Russian floors started off Wednesday’s session in the black following positive performance on Wall Street. Investors expect upward momentum to prevail during the day, though falling oil prices may cause a correction.
Despite declining oil
prices on Tuesday, Russian markets ended the day’s session in
positive territory: The MICEX advanced 1.15 percent to close at
1422.99, and the RTS added 1.13 percent to
Asian stocks traded mostly higher on Wednesday due to the
positive sentiment on Wall Street. Tokyo’s Nikkei added 1.6 percent
to reach 15,500 for the first time in over five years, after the
Bank of Japan kept its monetary policy unchanged as
Investors will also be eying testimony from Federal Reserve
Chair Ben Bernanke due later in the day. European stocks may see a
boost amid speculation over whether the Fed will continue its
economic stimulus program until next year. Hints emerged that
the US may not be ready yet to end its bond-buying program when St.
Louis Fed President James Bullard and New York Fed President
William Dudley said that low inflation and mixed signals for growth
prospects meant an end to stimulus was unlikely.
The US will also publish data on existing home sales, a
leading indicator of economic health, and the Fed will publish the
minutes of its most recent policy-setting meeting. In addition to
the anticipated statement from the Fed chief, more news will follow
from other international markets: Japan will release official data
on its trade balance, the difference in value between imports and
In the eurozone, Italy and Germany will hold government bond
auctions, and EU leaders will gather to hold an economic summit in
Brussels. The Bank of England is expected to publish the minutes of
its most recent policy-setting meeting, and the UK is also set to
release official data on public sector net borrowing and a report
on industrial order expectations.
European stocks posted gains on Tuesday: The benchmark Stoxx
600 index ended the session up 0.1 percent at 309.99, Germany’s DAX
advanced 0.2 percent to 8472.20, France’s CAC rose 0.3 percent to
4036.18 and London’s FTSE 100 was up 0.7 percent to close at
US stocks closed in the black on Tuesday. The Dow Jones
Industrial Average climbed 0.34 percent to 15,387.58, the S&P
500 added 0.17 percent to close at 1,669.16, and the tech-heavy
Nasdaq Composite Index rose 0.16 percent to 3,502.12.
Oil quotations are falling, with both Brent and WTI losing 0.3
percent each; Brent is currently trading at $103.50 and Light is
trading at $95.80.
This article originally appeared on : RT