Nikkei falls on Greece concerns; Nissan climbs after lifting guidance

lunes 9 de febrero de 2015 22:23 GYT
 

* Nissan rises to 2-month high on earnings outlook,
brokerage's target hike
    * Rubber makers fall as oil prices rise

    By Ayai Tomisawa
    TOKYO, Feb 10 (Reuters) - Japan's Nikkei share average fell
on Tuesday morning as Greece's rejection of its bailout terms
fuelled concerns over the prospect of fresh turmoil in the euro
zone, but Nissan Motor Co outperformed on rosy
forecasts.  
    The Nikkei fell 0.7 percent to 17,589.35 in
mid-morning trade after rising 0.4 percent on Monday.
    Greece's Prime Minister Alexis Tsipras ruled out any
extension of its international bailout on Sunday and announced
moves to reverse some of the reforms imposed by its lenders.
 
    "Investors are risk averse because of the Greece situation,"
said Shigemitsu Tsuruta, senior strategist at SMBC Friend
Securities.
    But he added that losses should be limited as companies such
as Nissan which impressed the market with good earnings and high
dividend yields are in demand. 
    Nissan soared 4.4 percent to a two-month high of 1,111 yen
after it raised its profit forecast for what is already set to
be its best year since 2008. 
    Nomura Securities raised the automaker's target price to
1,500 yen from 1,400 yen, maintaining a 'buy' rating.
    Nissan's dividend yield stands at 2.98 percent, versus the
Nikkei average yield of 1.45 percent.
    After the market's two-day gains, 23 out of Topix's 33
subsectors are in negative territory on Tuesday. As oil prices
rose, rubber makers underperformed, with Bridgestone Corp
 and Yohohama Rubber Co both falling 1.2
percent.
    Oil jumped for a third straight session on Monday as OPEC
forecast greater demand for crude this year than previously
thought and projected reduced supply from countries outside the
producer group. 
    Exporters were weaker as the dollar eased to 118.54,
giving back about a third of Friday's 1.4 percent rally to
119.23.
    Advantest Corp dropped 2.3 percent and Panasonic
Corp shed 0.6 percent.
    The broader Topix dropped 0.3 percent to 1,420.63
and the JPX-Nikkei Index 400 also fell 0.3 percent
to 12,873.27.

 (Editing by Eric Meijer)