World Shares Up Friday
TOKYO (AP) -- Share prices were higher early Friday in Europe after Wall Street's latest advance and a day of mixed trading in Asia. Most Asian markets were closed for lunar new year holidays.
KEEPING SCORE: Germany's DAX added 0.2 percent to 12,374.02 while the CAC 40 of France climbed 0.5 percent to 5,248.12. Britain's FTSE 100 jumped 0.6 percent to 7,277.58. Dow futures were up 0.4 percent to 25,328.00 while S&P 500 futures also added 0.4 percent to 2,743.70 --- auguring early gains on Wall Street.
ASIA'S DAY: Tokyo's Nikkei 225 index climbed 1.2 percent to 21,720.25 and the S&P ASX 200 in Australia slipped 0.1 percent to 5,904.00. India's Sensex lost 0.5 percent to 34,124.99 while shares were higher in Thailand.
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JAPAN CENTRAL BANK: As expected, the government proposed reappointing Haruhiko Kuroda as governor of the Bank of Japan. The decision underscores the government's commitment to its strategy of using huge monetary stimulus to support growth and fend off deflation. The appointment requires approval by parliament, which is certain since the ruling Liberal Democrats hold a majority in both houses.
CURRENCIES: The dollar sank to 105.89 yen from 106.12 yen, its lowest level in over a year. The euro rose to $1.2528 from $1.2506.
ANALYST'S VIEWPOINT: "Dovish or not the market cares little about central bank policy these days, while looking for any and all opportunities to hammer the dollar mercilessly. With very little chance of intervention at these levels, the Japanese yen bulls should continue to have their way near-term," Stephen Innes of OANDA said in a commentary.
U.S. INFLATION: The Labor Department said U.S. wholesale prices rose 0.4 percent in January, mainly due to a jump in energy prices. It was the biggest increase since November.
ENERGY: U.S. crude oil gained 44 cents to $61.78 a barrel in electronic trading on the New York Mercantile Exchange. It rose 74 cents, or 1.2 percent, to $61.34 a barrel in New York. Brent crude, used to price international oils, added 34 cents to $64.67 a barrel in London.
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