Market Buzz: Investors pin hopes on G20 summit
Russian stocks closed in the black on Monday after a morning rally on Greek election results. The RTS was up 0.8%, while the MICEX added 1%, despite falling oil prices.
U.S. stocks on Monday showed a mixed performance amid concern the Greek election has not advanced the eurozone debt problems towards a solution. The Dow Jones ended down 0.2%, while the S&P 500 rose 0.1% and the Nasdaq Composite added 0.8%.
European stocks closed mostly lower erasing gains in morning trading as investors turned their eyes from the victory for a pro-austerity party in Greece to Spain’s debt problems. The Stoxx Europe 600 index ended flat. Spanish IBEX 35 declined 2.96% as Spanish bond yields hit a euro-era high of 7.14%. The Italian FTSI MIB lost 2.85%. Meanwhile Greece’s Athens General Index jumped 3.6% on the election results.
Asia stock markets traded lower Tuesday amid fresh concern about Spain’s financial problems Japan’s Nikkei Stock Average and Australia’s S&P/ASX 200 both declined 0.3%, and South Korea’s Kospi traded flat. In China, Hong Kong’s Hang Seng Index lost 0.3% and the Shanghai Composite dropped 0.47%.