New 15 Year High In Tokyo, Euromarkets Move With Correction

A New 15-Year High In Tokyo

Japanese equities rose today for the 10th consecutive day, with the investors estimating that the profitability of exporters will improve after the jump of the dollar against the yen to the highest level since December 2002.

The Nikkei rose by 0.4% to 20,551.46 points and climbed to a new 15-year high. In case it manages to close above the 20,833.21 points in the next days, it will be the highest closing level since December 1996.

The index is moving upwards in the last 10 days, covering the longest upward trend since February 1988. The total profits of this period of the last 10 days are 5%.

The broader index Topix closed today with an increase of 0.7% at 1,672.76 points.

Euromarkets Move With A Correction Today

The European indices fell today and corrected from yesterday's gains, on the occasion of the ambiguous statements that were made regarding the progress of negotiations between the Greek government and institutions.

The British FTSE 100 index fell by 0.37% to 7,006 points, the German DAX recorded a fall of 0.47% at 11,716 points and the French CAC 40 moved downwards by 0.69% to 5,147 points.

The European Stoxx 600 index dropped by 0.48% at 406.93 points.

On the board, Tate & Lyle (LONDON:TATE) makes losses of 4.8%, after announcing that the pretax profit of the 12-month period fell to £51 million compared with the £277 million a year ago.

In contrast, Sports Direct (LONDON:SPD) International grew by 3.2%, after the better than expected results that were announced for the year which ended on April 26. The company also announced that net debt on April 26 was £60 million, compared with £212 million on April 27, 2014.

In the economic data of the day, a decline of 0.6% was recorded by the import price index in Germany on an annual basis in April. Compared to March, the index rose by 0.6%. The analysts were correct in their forecasts for the annual change in the index; however, they were mistaken in their predictions for the monthly change of +0.5%.