Market Buzz: Investors bearish on news from Asia
Russian markets are likely to open in the black Monday on positive news from Asia and continued budget talks in the US.
Russian stocks closed a week at the positive territory amid growing oil prices. The MICEX added 1.2% and the RTS rallied 1.4% on Friday. US equities traded flat Friday as policy makers continued talks on how to deal with fiscal cliff of spending cuts and tax hikes due in early 2013. The Dow Jones and the S&P 500 rose less than 0.1%, while the Nasdaq Composite fell less than 0.1%.European stock markets moved slightly lower Friday after Germany approved the new bailout tranche for Greece, while worries over the US fiscal cliff dented sentiment. The Stoxx Europe 600 fell 0.2%. France's CAC 40 shed 0.3% to 3,570.73, while Germany's DAX 30 rose less than 0.1%.Asia’s major stock markets advanced Monday, after data showed that China’s manufacturing sector expanded in November. Japan’s Nikkei Stock Average added 0.6% with industrial firms among the advancers. Australia’s S&P/ASX 200 gained 0.5%, while South Korea’s Kospi rose 0.4%. However, Hong Kong’s Hang Seng inched just 0.15%, while the Shanghai Composite Index erased early gains and traded 0.3% lower.
