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Market Buzz: On the wave of positive news

Market Buzz: On the wave of positive news
Russia’s stocks are expected to open higher on Monday amid stronger consumer data from the U.S., the European rescue fund deal and stable oil prices.

­Russian trades closed in the black on Friday after a week of decline. The MICEX and the RTS both grew 1.5%. Shares of VTB (+2.12%), Rosneft (+2.98%) and Mechel mining company (+2.3%) were among the best performers.

European stocks hiked on Friday after eurozone finance ministers agreed to increase the bailout fund by up to 800 billion euro. The pan-European Stoxx 600 rose 1%, while the French CAC 40 added 1.26% and Germany’s DAX 30 was up 1%. Data on the labor market in the eurozone will be published later on Monday.

U.S. markets on Friday showed the best performance since 1998 amid better-than-expected data in consumer confidence and spending, which grew 0.8%. The Dow Jones rose by 0.5% on Friday and the S&P 500 climbed 0.4%. Meanwhile the Nasdaq Composite opposed the trend and shed 0.1% with Apple shares dropping 1.7%.

Asian stocks traded in the black Monday at the start of the new quarter as China released a better-than-expected PMI data. Japan’s Nikkei Stock rose 0.8%, supported by the weaker yen, while the Australian S&P/ASX 200 and the South Korean Kospi both advanced 0.5%. However Hong Kong’s Hang Seng defied the trend, shedding 0.2% amid the weaker performance of property shares. China’s Shanghai market was shut for a public holiday.

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