Asian stocks on the rise and the euro at a one-month high. This positive picture has been fueled by speculation that Spain may have access to financial aid. Better-than-expected results on the production and profit front of American industry also had a positive influence on the stock exchanges. Oil prices are also on the rise. Notably, the MSCI Asia Pacific index gained 0,7% as of 9:21 am in Tokyo, while the Standard & Poor's 500 futures index recovered 0,2 percent. The euro gained ground against 15 of the 16 major world currencies and was up 0,3% against the dollar at 1,3097 dollars. Oil rose 0,4% to $92,44 a barrel in New York.
The German Chancellor Angela Merkel he said Germans must contain their criticism of Greece and two top coalition politicians said the country was willing to open credit to Spain, showing a softening of German anti-aid rhetoric on the eve of a major summit European. New optimism also on the American front with industrial production data on the rise, while confidence in the construction sector is at its highest level in the last six years.
The Nikkei 225 Stock Average gained 0,9%, while Australia's S&P/ASX 200 Index added 0,8 percent. South Korea's Kospi Index advanced 0,7 percent. The yen fell 0,2% to 103,23 per euro, while the Australian dollar gained 0,4%. Finally, the New Zealand "kiwi" grew by 0,4% against the US dollar.
