American depositary receipts of Toyota Motor Corp., a Japanese carmaker that gets about 70 percent of its sales overseas, rose 1.6 percent from the closing share price in Tokyo. Those of Canon Inc., a camera maker that depends on Europe for almost a third of its sales, gained 1.3 percent. Westpac Banking Corp. rose 0.9 percent and led financial stocks higher in Sydney after Bank of America Corp., the second-largest U.S. lender, swung to a fourth-quarter profit.
Futures on Japan’s Nikkei 225 Stock Average expiring in March closed at 8,715 in Chicago yesterday, up from 8,650 in Osaka, Japan. They were bid in the pre-market at 8,710 in Osaka at 8:05 a.m. local time. Australia’s S&P/ASX 200 Index gained 0.7 percent today. New Zealand’s NZX 50 Index rose 0.2 percent in Wellington.
“The European government bond auctions are going well and investors are starting to reverse their risk-avoidance stances globally,” said Juichi Wako, a senior strategist at Tokyo-based Nomura Holdings Inc. “Money is centering into the U.S., where the fundamentals are good, and then is spreading out to the world.”
Futures on the Standard & Poor’s 500 Index were little changed today. The index advanced 0.5 percent in New York yesterday as optimism about company earnings was boosted when Bank of America reported it swung to a profit. A government report showed initial jobless-benefit claims plunged by 50,000 to 352,000 in the week ended Jan. 14, the lowest level since April 2008 and less than economists estimated.
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