Market Analysis

United States

Futures on the SP 500 index increased by 0.4%.

Europe

European markets moderately increased, showing a positive momentum in its seventh consecutive session. Such a long recovery in the markets has not been nearly 2 years. European FTSE Eurotop 100 index of 0.39%, Britain's FTSE 100 0.62%, German Xetra Dax 0.92%, French Lyxor Cac 40 0.76%. Markets remain optimistic mood in the background of improving forecasts of corporate profits.

support markets have analysts Goldman Sachs and Credit Suisse, which are forecast for the SP 500 index at the end of the year. GS increased the goal to a level of 1060 points from the previous benchmark 940, Credit Suisse with 920 points to 1050 points. Against the backdrop of the financial rescue corporation CIT Group, which managed to avoid bankruptcy, increasing shares of banks and insurance companies. Shares prior to CIT Group rose by 79%. Royal Bank of Scotland 3.3%, Lloyds 3.1%, Deutsche Bank 1.7%. Prudential 3.6%, Old Mutual 2.9%, Aviva 2.8%.

Oil

Oil prices consolidated in the range of $ 64-66. The dynamics of oil determines the data on oil reserves in the United States, today data from the American Petroleum Institute (API), on Wednesday the data from the Office of the U.S. Energy Information (EIA). Spot Brent $ 66.05, WTI $ 63.98. Futures mark Brent with delivery in September increased by 0.8% and traded at $ 67.

Russia

The Russian market in the first half of the day showed negative dynamics of neutral, but do not drop out, and indexes were published in Plus. Reporting continues to please the United States and oil companies. At 15:50 Moscow time the MICEX index rising to 2.2% in the black for the RTS 0.83%. Trading volume on the MICEX stock market was slightly above average level of 40 billion rubles.

In the best performing stocks again today metallurgists. Sector is growing in anticipation of the collection of metallurgists of Magnitogorsk of state and development prospects of the industry, which will be held on 24 July. CMI 7.8%, 5.2% Severstal, NLMK 4.3%, 3.8% TMK. There is information that MMC Norilsk Nickel may pay good dividends on the basis of I semester. Shares Nornikelya in the black at 0.6%. Growing oil and gas sector, Surgutneftegas 4.3%, 3.6% of Lukoil, Gazprom 3.1%, 2.5% Rosneft. Shares of Russian financial institutions after European banks showing positive momentum. 2.9% Sberbank, VTB 2.7%.

Outlook

The Russian market is trading above 1000 mark in the important points, but to talk about the continuation of the ascending motion is premature. Alarming small and neutral dynamics of the second tier, which lags behind the chips. Corporate reporting has continued to please, but our market is far more important than the dynamics of oil, which will be determined by management. If the oil will continue to move towards $ 70, then we can go to the range of 1000-1200 points. Otherwise, go back to levels of 880-900 points.

Today, we will wait of my head of the Fed Ben Bernanke with the report on monetary policy for six months, the statement Bernanke may influence the currency market, the movement which in turn have an impact on oil and metals. It was expected that the head of the Fed announced the intention of the Fed to continue the current policy is extremely cheap and available money even for a considerable time that the markets are very good. However, if the tone of his speech will be different, and he said that the Fed will need to tighten monetary policy to avert the threat of inflation, the dollar strengthened and oil will go down.

speculators, I remain in cash. Medium-and long-term investors to recommend to retain the position.

The Interim Administration continues to seek remediation Ukrprombank Bank
Analysis - Results of the day
Forex on the European session
The index of the Frankfurt Stock Exchange Xetra DAX rose by 52.87 point, the index of the London Stock Exchange FTSE 100 rose 32.23, paragraph
Players should be ready to correct, which may be short, but rapid
Today, U.S. legislators will be presented to the out of the crisis
Overview of the oil market for 20.07.09
Bernanke pledged to use all available means to avoid inflation
The Cabinet instructed STAU strengthen the administration of VAT

News and Comments