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25

Japanese Stocks Rose on Oil Price Rise

Japanese stocks advanced for a third day, led by trading companies such as Mitsui & Co

Japanese stocks advanced for a third day, led by trading companies such as Mitsui & Co., after the price of oil climbed to a 10-month high and a brokerage gave the company its most bullish recommendation.

Oil advanced 1.6 percent to close above $70 a barrel last week. Mitsubishi UFJ Securities Co. initiated coverage of Mitsui with a "strong outperform'' rating, Bloomberg reported.

The Topix index added 5.48, or 0.3 percent, to 1780.36 at the close of trading in Tokyo, after dropping as much as 0.3 percent. About nine stocks rose for every seven that declined. The Nikkei 225 Stock Average rose 7.94 points to 18,146.30, reversing a decline of as much as 0.4 percent.