Stocks have dipped on Japan's Nikkei during trading today (October 25th) as the yen strengthened and the dollar came close to a two-year low versus the euro.
According to Reuters, the fall of the Japanese index is expected to have a knock-on effect on European markets over the course of Friday.
It ended 2.75 per cent lower on 14,088.19 points, with KDDI Group seeing the biggest fall, shedding 5.34 per cent to end on 4,960 yen. Only five firms ended the day in positive territory – with Mitsubishi Motors among them – while four saw their share price remain unchanged.
Research by Thomson Reuters StarMine shows 70 per cent out of the ten Nikkei-listed companies that have posted their quarterly earnings so far in Q3 have missed market expectations, up from 42 per cent in the second quarter of the financial year.
On the currency markets, the euro climbed 0.1 per cent to $1.3815, as its US counterpart came under pressure amid expectations economic stimulus in the US will continue into next year.
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