Market Buzz: Oil rises, markets start in black on Chavez death

5426market Market Buzz:  Oil rises, markets start in black on Chavez death

Russian floors closed up on Tuesday. The MICEX added 1.35%,while the RTS gained 1.64%. Aeroflot, E.On Russi, TGK-14, IDGC ofCenter and Volga Region, Surgutneftegaz and TMK dipped.European markets also ended their session in the black. London’sFTSE100 was up 1.36%, Germany’s DAX added 2.32%, while the FrenchCAC40 rose 2.09%.US bourses demonstrated positive moods on Tuesday. By the end ofthe session the Dow had risen 0.89%, the S&P added 0.96% andthe NASDAQ was up 1.32%.On March 6 investors will be expecting a couple of big economicreports that could move markets tomorrow. Among the major ones isthe eurozone gross domestic product report. Analysts expect thatthe eurozone economy will have contracted by 0.6% in the fourthquarter.And it’s jobs week in America, meaning the US will release the ADPunemployment change report with a preview released on Wednesday.This data will reveal how many jobs in the private sector wereadded to the American economy in February. Analysts expect around170,000 jobs will have been added in February, which is slightlyfewer than in January (192,000 jobs.)By the time Russian floors have closed, the US will release factoryorders updates for January. It is expected this indicator will havefallen by 2.2% in January. In December, factory orders rose by1.8%.Before markets open, American Eagle Outfitters Inc (AEO) willrelease its earnings report.Brent oil rose a second day, as Venezuela, OPEC’s fourth-biggestcrude producer, reported the death of President Hugo Chavez. UScrude stockpiles rose 5.6 million barrels last week, data from theAmerican Petroleum Institute showed.Oil quotations are still positive. Brent adding 0.33%, Light adding0.27%.Some news will also come from the Russian business on Wednesday.STS Media will present its financial statement for the 4Q2012.Experts expect the company’s proceeds to have grown by 2.1% overthe past 12 months and will have made US$766.4 million.Asian stocks are still stronger. The Hang Seng is up 0.86%, whilethe Nikkei has added 1.69%, and the Shanghai Composite 0.35%.

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Market Buzz: Oil rises, markets start in black on Chavez death


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