Rally Continues In Tokyo
The equities in the Japanese stock market rose for a ninth consecutive session. However, gains were limited as the strong data for the US economy sparked concerns that the rise of interest rates might come sooner than expected.
The Nikkei rose by 0.2% to 20,472.58 points although it changed signs several times during the session. The upward trend of the last nine days is the largest that has been recorded since last August.
The broader index TOPIX closed with an increase of 0.1% at 1,661.33 points, while JPX-Nikkei Index 400 also rose by 0.1% to 15,020.90 points.
Euromarkets Recover Today
The European indices started with profits today and interrupted the 3-day downward trend as they received boost from the business developments that take place in Europe.
The British FTSE 100 index was up by 0.42% at 6,978 points, the German DAX recorded gains of 0.27% at 11,657 points and the French CAC 40 moved up by 0.62% to 5,115 points.
STOXX 600 index recorded profits of 0.43% at 405.33 points.
On the board, IAG (LONDON:ICAG) makes gains of 1.6% as it had received approval from the Irish authorities to proceed with the acquisition of Lingus Group, worth EUR 1.4 billion.
Also, Assicurazioni Generali (MILAN:GASI) increased by 1.7% after the announcement that it plans to boost its dividend policy and increase the cash flow to over EUR 7 billion until 2018.
In the economic data of the day, GfK consumer climate index in Germany is expected to stand at 10.2 points in June compared with the 10.1 points in May and the estimations for reduction to 10 points.
Oppermann (SPD): A Grexit Would Be Disastrous For Europe
The First Secretary of the SPD parliamentary group in Germany, Thomas Oppermann, warned strongly today against the exit of Greece from the Eurozone.
A Grexit would be a disaster for the whole Europe, Oppermann said to the German newspaper Rheinische Post.
Amid the international crisis everybody’s focus is on Europe, he added with also having ahead the meeting of the G7 in Dresden which starts today.
A Grexit would be a sign of weakness that will burden us all, he said. A bankruptcy would be extremely difficult for Greeks, Oppermann added and commented that he cannot imagine that the Greek government would allow this.
Meanwhile, Oppermann asked Athens to implement further reforms, noting that the release of the remaining funds of the second aid program will be made only after specific and verifiable reforms.