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Market Buzz: Looking for positive drivers

Market Buzz: Looking for positive drivers
Russian markets are likely to prove sensitive to a weaker-than-expected Chinese imports report, while investors hope for positive news from an EU meeting later today.

Russian stocks traded flat Monday, with the MICEX closing at Friday’s level and the RTS declining 0.4%.

US stocks closed in the red Monday for the third day in a row amid renewed concern on the eurozone’s economic health. The Dow Jones shed 0.3%, while the S&P 500 declined 0.4% and the Nasdaq Composite was down 0.2%.

European trades ended lower Monday as investors were reluctant to make significant moves ahead of a meeting of eurozone finance ministers. The Stoxx Europe 600 closed 0.4% lower at 253.46. Spain’s IBEX 35 was among worst performers losing 0.75% after the yield on Spain’s 10-year bond hit 7.01%. The Greman DAX 30 shed 0.38% and the French CAC 40 lost 0.25%.

Most Asian stocks declined Tuesday after data showed China’s import growth slowed more than expected in June, while exports picked up. South Korea’s Kospi and Australia’s S&P/ASX 200 both lost 0.5%, while Japan’s Nikkei Stock Average shed 0.1%. In China Shanghai Composite fell 0.5% and Hong Kong’s Hang Seng eased 0.3%.

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