Market Buzz: Indices enjoy the rally
The ECB is expected to cut its main refinancing rate to 0.75% in order to help European banks, which borrow from the ECB.
Russian markets closed in the black on Tuesday supported by growing commodities prices. The MICEX grew 2.47% and the RTS added 3.8%.
U.S. stocks closed higher on Tuesday after better than expected data on May factory orders. The Dow Jones and the S&P 500 both rose 0.6%, while the Nasdaq Composite was up 0.84%. US markets will be closed on Wednesday for Independence Day.
European markets traded in positive territory amid expectations of a further round of stimulus from global central banks. The Stoxx Europe 600 rose 1%, supported by commodities. The French CAC 40 added 1% and Germany’s DAX 30 rose 1.3%.
Asian stocks climbed Wednesday, spurred by broad gains for commodity firms and a sharp rise in energy shares after fresh tensions about Iran sparked a rally in oil prices. Australia’s S&P/ASX 200 added 1.1%, while Japan’s Nikkei Stock Average and South Korea’s Kospi both rose 0.3%. In China, the Shanghai Composite traded flat and Hong Kong’s Hang Seng added 0.2%.