Overnight markets: Up

Asian shares rose for the first time in five days as exporters and commodity producers were buoyed by better than expected US economic data and signs that the European Union was examining ways to co-ordinate recapitalisations of its banks. The MSCI Asia Pacific index added 1.8 per cent with Japan’s Nikkei 225 stock Average up 1.6 per cent, South Korea’s Kospi Composite index jumping 3.5 per cent and Australia’s S&P/ASX 200 2.8 per cent higher. Hong Kong’s Hang Seng index jumped 4.3 per cent while mainland Chinese markets were closed for a week-long holiday.

While the technology world was rocked by news of the death of Steve Jobs, former chief executive of Apple, shares of smartphone makers rose on doubts about whether the US company can keep up with its innovative products.

Samsung Electronics, Apple’s closest rival, jumped 3.9 per cent while LG Electronics surged 7.6 per cent. HTC, another major rival of Apple, shot up 4.44 per cent while electronics company Hon Hai gained 1.92 per cent in Taipei. Hynix Semiconductor, the world’s second-largest memory chipmaker, climbed 6.25 per cent, boosted by a 3 per cent gain in the US Philadelphia semiconductor index. Sony, Japan’s electronics group, jumped 3.6 per cent in Tokyo while iPhone carriers Softbank and KDDI fell 1.2 per cent and 0.5 per cent respectively.

Asian markets
Nikkei 225 up +125.61 (+1.50%) at 8,509
Topix up +10.26 (+1.41%) at 736.51
Hang Seng up +700.96 (+4.31%) at 16,951

US markets
S&P 500 up +20.08 (+1.79%) at 1,144
DJIA up +131.24 (+1.21%) at 10,940
Nasdaq up +55.69 (+2.32%) at 2,461

European markets
Eurofirst 300 up +28.85 (+3.25%) at 916.62
FTSE100 up +157.73 (+3.19%) at 5,102
CAC 40 up +123.35 (+4.33%) at 2,974
Dax up +256.32 (+4.91%) at 5,473

Currencies
€/$ 1.33 (1.34)
$/¥ 76.73 (76.76)
£/$ 1.54 (1.55)

Commodities ($)
Brent Crude (ICE) down -0.33 at 102.40
Light Crude (Nymex) down -0.20 at 79.48
100 Oz Gold (Comex) up +3.20 at 1,644
Copper (Comex) unchanged 0.00 at 309.75

10-year government bond yields (%)
US 1.89
UK 2.36
Germany 1.84
Japan 0.98

CDS (closing levels)
Markit iTraxx SovX Western Europe -10.09bps at 339.73bp
Markit iTraxx Europe -10bps at 197.96bp
Markit iTraxx Xover -31.29bps at 843bp
Markit CDX IG -2.4bps at 145.06bp

Sources: FT, Bloomberg, Markit