After last week’s announcements that both France and Germany’s economies have grown in recent months (and therefore come out of recession), today it was announced that Japan is the latest country to come out of recession.

For the last quarter, ie between the months of April and June, the Japanese economy grew by a very impressive 0.9%. However surprisingly enough this news didn’t lift the Nikkei at all. In fact the index actually finished the trading session down 329 points (or 3.10%) at 10,269.

It’s been a similar story in the rest of the world as well because the FTSE 100 is currently down 79 points to 4635 and the DAX and CAC 40 are now 97 and 80 points lower at 5212 and 3417 respectively.

In the US the markets have been open for around an hour now and the Dow Jones is 180 points lower at 9186 whilst the S&P 500 is 22 points lower at 982 and the Nasdaq is 46 points lower at 1938.

Finally the positive news about the Japanese economy has at least strengthened the yen because the GBP/JPY, EUR/JPY and USD/JPY are all trading lower as a result.

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Filed under: Market News

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