Market Buzz: Eyes peeled on US jobs
Russian markets are expected to open lower on Friday amid a mildly negative background while investors wait for the US government’s monthly jobs report.
Russian trades closed in the red Thursday as the MICEX fell 0.23% and the RTS shed 0.57%. Preferred shares in Sberbank (+2.64%) and OGK-2 energy company (+2.08%) performed well, while shares of Avtovaz car maker fell sharply (-7.08%) as it become clear the deal with Renault-Nissan will be completed only by 2014.
US markets closed lower Thursday as investors were a cautious stance a day ahead of the government’s monthly jobs report. Also the report of the US Institute for Supply Management said activity in the US.services sector dropped to 53.5% in April, the lowest level since December. The Dow Jones shed 0.5%, while the S&P 500 fell 0.8% and the Nasdaq Composite declined 1.2%.
European stocks slightly climbed Thursday after European Central Bank President Mario Draghi left interest rate unchanged, but offered no hint further monetary easing. Italian banking shares, however, fell sharply as it become clear ECB will not offer any help. The Stoxx Europe 600 closed 0.1% higher, while Italian FTSE MIB index declined 0.67%.
Asian markets declined Friday with energy shares among worst hit by dropping crude prices. Crude for June delivery fell $2.68, or 2.6%, to $102.54 a barrel, the lowest level in two weeks. South Korea’s Kospi was down 0.5%, while Australia’s S&P/ASX 200 shed 0.6%. Hong Kong’s Hang Seng fell 0.7% and the Shanghai Composite slipped 0.1%. Japanese markets remained closed for a holiday.
