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Market Buzz: Foreign growth moves Russian markets up

Published time: March 11, 2013 06:43
Reuters/Lucas Jackson

Reuters/Lucas Jackson

Russian stocks are likely to be directed by the foreign markets and the news flow from abroad. However Russian investors expect Monday’s session to start in the black, reacting to Friday's climb of international stock indices.

At the end of the last week Russian stocks failed to demonstrate a clear tendency. On Thursday Russian markets closed on about the same level as they opened.

The MICEX dropped by only 0.01%. The RTS demonstrated a slight growth by 0.18%.

TMK, Magnit, IDGC North Caucasus, RAO Energy System of East and telecom giant MTS led the growth on the Russian market. Inter RAO UES, Novatek, Akron, and metallurgical companies Severstal, MMK, NLMK, and Mechel finished in the red.

European markets that closed last week’s session on Friday, unlike the Russian stocks (which had a short week due to International Women’s Day), ended the week in the black.

British FTSE100 grew by 0.69%, German DAX added 0.59%, French CAC40 was up 1.22%.

US stocks also ended Friday’s session in the black. The Dow added 0.47%, the S&P 500 gained 0.45%, while the NASDAQ was up 0.38%.

Investors will be expecting news on the health of the eurozone’s largest economies later on Monday. Industrial Production data from France and Trade Balance data from Germany should give some direction to the markets.

Asian floors are showing mixed dynamics on Monday. Shanghai Composite is down 0.24%, while the Hang Seng has added 0.46% and the Nikkei is up 0.92%.

Oil quotations are currently lower. Brent has dropped by 0.30%, while Light is losing 0.16%.

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