On Thursday Russian floors opened significantly lower, following the negative trend on foreign floors and concerns over global stimulus. Russian indices are rewriting this year’s lows in Thursday morning’s trade.
Both key Russian indicators slipped below the psychological mark
of 1,300 points, with the MICEX having slid 1.92 percent in early
trade to 1267.17 and the RTS also sharply lower by 1.67 percent,
trading at 1243.26.
On Tuesday the trading session ended lower for Russian shares.
The MICEX dropped sharply losing 2.54 percent while the RTS also
ended 2.9 percent lower.
The negative dynamics were mostly due to the downgrade movement
on the raw materials markets and also escalating concerns over
Federal Reserve’s monetary policy.
On Wednesday June 12 Russian floors were closed for a national
Most European stock markets ended Wednesday with losses amid
growing concerns over global stimulus and with investors
digesting the release of a batch of economic data.
London’s FTSE 100 index ended the day 0.64 percent lower at
6,299.45 points, the DAX 30 in Frankfurt slid 0.96 percent to
close at 8,143.27 and Paris’ CAC 40 dropped 0.44 percent to
3,793.7, falling under the 3,800 mark for the first time since
Wednesday’s decline followed Tuesday’s lower close of the
European stocks, on growing investors’ concerns that major
central banks would start pulling out their stimulus efforts that
have been helping the markets in 2013.
On Thursday June 13 the European Central Bank will publish its
monthly bulletin. Italy will hold an auction of 10-year
government bonds. Switzerland will release official data on
producer price inflation, a leading indicator of consumer
In the US stocks also closed lower on Wednesday, with the Dow
Jones Industrial Average having closed down 0.8 percent, at
14,995.23. The S&P 500 dropped 0.8 percent, to 1,612.52. The
tech-rich NASDAQ Composite fell 1.1 percent, to 3,400.43.
On Thursday the US will release official data on retail sales and
consumer spending update. Canada is to release official data on
new house price inflation.
Uncertainty over the Fed’s monetary policy also dragged Asian
stocks down on Thursday. In Japan the Nikkei lost 6.4 percent as
a strengthening yen hurt exporters. The Nikkei ended down more
than 840 points at 12,445.38, its lowest level since early April.
Mainland China’s Shanghai Composite lost 3.3 percent after the
markets reopened after long holidays, as investors reacted to the
downbeat economic data released over the weekend, including the
monthly trade and inflation figures.
In Hong Kong the Hang Seng Index slipped 3.1 percent, and South
Korea’s Kospi lost 0.9 percent.
Australia’s S&P/ASX 200 fell 1.1 percent, having dropped more
than 10 percent from the highs reached in May.
Oil is currently trading lower with Brent crude losing 0.4
percent to $103.1, and WTI 0.57 percent lower at $95.5.
This article originally appeared on: RT