Market Buzz: Friday factors cap gains
Russian markets are expected to open slightly higher Friday on high commodity prices, while a lack of drivers at home and abroad will likely result in low-volume trades.
Russian stocks closed in the black Thursday amid higher oil prices that surged during the Gaza conflict. The MICEX added 0.7% and the RTS gained 1.3%. European markets continued to rally Thursday, supported by strong global Purchasing Managers Index (PMI) factory data, as investors continued to hope for a positive outcome to the ongoing EU budget summit. The eurozone’s PMI was at 45.8, compared to 45.7 in October, but signaled that it’s likely to shrink in the future. The Stoxx Europe 600 rose 0.6%. The French CAC 40 gained 0.6% and the German DAX 30 added 0.8%.US floors were closed for the Thanksgiving Day holiday Thursday, and will hold an abbreviated trading session on Friday.Most Asian markets advanced Friday on signs of improvements in global manufacturing. Hong Kong’s Hang Seng rose 0.3% and China’s Shanghai Composite climbed 0.7%, winning back the previous day’s losses. South Korea’s Kospi added 0.5%, while Australia’s S&P/ASX 200 shed 0.1% on losses in resource stocks. Japanese markets were closed for a holiday.
