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Around the World's Markets: Tokyo

SONY LED Japanese stocks higher after it announced details of a major restructuring initiative. The electronics giant closed up by almost 9 per cent, helping to take the Nikkei 225 stock index up by 317.65 points to 15,096.70.

This was the first time the Nikkei had closed above 15,000 since 27 November last year. "It's a combination of themes - restructuring, a lower yen and lower interest rates - that have made the market start to look very interesting," said one analyst.