results of the previous day:
Thursday on Russia's stock market returning to a draft purchase again subjected to verification. In the early trading optimists maintain their advantage, reluctantly lack of support from energy and negative in the current situation the outcome of the Fed meeting, later, they had yet to retire after the release of disappointing data from the housing market.
RTS index has reduced its value at 0.96% to 1242.23 points and the MICEX index dropped more significantly - by 1.8% to 1177.26 points. Trading volumes were almost the maximum for the last month. Note the sharp increase in the negative basis in the near futures on the RTS.
morning on Thursday on Russia's stock market has been greeted in a pessimistic tone. Not yet had time to settle down after a rather unpleasant emotions of data on stocks of petroleum and petroleum products in the United States, giving prices for oil and strong impetus to sales, and with it collapsed under the closing quotation on the eve of Russia's market, as market participants had to to the same still to play and the outcome held meetings Fed.
monetary authorities in addition to the expected positive changes Steytment regarding the status of the economy have decided, as many predicted, the transition to the exit strategy from mere rhetoric to have more decisive action. Change phase to stabilize the economy in its recovery phase led the Fed in advance, given the high inflationary risks and begin to fold the program incentives. If at the previous meeting, Mr. Bernanke and company reduced their purchases of Treasury securities, automatically extending the validity of the program, up to this meeting, a similar adjustment has been more ambitious program of redemption agencies, secured by mortgage and debt obligations issued by the agencies. Now, these programs made by two-thirds completed, instead of the end of this year at the end of the first quarter of next. Since the imposition of such a verdict, it became clear that the channel replenishment of fresh liquidity in financial markets significantly obmeleet that in one of the biggest rally on the American stock market since the 30-ies became a major source of profit taking.
Thus, after the opening of Russia's pads with a gap down followed by the psychological expected sales. Nevertheless, given the fact that, technically, the picture looked all the same in favor of the bull after the release of the stock indicators up in the previous session, and from the external indicators can no longer be considered some of the negative, market participants quickly mastered emotions and began to buy up shares fallen in price. Many simply guided by the fact that the graphs have seen local oversold, which is now given the inherent dynamics of enthusiasm for purchases prompted the desire to close the price gaps down, formed in the morning. Besides the day waiting for positive statistics from the U.S. and Germany.
After this, a mandatory program, the confusion has a similar reaction as in Russia in the Fed's meeting held at the European sites, but even there, and at domestic sites after some time again prevailed inertial drive for shopping, to which for long months of rallies have been accustomed market players.
Released at noon indicator of sentiment in the business circles of Germany, served as a convincing proof of a similar view. Despite the less optimistic the actual value of the forecast, the euro continued to recover lost ground against the dollar, and with it warm up interest in the stock markets to buy. Not prevented a recovered upward trend and expectation that in the forthcoming meeting of leaders of the G20 will be raised tightening the screws in the financial sector and the excessive strengthening of the single European currency. Apogee purchases made after the report from the labor market, according to which unexpectedly declined as the primary (530 thousand in the expectation of 550 thousand), and secondary applications for unemployment benefits, giving moderately positive signal for economic recovery.
However, as the previous day, to rest the stock exchange bulls on the laurels of its day did not have to. Once again, this time more sensitive plunged them into shock published statistics. In the role of the troublemakers were the figures for sales in the secondary housing market (5.1 million, before. 5.24 million, the forecast 5.35 million), which, instead of the expected improved performance unexpectedly documented deterioration. Although the published data there is a positive signal in the form of reduction of inventory of unsold homes to sales to 8.5 months, lowest level since April 2007, the response beyond the simple mismatch with the forecast turned out to be more acute. The reasons for this lie in the following. Once again, the lion's share (31%) in the total value of sales amounted to a forced sale at bargain prices, despite the fact that against the backdrop of a dismal situation in the labor market is forecast further growth of losses on mortgage redemption rights and as a consequence of decline in housing prices, which affect demand for the postponement future. Secondly, investors have been puzzled by the published data by a decline in support for the Fed this sector of the economy is a decision to reduce the level of purchases of securities secured by mortgage. In the third approaching the end of November, and with it the completion date the tax rebate of $ 8000 for the purchase of new housing, which may also deprive the real estate market it needed support.
