Market Analysis

morning market to recoup yesterday"s loss

Stock Indices of America closed on Wednesday with losses of more than 1%. Investors are disappointed not only macroeconomic statistics (consumer price inflation in December at 0.2% and decrease the number of new buildings with 574 thousand to 557 thousand), but the corporate reporting of a number of major companies and banks. Nevertheless, the American share indexes were able to confidently leave their minimum daily values and some offsetting fall closer to the end of auction.

today"s trading on Asian markets do not have a single direction: Japanese, Chinese and Korean indexes rise, others fall. In Asia there are now two conflicting trends: while in Japan the demand for bank lending fell the most in more than 5 years, in China the other hand, credit growth in December, showed double-digit growth rates. Apparently, therefore, today released data from China again did not disappoint: the growth of retail sales in December at 17,5% y /y GDP growth in the 4 square. by 10,7% y /- maximum rate of growth of the Chinese economy since 2007.

All of this raises concerns for investors in terms of monetary tightening measures in China because of the acceleration of inflation, which indirectly puts pressure weakening of the euro (EUR /USD 1,41). Investors are waiting for the fear of a possible forced decline in lending in China, which eventually could lead to a slowdown in consumption of oil. Oil prices are sluggish this morning trying to restore their values after yesterday"s decline on expectations of lower oil reserves in the United States. Morning quotes mixture Brent traded near a mark of $ 76.5 per barrel.

opening of trading on Russia"s stock market on Thursday we will see a small gepom up. I think in the morning the market should play the restoration of positions overseas indices, the gradual recovery in oil prices from evening lows and rising futures for America (SP 0,25%). Better the market today can feel the paper oil and gas sector, here we distinguish Lukoil and Novatek. In the second echelon of paper developers will probably continue to climb, launched a day earlier. MICEX today may return to the mark of 1,470 points.

After trading in the United States have reported good Starbucks and eBay. This afternoon, waiting for release release from Goldman Sachs and Xerox. And after the session, their records will issue American Express, AMD, and Google. From the statistics should highlight the January data for the euro zone PMI at 12-00 (estimate: 54.4). At the same time leaves the ECB"s monthly report. In the 16-30 waiting for data from the U.S. requests for benefits b /d. 18-00 In a study published the January Philadelphia Fed manufacturing activity (prediction: 18.0) and the December index of leading indicators (forecast: 0.7%). In the 18-30 waiting for publication of data on crude oile42EIA.

Today, reports Goldman Sachs, from which await only the positive numbers
For Russia"s stock market develops mixed external background, expected hetero-directed opening of domestic sites
At the evening session FORTS adjusted upward
An important factor for the achievement of Russia"s market highs this year will be macroeconomic statistics and reports Goldman Sachs
If today"s reports of American companies and statistic data show signals of recovery of the U.S. economy, the negative can be neutralized by
Review of the FOREX market for 20.01.10
Gazprom intends to change its marketing policy because of the loss of leadership in the European market
Dollar depreciated - a review of cash markets
Cabinet may require the recalculation of "winter" utility tariffs

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