FINAM - Daily Market Watch - Oct 16, 2009
ADP News Middle East & Africa 2009, Oct 16
ADP News Middle East & Africa
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Market Roundup Russian benchmarks turned bearish Thursday, snapping several days of gains on weak Western earnings reports, with the RTS Index dropping 0.48% and the MICEX Index shedding 1.56%. Most O&G plays moved higher on retreating oil prices, as Gazprom lost 2.2%, Rosneft inched up 0.3% and Lukoil eased 0.7%. Ambiguous financials released by major US banks exerted an adverse impact on domestic financial issuers, with Sberbank plunging 4.1% and Bank VTB sinking 3.9%. Steels, except for NLMK (a 3.9% surge), closed in stride with the market, with MMK falling 2.6% and Severstal dipping 0.9%. American indices closed in positive territory Thursday, with the Dow Jones Industrial Average adding 0.5%. Rising oil prices were the primary upside driver, which, in turn, pushed up demand for energy stocks.
- Category: Economics
- Published: Oct 16, 2009
- Publisher: AII Data Processing Ltd.
- Seller: The Gale Group, Inc.
- Print Length: 7 Pages
- Language: English