Russian stocks are likely to open higher on Thursday as investors digest Chinese consumer price data and watch the jobless report from the US.
Russian indices traded flat Wednesday amid a lack of drivers at home and abroad. The MICEX and the RTS both shed less than 0.1%.European markets ended a choppy session with a tiny rise Wednesday, as investors brushed off eurozone debt concerns. France's central bank said the country would slip into recession as GDP will fall 0.1% in the third quarter. The Bank of England has cut its forecasts for growth and inflation in the UK. The Stoxx Europe 600 closed 0.2% higher, while the French CAC 40 fell 0.4% and Britain’s FTSE was up0.1%.US stocks gained slightly Wednesday, with the Dow Jones and the S&P 500 both climbing less than 0.1%, while the Nasdaq fell 0.15%. McDonald's Corp reported flat same-store sales in July, signaling weaker demand. Meanwhile Macy’s Inc. shares gained amid better-than-expected income report.Asian shares traded higher Thursday, as weaker Chinese consumer price data renewed hopes for more monetary easing to support China’s economy. The data showed consumer prices increased 1.8% from the year-ago period, but slowed from the 2.2% jump in June. South Korea’s Kospi rose 1.9%, while Hong Kong’s Hang Seng was up 0.9%. Japan’s Nikkei climbed 1%, and Australia’s S&P/ASX 200 rose 0.3%. The Shanghai Composite itched 0.3% wining back early losses.