Russia’s Micex Index Falls Second Day on Global Growth Concern
Russian stocks declined a second day, extending the Micex Index’s annual loss, on concern global economic growth will slow, hurting exports from the world’s largest energy supplier.
The 30-stock Micex fell 0.2 percent to 1,383.09 at the close in Moscow, pushing this year’s decrease to 18 percent. The dollar-measured RTS Index slid 1.2 percent to 1,382.19.
Stocks dipped as oil, the country’s biggest export, fell for the first time in seven days as a surge in the European Central Bank’s balance sheet to a record highlighted the growing risks of the region’s debt crisis.
There’s “no significant positivity” for Russian stocks today, so markets are following Asia lower, UralSib Capital, a Moscow-based brokerage, said in a research note.
Economic reports today showed Japan’s industrial production dropped and confidence among South Korean manufacturers sank to a 30-month low. U.S. home prices fell more than projected in October even as consumer confidence gained in December to an eight-month high, data showed yesterday.
Russia evacuated some coal mines in Siberia after a magnitude 6.7 earthquake struck the Tuva region, the Emergency Ministry said. Work is resuming and safety checks are continuing, the ministry said. No injuries were reported.
Oil for February delivery fell as much as 1.4 percent in electronic trading on the New York Mercantile Exchange.
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