Nikkei bounces on Toyota gains

<p>The Toyota share price rose today.</p>

The Nikkei posted a strong gain during trading today (November 6th), with the index supported by the improvement in the share price of carmaker Toyota.

It rose by 0.8 per cent to end the day at 14,337.31, following on from the 0.2 per cent rise yesterday. However, it was not all plain sailing for the index, as it dropped as low as 14,130.86 earlier in the day, reports Reuters.

Toyota's share price slipped at first, but was able to recover later in the session and ended the day 0.5 per cent up. The firm had raised its operating profit forecast.

Fellow manufacturer Nissan was also among the gainers on the Nikkei today, with the stock erasing some of the heavy losses it stacked up yesterday.

Today's trading saw the Nissan share price rise by 2.8 per cent, cancelling out some of the 10.4 per cent loss it suffered after announcing a cut to its annual earnings guidance.

But Softbank Corp was down by over two per cent, causing a problem for the Nikkei index.

Learn about the Asian markets and CFD trading at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.