Market Buzz: Investors await decisive action from central banks
Russian stocks jumped Tuesday supported by energy and resources shares. The MICEX added 1.8% and the RTS climbed 2.8%.
European shares climbed Tuesday amid reports that the European Central Bank is examining plans to cap bond yields. Besides that, Joerg Asmussen, a German member of the central bank’s executive board, voiced support for the bond purchases. The Stoxx Europe 600 rose 0.4%. The Italian FTSE MIB rose 2.4% and the Spanish IBEX 35 added 1%.
US stocks turned lower Tuesday as Apple’s drop overshadowed optimism that Europe would soon take steps to curb its debt crisis. Apple’s shares fell as the company failed to settle a potentially costly patent dispute with Samsung. The Dow Jones lost 0.5%, the S&P 500 slid 0.4% and the Nasdaq Composite fell 0.3%.
Asian stocks headed south Wednesday, weighed down by earnings reports and weak Japanese trade figures. Japan’s Nikkei traded down 0.3%, South Korea’s Kospi lost 0.7%, and Australia’s S&P/ASX 200 declined 0.15%. In China, Hong Kong’s Hang Seng fell 0.8%, while the Shanghai Composite shed 0.4%.