Market Buzz: Investors in a holding pattern
Russian stocks will likely open flat Tuesday as investors wait for earnings reports by major companies, as well as the results of a US Federal Reserve’s meeting later in the day.
Russian markets traded mixed Monday, as the MICEX shed 0.2% and the RTS gained 0.25% amid climbing oil prices. Russian oil giant Rosneft was among the gainers after it agreed to buy BP’s 50% stake in TNK-BP.European stocks nosed down Monday as investors digested early losses on US floors. The Stoxx Europe 600 fell 0.4%. The French CAC 40 fell 0.6% and the German DAX 30 lost 0.7%. Trading in Greece bucked this trend, with the Athens General Index jumping 2.7%. US markets closed slightly higher Monday following a choppy session, as strong earnings reports in the tech sector cheered investors. The S&P 500 added less than a point, the Dow Jones gained less than 0.1% to finish in the black and the Nasdaq rose 0.4%. An earnings report from Facebook is due later Tuesday.Asian stocks traded mostly lower on Tuesday amid worries on global growth, with commodities among the decliners. Japan’s Nikkei lost 0.25% and the Shanghai Composite shed 0.6%. South Korea’s Kospi declined 0.2%, weighed down by steel manufacturers. Australia’s S&P/ASX 200 gained 0.1% and Hong Kong markets were closed for a holiday.
