European stocks lock in weekly gains as euro weakens

German and U.K. stocks led advances in European equity trade Friday, amid weakness in the euro and the pound against the dollar. For the week, the pan-Europe benchmark posted a gain amid a raft of corporate quarterly results.

Germany’s DAX 30 index rose 0.6% to close at 12,580.87, while the U.K.’ FTSE 100 added 1.1% to 7,502.21.

France’s CAC 40 index tacked on 0.5% to reach 5,483.19.

The Stoxx Europe 600 index gained 0.2% to 384.65, rising 0.7% for the week. That marked a fifth straight winning week.

The euro dropped to $ 1.2082, from $ 1.2104 late Thursday in New York. The euro fell below $ 1.22 on Thursday after the European Central Bank held benchmark interest rates steady as expected.

The pound fell to a more than seven-week low at $ 1.3786 after a disappointing reading on U.K. economic growth, down from $ 1.3915 late Thursday in New York.

German and U.K. equities marched higher as the euro and the pound fell. Their stock benchmarks are heavily weighted with exporters and multinational companies, and currency weakness can bolster earnings and revenue for those companies.

Source: Marketwatch

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Tokyo shares open flat as business confidence weakens

Tokyo stocks opened nearly flat on Monday as fresh data indicated Japan’s corporate sentiment weakened, although the business climate in general is seen remaining solid.

The benchmark Nikkei 225 index slipped 0.07 percent or 14.29 points to 21,440.01 shortly after the opening bell, while the broader Topix index was up 0.08 percent or 1.29 points at 1,717.59.

Source: AFP

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Japan Shares Rise as Yen Weakens Amid Optimism Over U.S. Economy

Japanese shares rose as the yen remained weaker after a jobs report Friday spurred optimism about the U.S. economy.

Electronics companies and automakers were the biggest boosts to the benchmark Topix gauge after the S&P 500 Index rallied 1.7 percent on Friday as U.S. payrolls data assured investors that the American economy continued to strengthen without the prior month’s rapid wage gains that stoked inflation fears. Ten stocks rose for every one that fell.

The U.S. added 313,000 jobs in February, beating an estimate for 205,000. Wage data showed that average hourly earnings increased 2.6 percent from a year earlier, missing the estimate for 2.8 percent.

Topix index +1.5% to 1,741.20 as of 9:13 a.m. in Tokyo. Nikkei 225 index +2.1% at 21,916.81.

Yen little changed at 106.86 per dollar after weakening 0.7% in previous two days.

Source : Bloomberg

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