Market Buzz: Investors await positive news
Russian stocks are likely to trade flat on Thursday, with investors eyeing the European Central Bank as its chief Mario Draghi defines the bank’s interest rate policy.
Asian shares declined Thursday with Hong Kong’s banking among losers. Hong Kong’s Hang Seng lost 0.5%, while the Shanghai Composite fell 0.4%. South Korea’s Kospi slipped 0.3% and Australia’s S&P/ASX 200 shed 0.1% after closing at a fresh nine-month high Wednesday. Japanese bourses were closed until the end of the week for holidays.US stocks finished mostly lower Wednesday after ADP Employer Services reported companies added 119,000 jobs in April compared to 201,000 in March. The Dow Jones fell 0.1%, while the S&P 500 shed 0.3%. The Nasdaq Composite backed the trend, adding 0.3%.European shares dropped Wednesday after a report revealed unemployment in the eurozone grew to 10.9% in March hitting a euro-era high. A disappointing report on US employment also weighed down the indices. The Stoxx Europe 600 fell 0.4%, while German DAX 30 shed 0.75% and French CAC 40 climbed 0.42%. Russian shares closed lower on Wednesday amid negative statistics from the eurozone and the US, and declining oil prices. The MICEX dropped 1.86%, while the RTS lost 1.56%.