Japanese equities markets hit high

The Japanese equities markets hit their highest levels since mid-April on Friday, with the Nikkei 225 advancing by 0.9 percent to 11,514.03 and the Topix index rising 1 percent to 1,172.33.

The mining sector and the oil and coal sectors were up due to high commodities prices, and trading houses which are involved in commodities trading also saw large gains. Export-dependent stocks also advanced, but not as much.

In the eurozone, the FTSE Eurofirst 300 rose 0.16 percent to 1,139.75, a three-year high, as Pernod Ricard’s bid for Allied Domecq seemed sure to be successful after US winemaker Constellation Brands withdrew their bid for Allied. Also aiding the Eurofirst’s rise was a week in which the European banking sector saw significant advances on takeover news.

In London, the FTSE 100 also saw its highest level in three years as it gained 1 percent on the week to close at 4,077.6 on Friday. The FTSE saw an even larger weekly gain of 1.2 percent to close at 7,354.9. The oil sector was a major factor in the gains in London.

Meanwhile, at mid-day in New York on Friday, the Dow Jones Industrial Average had gained 0.3 percent to 10,609.87, the S&P 500 had also risen 0.3 percent to 1,214.73, while Nasdaq remained unchanged at 2,087.21. It was a week of small gains in New York, with major factors being the homebuilding and oil sectors and greater consumer confidence.

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