Taken together, these considerations have led market participants to a new round of tangible profit at all the world's financial and commercial sites. It is worth noting that oil prices are once again a stone thrown down on the sort of WTI reached a level of $ 66/barr. Russia resist this market has proved incapable, and tearing at the peak, and transferring the mark in the column results in the majority of the most liquid securities from plus to minus.
In this category finished the day in positive territory paper Polyus Gold (1.42%) and Polymetal (0.36%), not subjected to strong sales after the release of data from the housing market. Also, shares of FGC UES (5.94%) against the background of the first deputy head of the company Sergei Ivanov that the investment program of FSK 2010-2012. estimated at 519 billion rubles. and that the risk of default program, the company no. The company made its paper Steelworkers: Severstal (1.2%), MMK (0.42%), NLMK (0.79%) after the upward revision of its forecast price analysts UBS.
In the oil and gas sector (Micex OG -2.12%) singled out prefecture Transneft (0.3%). Shares Novatek (-0.45%) proved to be interesting against the background of the meeting was held, headed by Prime Minister Vladimir Putin about the development of gas fields in Yamal. Its outcome was an expression of willingness to foreign oil Major to take part in their development, as well as the construction of LNG plant at their base, through the transfer of relevant technologies, and risk sharing. At rallies of Gazprom (-1.71%) similar messages affected to a lesser extent, although it was presented with a gift in the form of considering the possible acquisition of Railways with the help of the state railway line cost 130 billion, in which the gas giant has already invested.
The worst of the market against the verdict, the Fed looked shares of banks: Sberbank (-3.64% obyk., scion. -2.17%) and VTB (-4.23%). Serious fire-sale were MMC Norilsk Nickel (-3.62%).
look at today's market:
Russia's stock market will begin Friday, slightly above Thursday's closing values and then, probably after some brief optimism still headed for the testing of medium-term uptrend line and its reversal point, located at 1165 points on the MICEX. The current finding of futures for U.S. indices in positive zone should not be set at too optimistic mood, as it may be only a technical rebound upwards. After trading on Wall Street projections of its disappointing financial performance presented Research In Motion and Hewlett-Packard. Fed after trading in Russia yesterday, as it became known, continued to move in the wake of downsizing programs quantitative easing, the economy, reducing the scale of TAF and TSLF. In addition, monetary authorities consider the possibility of early withdrawal of liquidity through open market transactions involving funds of money market funds. Aggravate the situation, Kevin Vorsha village, a representative of the Federal Reserve, who in an interview with WSJ noted that the regulator should be used to embarking on the completion of programs to stimulate the economy. Strengthened yen, indicating that curtailing operations carry-trade. Oil prices have traded at $ 66.3, which seriously hurts the investment attractiveness of Russia's stock market. From the outcome of the meeting of G20 leaders of some pleasant surprises, it is hardly worth waiting for. Even after yesterday's sales data in the secondary housing market, market participants are skeptical with regard to the expected increase in sales of new buildings. However, for the bulls despite this not a happy picture yet nothing is lost. And in the case of safeguarding the inviolability abroad in 1165 points on the MICEX index will remain for the chance to redeem defeat Thursday in the future. Under great pressure on Friday may remain bank shares. Also today, pay attention to the publication of data on orders for durable goods (16-30) and index of consumer confidence, calculated by the Michigan University (17-55). In Russia, reporting under IFRS for the first half will present Raspadskaya.
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Analyst Ratings
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Cabinet did not wait for replenishment
Market discount companies
Non-residents in Ukraine have taken a wait …
The fall in stock markets of Asia on Friday due to additional share issue Nomura and statistic data from the U.S.
Indices in the U.S. fell on Thursday due to declining sales of housing futures in positive territory on Friday
UN Security Council resolution could be the beginning of the tightening of sanctions against Iran and North Korea
Today is expected to decrease stock prices although the possibility of rebound in the second half of the trades is not excluded
If oil goes below $ 65 a barrel, the deep correction in Russia's stock market, likely will not avoid
If oil prices continue to decline, the current volatile Comma delimited on Russia's market in the coming days may be replaced by the correction
Friday is full of important macroeconomic statistics, and the quality of which will determine the closing levels for the domestic indices
Under great pressure on Friday may remain Russia's stock banks
results of the previous day:
Thursday on Russia's stock market returning to a draft purchase again subjected to verification. In the early trading optimists maintain their advantage, reluctantly lack of support from energy and negative in the current situation the outcome of the Fed meeting, later, they had yet to retire after the release of disappointing data from the housing market.
