Nikkei 225 breaks 10k barrier on Osama bin Laden "optimism"

Spread betting and CFD trading provider City Index look at the effect of Osama bin Laden’s death on the Nikkei 225.
By: City Index
 
May 4, 2011 - PRLog -- The news that Osama bin Laden, leader of al-Qaeda, was found and killed by US troops in Pakistan has helped to rally the Nikkei 225.

Indeed, yesterday (May 2nd) the premier stock index in Japan closed on 10,004.20 points, the first time it has done so since the country's earthquake on March 11th, with Reuters revealing that a potential Wall Street rally led to "optimism" among investors.

Such a boost to the Nikkei 225 resulted in it advancing by 1.57 per cent, although the news resource also attributed the rise to strong earnings reports from Caterpillar.

Sony also helped to lift stocks after it announced that following the hacking of personal details on its Playstation Network, services can this week resume.

Its share price advanced by 2.47 per cent on the Tokyo Stock Exchange after the news.

However, the organisation has since revealed today that hackers may have stolen Sony Online Entertainment customer details, potentially affecting 24.6 million accounts.

Japan is enjoying a Golden Week holiday from today until Thursday, so investors could see how Sony's share price responds on the New York Stock Exchange.

To get the latest spread betting (http://www.cityindex.co.uk/spread-betting/) and CFD trading (http://www.cityindex.co.uk/cfd-trading/) news from City Index, visit: http://www.cityindex.co.uk/market-analysis/

Spread betting (http://www.cityindex.co.uk/spread-betting/what-is-spread-betting.aspx) and CFD trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.

About City Index:

Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform (http://www.cityindex.co.uk/trading-platform/).

As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, CFDs and, in the UK, spread betting.

We constantly look to improve the performance of our platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support. For more information, visit http://www.cityindex.co.uk/.

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As a group, City Index transacts in excess of 1.5 million trades every month in over 50 countries worldwide. We provide a wide range of instruments including forex, CFD trading and spread betting. For more information, visit http://www.cityindex.co.uk/.
End
Source:City Index
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