At the opening of the RTS index has lost 0,56% and the MICEX index fell by 0,4%
Today we will have no small statistics from overseas: 16.30, Moscow time went on the number of requests for unemployment benefits (the U.S.) and at 18.00 - the sale of homes on the secondary market (the U.S.).
Asian stock exchanges have completed to date in the red zone: Chinese index (Shanghai Composite) fell by 0,235%, Korean Index (KOSPI) lost more than 0,93%, the index of Hong Kong (Hang Seng) down to 2.746% . Exception was only the Japanese index (NIKKEY), which in weight by 1,675%. After long weekend Japan's players decided to play all the previous positive world markets.
Our market continued yesterday's decline on increasing oil reserves in the United States. At the opening of the RTS index lost 0.56% - 1246 items. MICEX and MICEX-10 fell 0.40% and 0.50% respectively.
Despite the loss of position, oil futures for Brent crude is not of yesterday continued their rapid decline. Today quotes traded near $ 67.56 (-0.60%) per barrel, the next level of support - $ 66. In the precious metals market is developing a growing trend. Today, prices are near a local maximum in 2009 - $ 1,013.8 an ounce. The market there is a decline of industrial metals: copper (-0.28%), nickel (-1.51%), tin (-1.66%) and zinc (-1.44%).
The market shares of the second wave is observed activation of bidders, which once again confirms the interest in this segment of investors. Over the past week, the index of the second tier (RTS-2) added more than 4%, RTS index during this period increased by only 1.86%.
comments today, I want to dedicate shares Silvinit. Preliminary data on the volume of production sylvite within 9 months and forecast of the company for 2009 show a significant decrease on 2008, but generally in line with our estimates.
Reuters, citing sources in Silvinit told about future production of potassium chloride in 2009 and expected production results for the 9 months of 2009 According to a source Reuters, in 2009 to produce a best-case scenario Silvinit 3 5 million tons of potassium chloride is 31% below the previous year. Our forecast of sylvite in 2009 is 3.3 million tons, therefore we believe that while our predictions are well supported by the company's estimates and production figures for the 9 months of 2009 Thus, according to preliminary data, sylvite, for 9 months 2009, will be produced 2,3 million tons of potash, representing 70% of our estimate for 2009
volume of production of potassium chloride is closely linked with the market price for this type of mineral fertilizers. Since 2009, world spot prices for potassium chloride (with delivery FOB Vancouver) fell 20% at the Bid price and 40% for Mid market, up to 420 $ /t and 450 $ /t respectively. At these levels, prices are starting from the end of July. We associate a certain stabilization of the global spot prices that just at the end of July were contracted deliveries of potash to India for 2009-2010. total of 3.2 million tons and costs $ 460 /t (shipment CFR). India is one of the largest consumer of potash in the world. It is therefore not surprising that the financial crisis and the loss of certain price targets for the Indian consumer contracts served as benchmark for spot market and spot prices, in fact, stabilized at some time around current levels.
Given the good agreement between performance sylvite with our predictions and the stabilization of world prices for potash, we reiterate our BUY recommendation on common and preferred shares of sylvite with target prices at the end of 2010 $ 857 and $ 514 respectively.
ability to monitor real transactions experienced traders we have in the Trade Ñenter. Choose your strategy and get connected.
| log in and see the material;;
Your score will be the first! |
|
European indexes vary raznonapravlenno Wednesday
Likely target for correction by the MICEX, on the basis of technical factors is the level of 1150 points, or slightly higher
In the case of breakdown level of 1160 points on the MICEX index correction will receive an additional impetus to the deepening
Evening session on FORTS noted growth of open positions on most contracts
Today sales in the market could continue, but for Russia's quote still relevant uptrend from July 13, 2009
The immediate support for the MICEX index is at 1180 points, then - at the level of 1150 points
External background today will support the bears and will facilitate the continuation of the negative dynamic
If the price of oil will keep their support at $ 68, Russia's market will remain under upward movement
On the outcome of the day will have a significant influence U.S. data: initial claims for unemployment benefits and the sale of existing housing
Leave a Reply