RTS index has reduced its value at 0.96% to 1242.23 points and the MICEX index dropped more significantly - by 1.8% to 1177.26 points. Trading volumes were almost the maximum for the last month. Note the sharp increase in the negative basis in the near futures on the RTS.
morning on Thursday on Russia's stock market has been greeted in a pessimistic tone. Not yet had time to settle down after a rather unpleasant emotions of data on stocks of petroleum and petroleum products in the United States, giving prices for oil and strong impetus to sales, and with it collapsed under the closing quotation on the eve of Russia's market, as market participants had to to the same still to play and the outcome held meetings Fed.
monetary authorities in addition to the expected positive changes Steytment regarding the status of the economy have decided, as many predicted, the transition to the exit strategy from mere rhetoric to have more decisive action. Change phase to stabilize the economy in its recovery phase led the Fed in advance, given the high inflationary risks and begin to fold the program incentives. If at the previous meeting, Mr. Bernanke and company reduced their purchases of Treasury securities, automatically extending the validity of the program, up to this meeting, a similar adjustment has been more ambitious program of redemption agencies, secured by mortgage and debt obligations issued by the agencies. Now, these programs made by two-thirds completed, instead of the end of this year at the end of the first quarter of next. Since the imposition of such a verdict, it became clear that the channel replenishment of fresh liquidity in financial markets significantly obmeleet that in one of the biggest rally on the American stock market since the 30-ies became a major source of profit taking.
Thus, after the opening of Russia's pads with a gap down followed by the psychological expected sales. Nevertheless, given the fact that, technically, the picture looked all the same in favor of the bull after the release of the stock indicators up in the previous session, and from the external indicators can no longer be considered some of the negative, market participants quickly mastered emotions and began to buy up shares fallen in price. Many simply guided by the fact that the graphs have seen local oversold, which is now given the inherent dynamics of enthusiasm for purchases prompted the desire to close the price gaps down, formed in the morning. Besides the day waiting for positive statistics from the U.S. and Germany.
After this, a mandatory program, the confusion has a similar reaction as in Russia in the Fed's meeting held at the European sites, but even there, and at domestic sites after some time again prevailed inertial drive for shopping, to which for long months of rallies have been accustomed market players.
Released at noon indicator of sentiment in the business circles of Germany, served as a convincing proof of a similar view. Despite the less optimistic the actual value of the forecast, the euro continued to recover lost ground against the dollar, and with it warm up interest in the stock markets to buy. Not prevented a recovered upward trend and expectation that in the forthcoming meeting of leaders of the G20 will be raised tightening the screws in the financial sector and the excessive strengthening of the single European currency. Apogee purchases made after the report from the labor market, according to which unexpectedly declined as the primary (530 thousand in the expectation of 550 thousand), and secondary applications for unemployment benefits, giving moderately positive signal for economic recovery.
However, as the previous day, to rest the stock exchange bulls on the laurels of its day did not have to. Once again, this time more sensitive plunged them into shock published statistics. In the role of the troublemakers were the figures for sales in the secondary housing market (5.1 million, before. 5.24 million, the forecast 5.35 million), which, instead of the expected improved performance unexpectedly documented deterioration. Although the published data there is a positive signal in the form of reduction of inventory of unsold homes to sales to 8.5 months, lowest level since April 2007, the response beyond the simple mismatch with the forecast turned out to be more acute. The reasons for this lie in the following. Once again, the lion's share (31%) in the total value of sales amounted to a forced sale at bargain prices, despite the fact that against the backdrop of a dismal situation in the labor market is forecast further growth of losses on mortgage redemption rights and as a consequence of decline in housing prices, which affect demand for the postponement future. Secondly, investors have been puzzled by the published data by a decline in support for the Fed this sector of the economy is a decision to reduce the level of purchases of securities secured by mortgage. In the third approaching the end of November, and with it the completion date the tax rebate of $ 8000 for the purchase of new housing, which may also deprive the real estate market it needed support.
