Russian markets declined the most in two weeks as crude oil, which accounts for about half of export revenue, retreated on decreased output.
The MICEX dropped 0.70 percent to 1,416.50, ending its run of
last week, when it gained 1.30 percent. The RTS closed at 1,422.29
and is has since retreated to 1,419.95 on Asian trading floors,
down 0.16 percent.
European market indices finished lower, with the exception of
London. The Euro Stoxx fell 0.28 percent, the French CAC fell 8.63
points, down to 3,945.20, but still boasts positive momentum. The
German DAX dipped slightly negative, down 0.01 percent. The UK FTSE
100 finished up at 6,631.76.
On Tuesday the ZEW Institute will release a report on German
economic sentiment, which will be a fair indicator of the state of
the economy. The eurozone will release official data on industrial
As the US exchange floors closed, there were mixed indices
results. The Dow Jones finished down by 0.18 percent, the S&P
500 saw some slight gains but ended only 0.07 points above its
opening price, remaining stagnant. The NASDAQ rose 0.06 percent. US
unemployment data was reassuring, and the Commerce Department
reported sales rose 0.1 percent in April. Optimism will likely
carry into Tuesday’s market, but markets will seriously consider
the official publication of import price data.
In Asian trading Tuesday, Japan’s Nikkei 225 added 0.20 percent
despite the yen’s weak performance against the dollar. Japan
reported a 0.30 percent rise in domestic corporate goods.
Positive news also came from China- retails sales increased by
12.80 percent in April, and many stocks benefited short-term.
Australia’s S&P/ASX 200 advanced 0.26 percent and the Hong
Kong Hang Seng rose 0.16 percent, but the New Zealand NZSE fell
0.12 percent and the Shanghai Composite slipped 0.66 percent.
Both WTI and Brent are trading stronger. WTI added 0.34 percent
to 95.49, and Brent is up 0.11 percent at 102.93.