Russia Gave Markets Green Light

September 4, 2014

On Wednesday, the world’s financial markets closed mainly on the rise as compared to the closing rates of the previous trading day. As such, In Europe the British FTSE 100 grew 0.65 percent up to 6,873.58 points, the German DAX advanced 1.26 percent up to 9,626.49 points, and the French CAC 40 gained 0.99 percent finishing trading at 4,421.87 points.

On the Russian floor, the MICEX index hiked up by 3.49 percent getting to 1,449.29 points while the RTS index shot up by 5.20 percent to 1,239.23 points.

In the USA, the Dow Jones Industrial Average grew 0.06 percent up to 17,078.28 points, the Standard & Poor's 500 shed 0.08 percent closing at 2,000.72 points, and the NASDAQ Composite fell 0.56 percent down to 4,572.57 points.

The NYMEX price of WTI oil futures for October rose by $2.66 reaching $95.54 a barrel. On London’s ICE, the price of October Brent oil futures went up by $2.43 and made $102.77 a barrel.

The rates rise was triggered by reports that the presidents of Russia and Ukraine sat down at the negotiating table and had had a prior agreement on a ceasefire in Ukraine. This can be conducive to  an economic recovery in the region.

On the Forex market, the situation remains unchanged, though – EUR/USD is holding around yesterday’s marks.

Anna Gorenkova, NordFX Analyst

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