London and Tokyo up in second week’s trading

The London and Japanese markets were both higher on Tuesday.

In London, the FTSE 100 saw the largest one-day rise in one of it’s listed stocks in 10 months when Allied Domecq.

Allied’s stock jumped 17.9 percent on the strength of it’s confirmation of rumored talks between the maker of Beefeater gin and Stolichnaya vodka and French and American spirits makers.

Other makers of spirits also saw their shares rise on the day. Pharmaceuticals were also up in London.

The Japanese market, meanwhile, advanced on the strength of a stronger dollar against the yen.

The biggest beneficiaries of this seemed to be car manufacturing, with Toyota, Honda, and Nissan all advancing on the day.

Technology stocks were also up, including advances by Cannon, Matsushita, and Hitachi. Some pharmaceutical, energy, and entertainment stocks were also up.

Japan Tobacco, the world’s third largest tobacco company, was down however as it denied reports that Petro, a Russian subsidiary, had its bank accounts frozen in a tax dispute. Fuji Photo Film was also down Tuesday.

Story link: London and Tokyo up in second week’s trading