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7211 - Mitsubishi Motors News Story

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Consumer Cyclicals
Mid Cap
Market Cap £2.42bn
Enterprise Value £3.10bn
Revenue £14.22bn
Position in Universe 313th / 3863

Nikkei rises on virus drug hopes, auto stocks surge

Mon 13th July, 2020 4:44am
TOKYO, July 13 (Reuters) - Japanese shares rose on Monday,
tracking Wall Street's rally on Friday as a positive analysis on
a potential COVID-19 drug offset investor fears over a surge in
virus cases, while auto shares were lifted by upbeat industry
data from China.
    The benchmark Nikkei share average  .N225  gained 1.73% to
22,677.25 by the midday break, rebounding from a one-week low
hit on Friday.
    On the Nikkei index, there were 214 advancers against 10
    In the broader market, Topix  .TOPX  rose 2.02% to 1,566.15
by the recess, with all 33 sector sub-indexes on the Tokyo
exchange trading higher.
    U.S. stocks gained on Friday as Gilead Sciences Inc's
 GILD.O  antiviral remdesivir showed reduced risk of death in
severely ill COVID-19 patients, but clinical trials were needed
to confirm the benefit.*:nL4N2EH2TR
    The Nasdaq posted its sixth record closing high in seven
days, up 0.66%, while the Dow and the S&P 500 added 1.44% and
1.05%, respectively.
    Highly cyclical iron and steel  .ISTEL.T , mining  .IMING.T 
and airlines  .IAIRL.T  were the three top performers on the
main bourse.
    Japan's auto stocks performed strong, as the data by China
Association of Automobile Manufacturers showed the world's
biggest vehicle market expanded by 11.6% in June from a year
earlier and registered strong growth for a third consecutive
    Mazda Motor Corp  7261.T  spiked 8.44%, while Honda Motor Co
Ltd  7267.T  and Mitsubishi Motors Corp  7211.T  gained around
6.20% each.
    Bucking the overall gains, Yaskawa Electric Corp  6506.T 
dropped 2.07% following a 21.6% drop in March-May group
operating profit to 6.23 billion yen, that still beat its 4
billion yen forecast made in April.*:nXB06IER3T

 (Reporting by Eimi Yamamitsu; Editing by Shailesh Kuber)
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