent at 1,326.76. (Reporting by Elaine Lies;)



More from Reuters

Photo

Obama blames "systemic failures" for plane attack

KANEOHE, Hawaii (Reuters) - President Barack Obama on Tuesday blamed "human and systemic failures" for allowing a botched Christmas Day attack aboard a Detroit-bound airliner and a U.S. official said the incident was linked to al Qaeda. | Video

» More Top News
A man passes by a logo of the Tokyo Stock Exchange at the bourse in Tokyo December 29, 2009. REUTERS/Yuriko Nakao

Toyko trade gets turbocharged

The "Arrowhead" gives Asia's largest -- and long derided -- bourse a viable electronic trading platform, it hopes.  Full Article 

Global Markets
REUTERS/James Saft
JAMES SAFT:

Welcome to the "Teenies"

Shrinking financial sector? Paltry investment returns? Welcome to the the next decade. Don't worry, there's some good news, too.  Commentary 

COMMENTARY