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Nikkei rises 0.7 pct after Wall Street recovers

Written by: Staff

TOKYO, July 7 (Reuters) The Nikkei average rose 0.71 percent on Friday as Toyota Motor Corp. rose together with other auto makers after a rebound in U.S. stocks restored some confidence in the sector.

But Softbank Corp. fell more than 6 percent after a broker gave the company a ''sell'' rating, and consumer finance companies added to their recent losses following recommendations by a ruling Liberal Democratic Party advisory group to slash the maximum interest rate they can charge borrowers.

The Nikkei was up 108.58 points at 15,429.98 after falling 317 points in the previous two sessions.

The broader TOPIX index was up 0.7 percent at 1,583.34.


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