It seems that the new from the Europe has given the much needed push to the financial market as the Nikkei share average was seen edging up by 2%. There have been doubts whether France and Germany would be able to divert the possible debt crisis going on, but with the latest round of talks coming end to a positive note, expectations have raised that something better is stored in future.

With the kind of movement being experienced, there are speculations that Nikkei would try to move from 8,800 to 9,000 for the next few days. As per latest reports, Nikkei moved up to 8,773.68, the highest mark being attained since Sept 16.

Moreover, Sony was seen moving up by 5.7% to 1,496 yen while Honda moved up by 5.5% to 2,347 yen.

In response to the movement, Ryota Sakagami, chief strategist at SMBC Nikko Securities said: “Credit spreads (for banks) are still far from tight. It’s hard to expect the Nikkei to move above 9,000 and stay there. A fall below 8,500 is more likely”.

Post-seeing the turn of events in Europe, sentiments in the market are expected to take a new shift in the coming time. It’s largely expected that a comprehensive European bank package could heal the damage done in the market so far.