Market Buzz: Data-driven optimism

0496rian 00947860.hr .ru  Market Buzz: Data driven optimism

On Monday the Russian markets closed slightly higher. The MICEXadded 0.02%, with the RTS up 0.19%. Rostelecom shares along with anumber of energy field representatives TGK-2, TGK-9, OGK-2 kept ontop. Novatek, TMK, Belon and Mosenergo dipped on Monday. “The outer background anticipating the Russian floors openingis rather positive,” says InvestCafé analyst Yulia Voitovich.“I believe that positive moods of the foreign investors andgrowing oil quotations, the Russian market is likely to open in theblack.”Oil prices are mixed, with Brent adding 0.42%, while Light issteady.Russian Severstal will publish its 2012 financial statementaccording to the International Financial Reporting Standards. Theproduction and sales cuts in the last quarter of 2012 will likelyshow worse financial results. Steel production has been cut by 5%,while sales dropped by 14% over the same period. The company’sproceeds are expected to drop to US$3.2 billion.Macroeconomic data from Europe and the US are also expected onTuesday. The key updates from Europe include the final read on theservices PMI for Germany, eurozone retail sales for January, whichis expected to show a lowly 0.3% growth compared to last month.Services PMI is expected to reach 47.3 in February.The eurozone market’s final PMI data is expected to show thatactivity across manufacturing and services in the eurozonedeteriorated for the last 13 consecutive months.The US will release February’s ISM Non-Manufacturing Index.European floors closed lower on Monday. British FTSE100 declined by0.52%, German DAX lost 0.21%, as the French CAC40 added 0.27%.American markets closed higher. By the end of the trading sessionDJIA climbed by 0.27%, while S&P 500 added 0.46% and NASDAQrose 0.39%.Asian floors are still in the black. The Hang Seng is up 0.29%,with the Nikkei adding 0.75% and Shanghai Composite 0.84%.

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Market Buzz: Data-driven optimism


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