Nikkei up 2.3 pct but off highs, eyes on stress tests

TOKYO, July 23 (BestGrowthStock) – Japan’s Nikkei average snapped a
five-day losing run on Friday to rise 2.3 percent for its
biggest one-day percentage gain in over a week, boosted by
short-covering amid optimism over the results of European bank
stress tests.

But investors remained nervous, and the benchmark pared its
gains slightly after a Spanish newspaper said several Spanish
savings banks had failed the stress tests. [ID:nLDE66M041]

The benchmark Nikkei (.N225: ) rose 210.08 points to 9,430.96
after earlier gaining as much as 2.7 percent, but rose only 0.2
percent on the week.

The broader Topix (.TOPX: ) climbed 1.9 percent to 841.29.

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Nikkei up 2.3 pct but off highs, eyes on stress tests