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Reply #28: Nikkei builds on last week's gains, Italy eyed [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-05-11 07:24 AM
Response to Reply #14
28. Nikkei builds on last week's gains, Italy eyed
http://www.reuters.com/article/2011/12/05/markets-japan...

TOKYO, Dec 5 (Reuters) - The Nikkei stock average
edged higher on Monday to build on last week's hefty gains,
helped by improved sentiment towards the European debt crisis
although uncertainty about how markets will assess Italy's new
austerity plan capped the upside.
In Europe, Italy's Prime Minister Mario Monti is set to
present his 30 billion euro austerity package to parliament on
Monday, as French and German leaders meet in Paris to hammer out
a proposal for further fiscal integration across the currency
bloc.
"On the face of it, the Italy news doesn't seem bad for
markets, but Japanese investors need to see the reaction of
European and U.S. markets to the plan before they can confirm
that it's good news," said Masayoshi Okamoto, head of dealing at
Jujiya Securities.
"The 30 billion euro amount, is it too much, too little, or
just right? We need to see what the market thinks of it," he
added.
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