Russia market opens on Wednesday in a neutral territory: the positive dynamics of quotations of oil futures to offset a sharp decline yesterday. However, as soon as the decline in oil prices resumed, Russia's indexes also made their way down, as a result of the MICEX index in the middle of the session has reached 1 100 points, which moved in a sluggish consolidation. The next wave of decline began after five hours of the day, the MICEX index dropped to 1,085 points. Good statistics on the real estate market, published in the United States, supported the bull, however, rebound limited return to the levels of mid-day, in closure of the MICEX index was 1 099.77 points (-1.44%), the RTS 1 072.05 points (-2.81%).
outsiders against the background of weak commodity markets are oil and gas sector (MICEX OG -1,47%) and metallurgy (MICEX MM -1,45%). Losses incurred shares of oil companies (obychka Tatneft -3.34% -2.09% Lukoil, Rosneft -1,66%). The consolidated statements of Gazprom (-0.96%) for 1 square. 2009 was higher than expectations, failed to provide serious support to the shares of the company - the influence of the external background proved to be stronger. Our position in respect of shares of Gazprom, in spite of good reporting, remains unchanged: a large gap in production and reducing demand for natural gas remain the main factors, which indicates the weak attractiveness of the company. At the general background, the shares of Transneft (5.74%) due to information that earlier period could be completed pipeline BPS-2. In metallurgy strong rehabilitative decrease occurred in the shares of NLMK (-5.08%), worse than the market looked MMC Norilsk Nickel (-2.44%) and Polyus Gold (-2.83%). Better the market looked like the telecommunications sector (MICEX TLC 0,81%), where he continued selective purchases in shares of MRK whereby prefecture Uralsvyazinform soared 9.43%, and the prefecture Sibirtelecom added 8,85%.
Expectations for today: oil prices, although a few batted from the lows yesterday, do not look too optimistic, but the Asian markets dominated by the sale. In these conditions, Russia's indexes in the morning is likely to resume movement toward the lower boundary of steady lateral range for the MICEX index is the nearest support 1 070 points. More distant prospects continue to look not too bright, a marked reluctance of investors to win back any positive news, in sharp contrast to the unbridled optimism of spring, and continues to gradually increase the lag indices from Russia's western markets resemble the possibility of a more substantial correction in the coming weeks.
Today in the United States will be published the revised estimate for U.S. GDP to 2 square. Despite the fact that preliminary results were positive, the change rate may be revised for the worse, so that the risks for the U.S. market at today's auction will certainly be present. Also, come out and data on unemployment and labor market, the report shows the U.S. Federal Reserve, still concerned about the U.S. government. But, nevertheless, bulls still can today to try to persuade the market situation in their favor.
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