* Stocks at 1-week high; Russia jumps 1 pct on oil
* Rouble flat; central bank warns of inflation risks
* Turkish lira, bonds ease as CPI below f’cast
By Sujata Rao
LONDON, April 3 (Reuters) – Strong U.S. manufacturing data
enabled emerging equities to gain for the third straight day of
trade on Tuesday, led by Russia, which also benefited from oil
rising above $125 a barrel.
Manufacturing growth in the world’s largest economy picked
up faster than expected, data showed on Monday, a day after
China – the second-biggest economy – announced a surprise jump
in its own large factory activity, or Purchasing Managers Index
(PMI).
Emerging equities hit a one-week high, climbing 0.8 percent
as of 0925 GMT. Chinese markets were closed for a
holiday, but Hong Kong stocks rose after leading Chinese
developers reported rising sales in March from the month before.
“The Chinese PMIs and the U.S. data has added to the
feel-good factor for markets. The mood is getting better even
though there are risks in the background that are preventing a
huge rally,” said Societe Generale analyst Gaelle Blanchard,
citing euro zone problems and oil prices as the source of worry.
Equity gains were led by Moscow which rose 1 percent
as oil prices surged above $125 a barrel, taking Russian
year-to-date gains to 15.6 percent.
Continued…
