Market Buzz: Struggle for growth
“At this point we see a correction in foreign markets, so there's a high probability for Russian markets to continue their downtrend,” said Alexander Baibakin From Nettrader.
Russian stocks closed in the black on Monday after a choppy session amid news that the Government is going to approve a privatization plan in the next few weeks. The MICEX grew 0.89% and the RTS added 0.52%.
The U.S. stocks saw the worst session in a month as investors reacted to the nonfarm-payrolls report for March, showing companies added 120,000 jobs instead of 200,000 for the first time since November.
The Dow Jones closed down 1%, while the S&P 500 and the Nasdaq Composite both fell 1.1%. AOL Inc. shares jumped 43% as the company announced plans sell more than 800 of its patents and applications to Microsoft Corp.
European markets have been closed since Thursday due to the extended Easter holiday weekend. The data on Germany’s trade balance, exports and imports is expected later on Tuesday.
Asia markets traded mostly lower on Tuesday after a weak U.S. jobs report, though Japanese and South Korean stocks didn’t prove sensitive to the news from the US. Hong Kong’s Hang Seng lost 0.9% and Shanghai Composite shed 0.3%, while Australia’s S&P/ASX 200 dropped 0.7% as trading started after the Easter holidays. Meanwhile Japan’s Nikkei Stock Average gained 0.8%, South Korea’s Kospi added 0.5%.