Asia Stocks and Copper Up on Japan GDP, Europe Leadership Changes

Asian stocks rose the most in a week and copper climbed after Japan’s economy grew for the first time in a year and the appointment of new governments in Greece and Italy damped concern Europe’s debt crisis will worsen.The MSCI Asia Pacific Index climbed 1.4 percent as of 1:03 p.m. in Tokyo, after losing 2.4 percent last week. Standard & Poor’s 500 Index futures increased 0.6 percent. The Nikkei 225 Stock Average gained 1.1 percent, poised for the biggest advance in a week. Copper rose as much as 3.9 percent. The euro strengthened 0.2 percent to $1.3774. Treasuries retreated after U.S. financial markets were closed on Nov. 11 for a holiday.“The situation in Greece has dramatically improved with the appointment of a unity government out there, and Italy looks like it’s getting close to a resolution,” said Angus Gluskie, who manages more than $350 million at White Funds Management in Sydney. “Two of the largest concerns of the market are being partially taken off the table.”

Read the rest of the story: Asia Stocks, Copper Rise on Japan GDP, Europe Leadership Changes.

Leave a Reply

Your email address will not be published.