Market Buzz: Russian shares to fall on crude oil
Optimism from foreign markets will not transfer onto Russian trading floors, as Russia's main export, crude, continues to fall.
April 11 was a brutal day for Russian markets, with the MICEX
index dropping 1.7% to 1,401.73 by market close, the lowest since
November 29. The RTS fell by 1.43%, likewise in negative
territory.
Crude oil – Russia’s largest export – also retreated yesterday.
Russia’s biggest natural gas exporter Gazprom fell 2% to 126.80
rubles. Rosneft fell 1.6% just before market close to 222.22
rubles, hitting its lowest midday trading level since October
23.
The ruble has gained slightly against the dollar, trading at
30.86.
Today, Norilsk Nickel will release their 2012 financial statement,
which Russian traders will eye closely. Russian company MMK will
also publish its 2012 financial after a weak Q4 performance.
European markets fared much better than their Russian counterparts,
closing in the black. UK stocks soared for the fourth day in a row
with the FTSE 100 climbing 28.77 points to 6,416.14 at London
close. The German DAX closed at 7,810.63, gaining 0.78%, and the
Spanish IBEX closed at 8,136, up 23.10 points, and is still trading
well on Asian floors, up 0.28%.
US markets saw slight gains. After a record high performance on
April 10, American indices continued their upward trajectory: The
Dow is up 0.09% to 31.86, the NASDAQ Composite rose 0.09% and the
S&P 500 performed well, up 5.64 points to 1,593.37.
The most highly anticipated market news from the US today will be
the publication of macroeconomic data at 16:30 MSK.
Asian stocks reached a 20-month low as the yen strengthened against
the dollar. Following the Bank of Japan’s aggressive new stimulus
plan, the dollar is now approaching the 100-yen mark. Japan’s TPX
index dropped 1.03 points, its first decline in eight days. Hong
Kong’s Hang Seng Index has risen 0.08%, Japan’s Nikkei is down
0.71% and the Shanghai Composite has decreased 0.26%.
Both crude and light oil are down. Brent is at 104.17, down 0.03%,
and WTI is at $93.16 per barrel, down 0.31%.