Taken together, these considerations have led market participants to a new round of tangible profit at all the world's financial and commercial sites. It is worth noting that oil prices are once again a stone thrown down on the sort of WTI reached a level of $ 66/barr. Russia resist this market has proved incapable, and tearing at the peak, and transferring the mark in the column results in the majority of the most liquid securities from plus to minus.
In this category finished the day in positive territory paper Polyus Gold (1.42%) and Polymetal (0.36%), not subjected to strong sales after the release of data from the housing market. Also, shares of FGC UES (5.94%) against the background of the first deputy head of the company Sergei Ivanov that the investment program of FSK 2010-2012. estimated at 519 billion rubles. and that the risk of default program, the company no. The company made its paper Steelworkers: Severstal (1.2%), MMK (0.42%), NLMK (0.79%) after the upward revision of its forecast price analysts UBS.
In the oil and gas sector (Micex OG -2.12%) singled out prefecture Transneft (0.3%). Shares Novatek (-0.45%) proved to be interesting against the background of the meeting was held, headed by Prime Minister Vladimir Putin about the development of gas fields in Yamal. Its outcome was an expression of willingness to foreign oil Major to take part in their development, as well as the construction of LNG plant at their base, through the transfer of relevant technologies, and risk sharing. At rallies of Gazprom (-1.71%) similar messages affected to a lesser extent, although it was presented with a gift in the form of considering the possible acquisition of Railways with the help of the state railway line cost 130 billion, in which the gas giant has already invested.
The worst of the market against the verdict, the Fed looked shares of banks: Sberbank (-3.64% obyk., scion. -2.17%) and VTB (-4.23%). Serious fire-sale were MMC Norilsk Nickel (-3.62%).
look at today's market:
Russia's stock market will begin Friday, slightly above Thursday's closing values and then, probably after some brief optimism still headed for the testing of medium-term uptrend line and its reversal point, located at 1165 points on the MICEX. The current finding of futures for U.S. indices in positive zone should not be set at too optimistic mood, as it may be only a technical rebound upwards. After trading on Wall Street projections of its disappointing financial performance presented Research In Motion and Hewlett-Packard. Fed after trading in Russia yesterday, as it became known, continued to move in the wake of downsizing programs quantitative easing, the economy, reducing the scale of TAF and TSLF. In addition, monetary authorities consider the possibility of early withdrawal of liquidity through open market transactions involving funds of money market funds. Aggravate the situation, Kevin Vorsha village, a representative of the Federal Reserve, who in an interview with WSJ noted that the regulator should be used to embarking on the completion of programs to stimulate the economy. Strengthened yen, indicating that curtailing operations carry-trade. Oil prices have traded at $ 66.3, which seriously hurts the investment attractiveness of Russia's stock market. From the outcome of the meeting of G20 leaders of some pleasant surprises, it is hardly worth waiting for. Even after yesterday's sales data in the secondary housing market, market participants are skeptical with regard to the expected increase in sales of new buildings. However, for the bulls despite this not a happy picture yet nothing is lost. And in the case of safeguarding the inviolability abroad in 1165 points on the MICEX index will remain for the chance to redeem defeat Thursday in the future. Under great pressure on Friday may remain bank shares. Also today, pay attention to the publication of data on orders for durable goods (16-30) and index of consumer confidence, calculated by the Michigan University (17-55). In Russia, reporting under IFRS for the first half will present Raspadskaya.
Your score will be the first!
Analyst Ratings
Cabinet did not wait for replenishment
Market discount companies
Non-residents in Ukraine have taken a wait …
The fall in stock markets of Asia on Friday due to additional share issue Nomura and statistic data from the U.S.
Indices in the U.S. fell on Thursday due to declining sales of housing futures in positive territory on Friday
UN Security Council resolution could be the beginning of the tightening of sanctions against Iran and North Korea
Today is expected to decrease stock prices although the possibility of rebound in the second half of the trades is not excluded
If oil goes below $ 65 a barrel, the deep correction in Russia's stock market, likely will not avoid
If oil prices continue to decline, the current volatile Comma delimited on Russia's market in the coming days may be replaced by the correction
Friday is full of important macroeconomic statistics, and the quality of which will determine the closing levels for the domestic indices