July 1st, 2009

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The authorities of Latvia reduced the pensions and salaries of civil servants

Wednesday, July 1st, 2009

President of Latvia Valdis Zatlers has signed the law On payment of government pensions and allowances during the period from 2009 to 2012., a reduction in retirement benefits for non pensioners by 10%, employees - 70%, and allowancesfor working parents - 50% , the press service of the Head of State Administration.

In the first two positions of the law comes into force on 1 July and will run until 31 December 2012, on the benefits - in the period from 1 Jul., 2009 to May 2, 2010 The family state benefit for this period will be 8 LVL per month (11.4 euros) for each child, regardless of the number of children in the family.

parallel with the July salary will be reduced to working in government and public sector. Wages, which are before taxes do not exceed 300 lats (428.5 euros), reduced by 15% and higher than - 20%.

data reduction does not affect only the teachers, whose salary is governed by separate regulations. And in the Interior of a decrease of 20% will affect everyone.

Overall reduction in salary by 20% to affect 79.5% of the institutions financed from public funds as their salary before tax exceeds 300 lats. Click to continue »

In the domain shop undergoing repairs CMI basic equipment

Wednesday, July 1st, 2009

The fourth blast furnace OAO Magnitogorsk Metallurgical Combine completed the replacement of sinter roar. The purpose of the activities - enhancing the effectiveness of screening and the increase in dropout rates in the sinter fines. Reduced output stuff in today's environment provides an important economic impact, will reduce the consumption of iron on iron. The general contractor, he CJSC Metallurgremont-1.

Not so long ago, after the overhaul of second-level blow blast furnace number 8, which was in October last year. At the furnace had been replaced by housing and the shaft of the dome, rebuilt the entire system of cooling the furnace. This will allow the blast furnace to work out at least five years without major repairs - to the capital the first level. The general contractor repair eighth blast furnace also has ZAO Metallurgremont-1. Manufacturing equipment cooling implemented JSC Mehanoremontny complex. Today the shop employs seven blast furnaces, which guarantees the fulfillment of the production program in June, which is almost 700 thousand tons of pig iron. Click to continue »

The level of support for a fixed term for the RTS index of execution in September so far - 93 500 (90 770)

Wednesday, July 1st, 2009

The Russian market on Tuesday fell under the influence of external factors. Prices of most of Russian liquid shares on the basis of trading session on the MICEX fell to 0,6-4,5%. The positive external background prevailed during most of the day, has changed dramatically under the influence of American statistics.

became stronger dollar. Come on down quotes oil. This led to a drop in equity markets.

RTS Classic market has not had time to react to what is happening. As a result, as a result of trades on the RTS index rose 3.74%.

For most of the trading session, leading to increase in price of securities of the oil and gas sector. Shares of banks traded lower market against the backdrop of negative predictions about the growth of their overdue loans and the need dokapitalizatsii sector.

insecurities and desire to continue a record of revenue growth from the market (since February) has been fully implemented, under the pretext of talking about the fact that the restoration of the world's largest economy is difficult.

Financing of the monetary system leads to its conservation, but are not yet closer to the restoration of production, because the global consumer has no sources for consumption that can produce excess capacity. This resulted in a sharp decline in world oil prices. Thus, this important factor in the Russian stock market will disappear. And talk about that in order to maintain the expenditure budgetcan be managed by regular devaluations have led to increased risk and, thus, resulting in growth of the dollar.

levels of resistance and support for today, July 1

Term contract for the RTS index of execution in September:

The level of support for today - 93 500 (90 770).

The level of resistance - 97 000 (99 900).

RTS

- support 930 (905);

- resistance 960 (995).

GAZPROM

- Support 156r.; 148r.;

- resistance 163r.; 169r.

GMKNN

- Support 2770r.; 2650r.;

- resistance 2957r. 3140r.

Company

- Support 1340r.; 1280r.;

- resistance 1430r.; 1460r.

Rostelekom

- Support 150r.; 143r.

- resistance 174r.; 204r.

Rosneft

- Support 165r.; 161r.;

- resistance 175r.; 184r.

bank on.

- support 36.60r.; 35.60r.;

- 40.70r resistance.; 43.70r.

Sberbank Ave

- support 24.70r.; 23.00r.;

- 26.70r resistance.; 28.40r.

Surgutneftegas

- support 19.65r.

- 22.50r resistance.; 23.60r.

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The Russian market continues to move in within the top-down trend

Wednesday, July 1st, 2009

Good day. Following Tuesday quotes of most securities of domestic issuers have experienced decline. MICEX index lost 1.79%. The volume of trades increased slightly.

The opening bid was held yesterday with gepom up, after which the market spent most of the day in the vicinity of 1000-1010 points on the MICEX index. The main movement occurred in the evening, when sales had led to a decline in the region 970 items on the MICEX index.

