BANGKOK, Oct 7 (Reuters) – Tokyo rubber futures rose 2.6 percent on Friday as firmness in stock markets and oil prices spurred buying, while easing concerns about Europe’s debt crisis provided additional support, dealers said.

FUNDAMENTAL
* The benchmark rubber contract on the Tokyo Commodity Exchange for March delivery <0#JRU:> was up 8.3 yen, or 2.6 percent, at 316.5 yen per kg as of 0011 GMT.
* Chinese markets are closed for a week-long national holiday.
* Oil prices jumped nearly 3 percent on Thursday, gaining for a second straight day as Europe moved closer to pumping aid to the region’s troubled banks and U.S. jobless benefit claims rose less than expected last week. [O/R]
* For the top stories in rubber market and other news, click [TOP/CE], [TOP/MACRO] [RUB/T] or [COM/WRAP]
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MARKET NEWS
* The Nikkei stock average climbed on Friday on hopes that a plan to support Europe’s financial sector is making progress, but gains will be limited ahead of a U.S. non-farm payrolls report later in the day. [.T]
* U.S. stocks rose for a third day in a row on Thursday as developing euro zone plans to backstop European banks gave investors hope the threat of a financial crisis was waning. [.N]
* Japanese automaker Nissan Motor Co, Ltd <7201.T> said it would invest 2.6 billion reais ($1.42 billion) to build a new factory in Brazil as it aims to triple its market share in Latin America’s largest economy by 2016. [ID:nN1E7950GE]

Source: Reuters

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