Market Analysis

 
  
 
 
  19.01.10 13:07 ;
 

Russia"s stock market opened today near yesterday"s closing levels, and after a rather positive trend in early trading moved to decline. By 12:40 Moscow time the MICEX index dropped to a mark of 1462.23 points, losing 1,17%, RTS index reached 1567.91 points (-0.83%). On FORTS the March futures on the RTS index in the red at 1.53% and amounts to 156,900 points.

Yesterday

American shopping malls were closed, so the sense of the Russia"s market is mainly determined by commodity quotations. Crude oil futures are falling, not providing adequate support to oil companies: to 12.50 Moscow time, the March futures for Brent crude traded at $ 76.258 per barrel, Light - $ 77.89 per barrel. Papers of oil and gas companies under pressure from the prices of "black gold" traded in "red zone": Gazprom (-1.31%), Gazprom Neft (-2.58%), Rosneft (-1,74% ), LUKOIL (-1,12%), Surgutneftegaz "(-1,56 %).

In anticipation of release reporting financial institutions U.S. securities traded on the banks of positive territory, but they now a thing of the minus: VTB (-0,13%), Sberbank (-0.24%). "Today, the data fall on profit Citigroup, one of the" problem "of U.S. banks, and there is a risk that the reporting on U.S. bank capital can resume the flight to quality", - said Vasily Konuzin, head of analytical department of IFC Alemar. Reporting Citigroup released before the start of trading in the U.S..

the plus and has traditionally been held as "protective" paper "Polyus Gold", now shares decreased by 0,75%.

Worse

market traded securities of a number of metallurgical and mining companies: "Severstal" (-2.82%), Raspadskaya "(- 3,42 %).

The leaders of growth in today paper electricity companies. "Went up by 1,14%, 2,3% and 0,45% ordinary shares Irkutskenergo, OGK-5 and OGK-3, apparently"d play again move the industry on the RAB and the new tariffs, as well as on Apparently, favorable earnings performance in the sector earlier this year due to cold weather, "- commented Alexander Osin, chief economist UK" Finam Management ".

European sites also minus: the FTSE falling to 0.76% and amounts to 5,452.88 points, DAX index lost 0.71% and amounts to 5,876.28 points, theCAC 40 index - 3948.93 points (-0.72 %). By 12.30 Moscow time, Russia"s ADRs for shares in London (in dollars per share) are: "LUKOIL" - 58.7 "Norilsk Nickel" - 169.8, Rosneft - 9.09, "Rostelecom" - 5.223, Gazprom - 6.425.

Futures on the SP is reduced by 0,18% and is at the level of 1130.3 points.

By 12:50 Moscow time the euro /dollar is at 1.437. Today, the MICEX to the dollar yield 29.52 rubles for one euro - 42.52 rubles. Thus, the value of currency basket is now 35.4 rubles (yesterday, on the basis of bidding price of currency basket was 35.43 rubles). "Maybe in the short term quotes the single European currency still able to show some growth, but, in general, weekly trend rate EUR /USD, formed in late 2009, largely influenced by information showing the deterioration of the financial situation in a number of EU countries, now is still valid. Thus, the expected market continued on the ECB"s "soft" monetary policy, and probably significantly more complex by the nature of the medium-term recovery of the European economy in comparison with the U.S. will be in the coming quarters, may contribute to the weakening of the euro against the dollar U.S., regardless of the situation in the sector of risky assets ", - says Alexander Osin, chief economist UK" Finam Management ".

"Further dynamics of bidding will be determined by the situation in the western trading floors. factor for continued growth was the influx of liquidity in the domestic exchanges and favorable growth prospects for steel sector and a number of companies from the second echelon." After dinner, the market is expected to release reporting Citigroup, and that form the basic dynamics of the movement of stock and commodity markets ", - says Dmitry Dorofeev, analyst IK" Vestiga ".

  

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Forex Asia
At 13.00 Moscow time trade on the MICEX Stock Exchange amounted to 83.1915 billion rubles
Negative factor in the market of non-ferrous metals appear significant fluctuations in the currency market and weak demand
The worst of the market, probably under the influence of technical factors, the securities traded today, a number of metallurgical and mining companies
As one of the most favorable sectors should now be noted Metallurgical Sector
Speculative recommendation on shares of Polyus Gold, Gazprom, Lukoil, Sberbank and VTB
Shareholders fund Finam - Information Technologies "will receive the investment income

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