JPY Consumer Confidence 45.7 44.8 44.5

Nikkei soars after solid U.S. jobs, Asia shares steady

TOKYO | Mon Jun 10, 2013 5:17am BST

(Reuters) - Japanese shares rebounded strongly on Monday, tracking a rally in global equities, as U.S. jobs data was solid but not strong enough to spawn new worry about near-term tapering of the Federal Reserve's stimulus, while weak China data hit copper.

Markets regained some stability after high volatility the past two weeks. They had been hit by concerns the Fed will weaken a stimulus commitment that's boosted risk appetites, and then by speculation Friday's jobs data would disappoint and cause worries about the U.S. economy.

RBS and Lloyds stake sale 'should benefit taxpayer'

No-risk shares should be offered to millions of taxpayers when the government sells its stakes in RBS and Lloyds, according to a report.

The right-leaning think tank, Policy Exchange, is recommending that most of the state-owned bank shares are offered to all British residents at no initial cost.

The shares would only have to be paid for when they were sold.

If the price fell, the government would retain them and bear the loss.

The Treasury is widely expected to set out privatisation plans next week. It owns 81% of RBS and 39% of Lloyds after the banks were bailed out during the financial crisis.

Travis Perkins (TPK) and Persimmon (PSN) expected to replace Evraz (EVR) and Polymetal (POLY) in FTSE 100.....

China's economy stumbles in May, growth may fall in second quarter

BEIJING | Mon Jun 10, 2013 6:25am BST
(Reuters) - Risks are rising that China's economic growth will fall further in the second quarter and that full-year forecasts will be cut further, after weekend data showed weakness in May exports and domestic activity struggling to pick up.

Evidence has mounted in recent weeks that China's economic growth is fast losing momentum, but Premier Li Keqiang tried to strike a reassuring note, saying the economy was generally stable and that growth was within a "relatively high and reasonable range".

Nikkei jumps nearly 5 pct, marking best day since March 2011

Mon Jun 10, 2013 7:09am BST
TOKYO, June 10 (Reuters) - Japan's Nikkei average jumped 4.9
percent on Monday, marking its biggest one-day gain since March
2011, after U.S. jobs data eased growth concerns but was not
strong enough for the Federal Reserve to scale back its massive
stimulus.

Investors were also encouraged by data showing that Japan's
economy grew 1.0 percent in January-March, revised up slightly
from a preliminary estimate. The figures underscored a steady
recovery driven by a pickup in global growth and sweeping
stimulus policies by Prime Minister Shinzo Abe.

The Nikkei ended 636.67 points higher at 13,514.20,
moving further away from the bear market territory it hit last
week.

The broader Topix index climbed 5.2 percent to
1,111.97.

French Industrial Production m/m 2.2% 0.2% -0.6%

FTSE100 modestly lower, with the miners a major millstone

Any reason for POLY taking a caning other than market sentiment? The RNS out today didn't seem to be a negative one. That they are probably going to drop out of the Ftse may have a little bearing but didn't think it would impact that much. trying to decide whether to top up or am i catching a falling knife.[Rhetorical question]

GL

Alex

FTSE 100 slightly lower as weak miners hamper progress