Russian rouble, stocks down on lower oil, China trade data

MOSCOW: The Russian rouble weakened and stocks headed lower in early trade on Thursday, pressured by lower oil prices and worse-than-expected macroeconomic data from China.

At 0707 GMT, the rouble was 0.4 percent weaker against the dollar at 63.3 and had lost 0.5 percent to trade at 69.7 versus the euro.

Global markets felt selling pressure after data showed that China's September exports fell 10 percent from a year earlier, far worse than expected, while imports unexpectedly shrank after picking up in August.

That suggested signs of steadying in the world's second-largest economy may be short-lived.

Russian stocks were lower as Brent crude oil, a global benchmark for Russia's main export, lost 0.64 percent and slid to $51.48 a barrel.

The dollar-denominated RTS index was down 0.77 percent to 988.31 points, while the rouble-based MICEX shed 0.35 percent to 1986.37 points.