In Tokyo on Monday, the Topix index had its highest close since July 2001 as it gained 0.3 percent to 1,248.77. Meanwhile, the Nikkei 225 lost 0.1 percent on the day to a closing level of 12,256.55.

Still, the Nikkei was not far from the four-year high it reached last week. Commodity producers were up due to higher market prices and strong demand.

Nippon Steel was up after it said it would spend money on new equipment made necessary by growing demand, gaining 2.7 percent to ¥301. Tokyo Steel Manufacturing was also up, by 1 percent to ¥1,476. Rising copper prices led to gains by companies with interests in copper.

Mitsubishi Materials, for example, gained 3.1 percent to ¥329. Oil prices, up to record highs at the end of last week, helped the oil sector to gains. AOC holdings was up 1.2 percent to ¥2,020. Nippon Mining, with interests in both oil and copper, also saw a gain, adding 2.5 percent to ¥740.

The banking and securities sector continued to do well on new optimizing about growth in the Japanese economy. Brokerage firm Nomura was up 0.7 percent to ¥1,486.

Automobile manufacturers, however, were down on the day after Friday’s news of dips in US consumer sentiment. Honda lost 2.1 percent to ¥5,640 and Toyota declined by 1.1 percent to ¥4,330.

The Tokyo equities markets were mixed on very little movement on Friday, as the Nikkei 225 closed down just 0.1 percent to 12,261.68 and the Topic gained 0.11 percent to close at 1,245.13.

The volume of shares traded hit a comparatively high 1.9 billion shares. Advances in the financial sector were balanced by losses by exporters and oil-related companies. The banking and securities sectors both saw gains on the day.

Equities broker Nomura Securities was up 1 percent to ¥1,475, while Nikko Cordial led gains in the sector when it added 1.3 percent to ¥549.

In the banking sector, Sumitomo Mitsui Financial group gained 3.1 percent to ¥837,000, MTFG was up 2 percent to ¥1,030,000, and Mizuho Financial Group gained 1.5 percent to ¥539,000.

Exporters, however, fell on the day. Honda and Canon, both of which sell nearly 75 percent of their goods in foreign markets, both lost 0.5 percent on the day, with Honda closing at ¥5,750 and Canon finishing up the day at ¥5,470. Sony, also highly dependent on foreign sales, lost 1.8 percent to ¥3,370.

In the oil sector, profit taking sent shares down and the sector as a whole lost 0.5 percent on the day. Inpex, the oil and gas explorer lost 2.9 percent on Friday to ¥826,000 after gains of 12 percent over the past two days.

In London on Friday, the FTSE 100 fell 0.2 percent to 5,345.8, but it saw a gain on the week of 0.6 percent. Meanwhile, the FTSE 250 gained 0.1 percent on Friday to close at 7,705.8, notching an 0.3 percent gain on the week. Trade volume for the day reached 2.4 billion shares.

Mobile phone group O2 traded 130 million shares on the day, gaining 2.8 percent to a record high of 149 ½p on rumors that a consortium might offer 175p to 180p per share for the company. Rumors of takeover bids have centered on Dutch group KPN, Telefonica, and Deutsche Telekom, but all the named companies have disavowed the reports.

British Airways lost 0.8 percent to 290p on their need to cancel flights due to a dispute with contractors at Heathrow airport.

Oil shares fell despite continuing advances in the price of crude oil. Royal Dutch Shell “B” shares declined by 1.1 percent to £19.23. Meanwhile, oil exploration company Burren Energy lost 7.5 percent to 756 ½p on the news that it has agreed to reduce its stake in the M’Boundi oil field and exploration rights to the Kouilou permit are in the Congo, trading 10 percent of its 35 percent interest in the concern to SNPC, the state-owned oil company in the Congo, for $35 million. Oriel Securities cut Burren’s rating to “reduce” on the appearance that SNPC was getting the concession at a discount.

Fund manager Schroders gained 2.3 percent to 898.5p on reports that it will raise over $370 million in association with China’s Bank of Communications for the first fund of their joint venture in asset management.