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The Nikkei average rose 2.2 percent on Friday, led by exporters such as Canon Inc (7751.T: Quote, Profile, Research, Stock Buzz) as surprisingly strong U.S. GDP data helped soothe concerns about the health of the world’s biggest economy.

* Crude rises $1 on Gustav threat to Gulf of Mexico * U.S. dollar set for biggest monthly rise since Jan. 1997 * Japan’s Nikkei jumps 2 pct after solid U.S. GDP revision (Repeats to additional subscribers with no change to text) Asia stocks rallied on Friday, led by industrial companies and exporters, after a big upward revision to second quarter U.S.

South Korean brokerage Woori Investment & Securities said on Friday it was looking at about 20 European investment banks for a potential stake purchase or acquisition worth less than 2 trillion won ($1.84 billion). European banks are seen as less vulnerable to the subprime mortgage meltdown than their U.S.

Mazda Motor Corp (7261.T: Quote, Profile, Research, Stock Buzz) halved its sales forecast at one of its two Chinese joint ventures on Friday in one of the first signs that a demand slowdown in the world’s second-biggest car market is affecting automakers’ plans.

Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz), the biggest U.S. mortgage finance company, on Wednesday announced a shake-up of top executives, including the exit of its chief financial officer, in an effort to better implement a plan to preserve capital and cut losses.

Stocks rose on Wednesday as surprisingly strong data on durable goods orders soothed some concern about the sluggish economy while Fannie Mae and Freddie Mac led a rally in financial shares. Energy shares gained with higher oil prices, which rose for the third straight day on fears that Tropical Storm Gustav could interrupt oil and natural gas output in the Gulf of Mexico.

The Nikkei average edged up 0.1 percent on Thursday, with copier maker Ricoh Co Ltd (7752.T: Quote, Profile, Research, Stock Buzz) gaining sharply on a plan to acquire a U.S. office equipment distributor.

* Hillary Clinton plays major role in approving Obama * Obama “ready to be president,” says Bill Clinton * Biden to be nominated, speak To shouts of “Yes we can,” Democrats nominated Barack Obama on Wednesday as their presidential candidate in a historic first for a black American, backed by his ex-rivals Bill and Hillary Clinton.

Steelmaker ArcelorMittal’s (ISPA.AS: Quote, Profile, Research, Stock Buzz) (MT.N: Quote, Profile, Research, Stock Buzz) U.S. unionized employees voted in favor of a strike authorization on Wednesday, according to a statement from the United Steelworkers (USW).

It would be nice if the market would post a sign and tell us where it’s headed, but if that were the case then trading wouldn’t be so lucrative when we’re right. Good trading doesn’t have to be about nailing every move, contrary to what many believe.