Market Buzz: Record low yen and record high Nikkei to dictate floors

Russian markets declined for the fourth day in New York as oil slid and the Finance Ministry announced the Kremlin is considering a plan to hike up taxes on crude output.

Equities fell for a third day as VTB, the nation’s
second-biggest bank, performed poorly.

The MICEX dropped 0.1 percent and closed at 1405.76, dropping
10.74 points. The RTS closed at 417.76, closing high and gaining
1.91 percent.

The US is to release data on producer price inflation,
industrial production, the capacity utilization rate and a report
on manufacturing activity in New York State.

European market indices finished positive on mixed data. The
Euro Stoxx fell 0.22 percent and is sliding on London floors,
France’s CAC advanced 0.25 percent, and Germany’s DAX gained 0.72
percent. French GDP data fell more than expected, but a separate
Eurostat report showed overall EU industrial production rose by 1
percent, seasonally adjusted. Spanish banks added to big eurozone
losses.

The FTSE 100, the commodity heavy London index peaked at the end
of the day for a strong finish at 686.06, up 0.82 percent.

On Wednesday, Germany, France, and Italy are set to release
preliminary data on first-quarter GDP growth.

Index gains were significant in New York. The S&P 500 soared
1.01 percent by market close, a 10th all-time high in 12 sessions.
The Dow Jones closed high, and is already up 0.82 percent on London
floors. Bank of America and American Express spearheaded gains, up
2.77 percent and 2.46 percent respectively. The NASDAQ Composite
index rose 0.69 percent.

The US is to release data on producer price inflation,
industrial production, and the capacity utilization rate on
Wednesday.

In Asian trading Tuesday, Japan’s Nikkei 225 climbed over 15,000
for the first time since January 2008, as the yen hit a 4.5-year
low against the dollar.

Sony Corp soared 12 percent on the news that billionaire Daniel Loeb will heavily
invest
in the company’s entertainment limb.

Australia’s S&P/ASX 200 advanced 0.36 percent and the
Australian dollar dropped to an 11-month low after the Australian
Treasurer announced an unbalanced budget deficit through 2016.

Hong Kong Hang Seng rose 0.13 percent, and the New Zealand NZSE
slightly gained 0.01 percent.

Both WTI and Brent are up. WTI added 0. 06 percent to 94.27, but
down from Tuesday. Brent has slightly eased 0.20 percent to 102.28
per barrel.

This article originally appeared on : RT