Tokyo stocks rise as Greece-debt fears ease, commodities rise (2)

17:54, April 12, 2010      

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Brokers added that the anticipation of solid results in forthcoming corporate earnings reports from the U.S. and Japan also attracted buyers and eurozone governments offering Greece a financial lifeline also lifted market sentiment on Monday.

News that eurozone finance ministers approved a 30 billion euro (40 billion U.S. dollars) emergency aid vehicle for debt-ridden Greece on Sunday was another supportive factor, analysts said.

Japanese firms with a big exposure to European markets were buoyed by Greece's bailout plan with Nintendo, the world's biggest maker of handheld game consoles, gaining 4.3 percent to 31,650 yen and Nippon Sheet Glass Co., which gets 42 percent of its revenue in Europe, adding 1.8 percent to 277 yen.

The euro strengthened to 127.16 yen Monday from 124.90 at the 3 p.m. close of Tokyo stock trading on April 9.

London copper futures hit a new 20-month high and aluminum surged to an 18-month high on Monday, as the dollar retreated against a number of other currencies on hopes the Greek bailout plan would cut the risk of a default. Other metals also advanced on Monday.

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