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Market Buzz: Crude misgivings

Market Buzz: Crude misgivings
Russian markets are likely to prove sensitive to volatility on the global oil market and the upcoming economic data from the eurozone.

­Russian equities showed mixed performance Friday with the MICEX shedding 0.2% and the RTS gaining 0.4%. Investors were concerned with Saudi Arabian plans to boost oil production as it could result a decline in oil prices.

European stock markets advanced Friday, boosted by banks and pharmaceuticals, while speculation that Spain is considering making a bailout request also supported the indices. The Stoxx Europe 600 added 0.5%. Spain’s IBEX 35 rallied 2.6%, with the country’s largest lender Banco Stander up 3.6%. Germany’s DAX 30 closed up 0.8% and the French CAC 40 added 0.6%.

US stocks finished flat on Friday, amid weaker economic data and the Middle East tensions. The Dow Jones fell 0.1%, the S&P 500 declined less than 0.1% and the Nasdaq climbed 0.1, bolstered by shares of Apple, up 0.2%.

Asian shares retreated Monday, with commodity firms showing weak performance, while some Japanese stocks suffered amid growing tensions with China. Japan’s Nikkei lost 0.5%, while South Korea’s Kospi fell 0.2%. Australia’s S&P/ASX 200 declined 0.5%, pushed down by the metals sector. Hong Kong’s Hang Seng traded flat, while the Shanghai Composite bucked the trend and advanced 0.3%.

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