Tokyo and London trading higher
by Brian Turner
Japanese markets were higher on Tuesday, with both the Nikkei and Topix indexes closing higher as the dollar strengthened in relation to the yen.
Automobile manufacturing was one of the sectors benefiting, with Toyota, Nissan, and Honda all up. Technology stocks, including Cannon, Matsushita, and Hitachi, also did well.
Onco Therapy Science, a drug maker, also closed higher, as did some energy and entertainment stocks.
Not all was rosy, however, as Japan Tobacco, the world’s third largest tobacco company, Fuji Photo Film, and Fast Retailing, a clothing retailer, were all down.
In London, meanwhile, the markets were also up on the day, partly on the strength of a jump of 17.9 percent in Allied Domecq after the maker of Beefeater gin and Stolichnaya vodka announced long-rumored talks with French and American drinks companies.
The rise in Allied’s stock was the largest one-day rise of an FTSE 100 company in 10 months. Other makers of spirits were also up Tuesday, as were pharmaceuticals.
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