Market Buzz: Investors are optimistic about Europe

AFP Photo / Eric Piermont
Russian equities are likely to start the week on upbeat note, as investors are encouraged by strong data from Germany and are closely watching the Eurogroup’s meeting later Monday.

­Russian stocks closed in the black Friday amid a positive global background. The MICEX advanced 0.75% and the RTS rose 0.85%.

European stock markets climbed on Friday as Germany’s Ifo business sentiment index beat expectations with a rise to 101.4 in November, erasing concerns about a German slowdown. The Stoxx Europe 600 rose 0.6% for a fifth straight day. The German DAX 30 and France’s CAC 40 advanced 0.9%. EU finance ministers met again later that day to hammer out a plan to cut Greece’s debt.

US stocks rallied Friday, buoyed by strong economic data from Germany and China, while retailers enjoyed gains as customers hit the shops for Black Friday sales. The Dow Jones added 1.4%, while the S&P 500 gained 1.3% and the Nasdaq was up 1.4%, both supported by tech sector gains.

Asian stock markets traded slightly higher on Monday, boosted by Japanese equities, while investors also eyed an EU leaders’ meeting later in the afternoon. Japan’s Nikkei climbed 2.3% to its highest level since late April as investors tried to win back gains after a three-day weekend. Australia’s S&P/ASX 200 advanced 0.15%, while South Korea’s Kospi added 0.6%. In China, Hong Kong’s Hang Seng gained 0.8% and the Shanghai Composite traded flat.