From the technical point of view, the reduction can be attributed to a reflection of the MICEX index down from the upper border of the channel, constructed from the highs of June.

Thus, the market continued downward movement in the trend. Signaled to the sample output above trend will be 1010-1030 points on the MICEX index. The objectives of growth in this case located in the vicinity of 1050, items 1080-1100.

Opening bid today alleged in the neutral zone, or with moderate gepom up. The nearest resistance is located in the vicinity of 1000 points, where possible in order to sell 950, then 920 points on the MICEX index.

U.S. stock indices closed auction Tuesday moderate decline. As an excuse for sales made by the negative data on consumer confidence index for June. The indicator fell to 49.3 points from 54.9 points. In doing so, the consensus-forecast of the projected growth to 57 points.

At the same time to bid in the Asian tendency to zatihaniyu sales, which may provide support to domestic buyers at the opening of tenders in Russia.

Futures on the SP 500 yesterday reflected on a key resistance level at 930 points, then found support in the region of 915 points, which presumably is in favor of another 930 test points. 930 sample points will lead to a return to the range of 930-950 points.

Futures on the RTS index in the course of the evening trading session found support in the region of 93 500 points. In the event of a resumption of sales objectives are to reduce the area of 92 500, 91 500 points. The immediate objective rebound upwards - District 95 000-96 000 points.

Today, the market will affect the following news:

- 16.15 Moscow time change in the number of employees in non-agricultural sector of the ADP. The rate of interest in anticipation of the publication of comprehensive data on the labor market (Thursday, 16.30 Moscow time);

- 18.00 Moscow time index of business activity in the manufacturing sector, data on the dynamics of the construction cost, pending sales in the housing market;

- 18.30 Moscow time data on oil and petroleum products.

External neutral background. America closed the decline, oil and gas sector in the market, the financial sector in the market. Asia trading raznonapravleno.

Final recommendation:

Investor - out of the market;

speculators - playing sales.

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Today the euro once again will attempt to gain a higher level of 1.4100

Wednesday, July 1st, 2009

On Tuesday the dollar was able to partially restore lost earlier position, the weakening of European currencies began with news of the UK. Published in early European session, the data indicator of consumer confidence index and house prices have been interpreted as signs of approximating the output of a recession, but followed shortly on a change in GDP for the first quarter showed a decrease of 2.4% - the highest value since 1958 this the news has led to massive profits for a fixed pair Pound /dollar, achieved by the time 8-month peak at around 1.6742, which, in turn, led to a significant rollback of the British currency to a minimum 1.6421. Nevertheless, the totality of available data, as the British economy has enabled Paul Robinson, one of the leading foreign exchange analysts Barclays Capital, the possibility of achieving a couple of pound /dollar level of 1.80 by the end of the year.

The single currency in the European trading session, has overcome the level of 1.41 and reached a 2-week maximum of 1.4151, but was not able to consolidate at this level for long, and early in the American auction went to the rapid decline - it was caused by the low value of the indicator of consumer confidence in the United States (49.3 against the projected value of 53.3), which has also led to a sharp drop in the quotations for American securities markets. The rapid growth in demand for the dollar as a currency of refuge resulted in a rollback of a pair of Euro /Dollar 1.3999 to a minimum. Click to continue »

The reduction of American yards and energy prices bears were able to lead the market in negative territory

Wednesday, July 1st, 2009

Byche morning, backwater Evening

Today's auction at the Russian sites have opened with gepom top, then in the first half hour of trades bulls was able to extend the market above the level of 1010, then began corrective movement on the background of declining prices for energy. As a result, the output statistics from the U.S. market down to levels of discovery. Statdannye lent forces Bear. If the output of positive data on an index of business activity association managers in Chicago (Chicago PMI, is 39.9 points, expected 39 points) did not change the balance of power in the market, it is published in 18.00, the statistics on an index of consumer confidence (Consumer Confidence, of 49 , 3 points, expected 55.3 points) ruined the mood of investors, as stock markets or commodity markets. As a result, the reduction of American yards and energy prices, bear able to lead the market in negative territory. At the close of the market was worse than the paper Rostelekom and Sberbank, a decline which was 4.5%. The company he was Norilsk Nickel, Polyus Gold and Surgutneftegas drop which amounted to 4%. Better market finished the day Tatneft (4.5%) and Mosenergo (0.77%). At the end of the trading the MICEX index lost 1.8%, ending the day at 971.55.

Yesterday's withdrawal from the short-term consolidation between the levels of 950 - 988, identified the dynamics of today's opening, but did not give the medium-term direction of motion. This index has not reached a resistance level at 1020. The way he blocked the upper limit of the downstream channel, which is the index tested in the morning. The decline probably will continue in the near future. The reason for this could be a macro-economic statistics from the United States, the big bags which come in the next two days. We continue to recommend players to refrain from opening long positions. In doing so, given the rebound down on top of the channel is likely to have opportunities to shop neskoro.

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