Markets on the Rise Again

October 24, 2014

On Thursday, the world’s financial markets closed mainly on the rise, with the exception of Russia’s equity market.

As such, European floors saw the British FTSE 100 grow 0.3 percent up to 6,419.15 points, the German DAX 30 advance 1.2 percent up to 9,047.31 points and the French CAC 40 gain 1.25 percent making 4,156.49 points.

However, the Russian equity market didn’t follow the general trend – the MICEX index fell 0.09 percent down to 1,372.92 points, and the RTS index dropped 1.1 percent down to 1,035.91 points. The latter reached its 5-year low during the day. Even rising oil prices didn’t manage to give a boost to Russian indices – investors paid attention to announcements by the Head of Russia’s Central Bank about the intention to forgo the currency corridor already this year as well as to Standard & Poor’s upcoming decision on Russia’s sovereign credit rating.

In the USA, the Dow Jones Industrial Average grew 1.32 percent up to 16,677.90 points, the Standard & Poor's 500 gained 1.23 percent up to 1,950.82 points while the NASDAQ Composite advanced 1.6 percent up to 4,452.79 points.

On Thursday, oil prices rose due to reports that Saudi Arabia considerably decreased its oil deliveries in September. The NYMEX price of WTI oil futures for December went up by $1.57 reaching $82.09 a barrel. On London’s ICE, the December Brent oil future rose by $2.12 and closed at $86.83 a barrel. 

There are no new developments on the Forex market.

Anna Gorenkova, NordFX Analyst

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