Business News

Nov 4, 2009, 6:22 GMT

Rising gold, oil prices help Tokyo stocks recover (Roundup)

Tokyo - After falling in morning trading, Tokyo stocks recovered Wednesday and closed with modest wins as higher gold and oil prices pushed up commodities stocks. Financial issues saw losses, however, and weighed on morning trading after the Swiss banking giant UBS AG reported a forth-consecutive quarterly loss. The Nikkei 225 Stock Average rose 41.36 points, or 0.42 per cent, to close at 9,844.31. The broader-based Topix index was also up 0.73 points, or 0.08 per cent, at 881.27. The gains were seen after the stock market was closed Tuesday for the Culture Day holiday. On currency markets at noon (0300 GMT), the dollar traded at 90.24-25 yen, up from Monday's quote of 89.96-97 yen in Tokyo but down from 90.28-38 yen late Tuesday in New York The euro traded at 1.4723-26 dollars, down from 1.4741-44 dollars Monday in Tokyo but up from 1.4719-29 dollars Tuesday in New York. It also traded at 132.85-92 yen, up from 132.60-70 yen in Tokyo and down from 132.99-133.09 in New York.

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