Nikkei up more than 1pc as Cyprus, EU agree rescue deal

Japan’s Nikkei share average rebounded on Monday after a sharp fall at the end of last week, as Cyprus and the European Union agreed to a plan to resolve the island’s financial crisis.

The Nikkei advanced 1.4 per cent to 12,506.94 after dropping 2.4 per cent in the previous session.

“Euro-related companies have a pretty good performance so far,” a Tokyo-based trader said.

“Our house view on Cyprus is that it will be difficult but it will be solved. The big picture is looking quite good, especially for Japan.”

via Business feed http://www.scmp.com/business/money/markets-investing/article/1199310/nikkei-more-1pc-cyprus-eu-agree-rescue-deal