US and Japan forge ahead

OVERSEAS markets open on Easter Monday kicked off the week in a bullish mood.

On Wall Street the blue-chip Dow Jones index jumped 84 points by early afternoon, following more hopeful signs from Iraq. It closed up 73.6 points at 10,515.6. Investors are also betting on positive company earnings from the first quarter. Some 70 big companies will report this week.

The technology-heavy Nasdaq edged up slightly, keeping its head just above the 2,000 level that is providing psychological support.

Microsoft rose after settling yet another legal battle, paying £240m to privately held rival InterTrust to license its antitunnel-piracy software and resolve a three-year dispute. Beleaguered Disney fell 2% after its latest $100m blockbuster The Alamo opened poorly.

Japan's Nikkei index shrugged off last week's Iraq-related jitters and jumped 145 points to 12,043 - its highest level since August 2001.

The economic recovery continues - with soaring exports, most notably to China, boosted last month's trade surplus 46%. Foreign investors are proving record buyers of Japanese shares.

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