{"id":15134,"date":"2012-10-01T17:23:43","date_gmt":"2012-10-01T15:23:43","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/emerging-markets-russian-stocks-buck-weaker-emerging-trend\/"},"modified":"2012-10-01T17:23:43","modified_gmt":"2012-10-01T15:23:43","slug":"emerging-markets-russian-stocks-buck-weaker-emerging-trend","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-russian-stocks-buck-weaker-emerging-trend\/","title":{"rendered":"EMERGING MARKETS-Russian stocks buck weaker emerging trend"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Oct 1 (Reuters) &#8211; Robust manufacturing data from<br \/>\nRussia pushed its stock market 1 percent higher on Monday,<br \/>\nbucking the generally weaker trend in emerging equity markets<br \/>\nwhile central European currencies firmed modestly as the euro<br \/>\nrecovered from lows.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Weak purchasing managers surveys have underscored the<br \/>\nfragile state of the world economy, with manufacturing data from<br \/>\nChina offering proof of a seventh straight quarter of slowing<br \/>\ngrowth, while euro zone PMIs showed the bloc has likely fallen<br \/>\nback into recession.<\/p>\n<p><span><\/span><\/p>\n<p>MSCI&#8217;s main emerging markets index eased 0.12<br \/>\npercent after gaining almost 7 percent in the July-September<br \/>\nperiod, recouping most of the losses from the second quarter.<br \/>\nChinese and South Korean markets, which together make up a third<br \/>\nof the index, were closed for a holiday.<\/p>\n<p><span><\/span><\/p>\n<p>But Russian equities jumped despite slightly weaker<br \/>\noil prices as PMIs showed the economy expanding at the fastest<br \/>\npace in four months, suggesting resilience in the face of<br \/>\nslowing growth.<\/p>\n<p><span><\/span><\/p>\n<p>The rouble did not benefit however, trading flat to the<br \/>\ndollar.<\/p>\n<p><span><\/span><\/p>\n<p>The Czech crown and Polish zloty rose 0.2 percent against<br \/>\nthe euro  as the latter rose off three-week<br \/>\nlows hit earlier in the day. The crown has posted two weeks of<br \/>\nlosses that took it to six-week lows after the central bank cut<br \/>\ninterest rates and hinted at more steps to weaken the currency.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Euro\/dollar is rebounding so central European currencies<br \/>\nare also rising, overshadowing the fact that PMIs have been<br \/>\ndisappointing everywhere,&#8221; said Thu Lan Nguyen, an emerging<br \/>\nmarkets strategist at Commerzbank in Frankfurt.<\/p>\n<p><span><\/span><\/p>\n<p>Poland is widely expected to initiate a rate cut cycle on<br \/>\nWednesday but conflicting signals from the 10-member central<br \/>\nbank board are making markets uncertain, some analysts said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;A rate cut could lead to near-term zloty weakness as it is<br \/>\nnot yet full discounted by markets currently,&#8221; Credit Agricole<br \/>\nanalysts told clients.<\/p>\n<p><span><\/span><\/p>\n<p>(Reporting by Sujata Rao; editing by Stephen Nisbet)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON Oct 1 (Reuters) &#8211; Robust manufacturing data from Russia pushed its stock market 1 percent higher on Monday, bucking the generally weaker trend in emerging equity markets while central European currencies firmed modestly as the euro recovered from lows. Weak purchasing managers surveys have underscored the fragile state of the world economy, with manufacturing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15134","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15134"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15134\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}