September 7th, 2009

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Goskomstat: Deflation in Ukraine in August accelerated to 0,2%

Monday, September 7th, 2009

Consumer prices in Ukraine in August 2009 decreased by 0,2% compared with a decrease in July at 0.1% and growth in all the preceding months of the year: in June - by 1.1%, May - 0,5 %, April - 0,9%, March - 1,4%, February - 1,5% and in January - 2,9%, the State Statistics Committee reported on Monday.

According to him, since the beginning of the year, consumer prices rose by 8,2%, while during the same period last year - by 14,8%.

in August for the first time in the past few months has slowed, and 12-month inflation (month of the year in relation to the same month last year) - up 15.3% from 15.5% in July, 15% - June and 14,7% - May. This is due to the fact that in August last year, prices declined more slowly - by 0,1%.

As the State Statistics Committee, in the consumer market in August, prices for food and soft drinks declined by 1.2%. Most of all (by 15,3%) cheaper vegetables, including carrots - by 23,3%, potatoes - by 18.3%, beet - by 16,2%, onion - by 11,3%.

significantly dropped the price of fruit - on 8,2%, including bananas - by 16% and apples - to 13,5%. Click to continue »

Better the market today may look like paper gold mining companies, the rising gold futures

Monday, September 7th, 2009

main risk of the current session will be the oil futures

After the closure of the negative market on Friday, Russia's foreign background has improved, which contributes to the opening of trading on the positive territory. Closing of the American market was held in positive territory, above levels at which culminated on the eve of trading on domestic platforms. This fact would support a wave of buying at the opening. U.S. index futures traded in the lateral canal, in a symbolic minus, that is not conducive to active actions of Russia market participants. Futures on the SP 500 index broke away from the psychologically significant mark of 1,000 points, which reduces the risk of penetration of the medium-term trend is down. The commodity market will also support the optimism: oil futures added more interest to the weakening U.S. dollar. Another factor contributing to the purchase at the opening, the course will be bidding for sites in Asia, where there is bullish sentiment. ADR issuers Russia's stock closed at higher levels than the actual paper before, which also contributes to purchases.

After a positive opening of the tenders will be held fairly quiet due to the lack of publication of important statistic data. Trading on the U.S. stock market today will not be undertaken due to the celebration of Labor Day.

Bullish sentiment will keep the dynamics of futures for oil - black gold of Brent still traded below the psychologically important mark of $ 70 per barrel, which is not conducive to the formation of active purchases.

During the week expected a relatively small amount of statistics that can significantly adjust the course of bidding. So in the case of maintaining the current situation in the commodities market, Russia's market can continue to consolidate at current levels.

At the beginning of today's session, the MICEX index may test the 1,100 points mark, but the positive closure of the U.S. sites for the penetration of this level is likely to be insufficient. Level of support can make 21-day moving average (1085.74 points), which took place near the closure of the MICEX Index on Friday.

interest today is the dynamics of Sberbank shares have risen on the eve of a mark above 56 rubles. but closed as a result in positive territory after the symbolic change of mood. Probably, the shares of Sberbank were left without support, that will not contribute to their rapid growth today.

Shopping in the papers of oil and gas companies may be rather moderate, due to low prices for black gold. The immediate resistance for the shares of Gazprom is a 21-day moving average, which passes near the mark of 159 rubles.

Better the market today may look like paper gold mining companies, which may continue to rise against the background of growing gold futures, traded near a mark of $ 994 per troy ounce. Shares of Polyus Gold may rush to the psychologically significant mark of 1,300 rubles.

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The situation on the currency market, where the dollar is losing ground against the euro, promotes interest in the commodity assets

Monday, September 7th, 2009

Last week, Russia's stock market behaved quite volatile. Active struggle has developed over 1,100 points mark for the MICEX index, which eventually left for the bears on the background of disappointing U.S. statistic data. MICEX over the past 5 trading sessions, fell by 2.32% to 1,085.58 points, the RTS lost 2.38% to 1,063.57 points.

I must say that the key publication of the last days - the August report on the U.S. labor market - has been controversial at the sites. If Russia's markets came under pressure against a background of rising unemployment across the ocean to the 26-year high at 9.7%, while European and American investors chose to draw attention to a smaller than expected, reducing the number of jobs outside agriculture. Thus, it is possible that today, in the absence of trades in the United States, where the celebrated Labor Day, the domestic market will also revise his view of the publication and will play its positive components.

this scenario is followed by Asian markets, which on Monday morning prevail purchase. Additional support for the domestic stock indexes at the opening may have oil rising in price. The situation on the currency market, where the dollar is losing ground against the euro, promotes interest in the commodity assets.

This week, investors' attention will be directed to the OPEC meeting, which will be held on Wednesday, September 9. Most likely, the cartel will take a wait and call on countries to a more strict adherence to previously established production quotas. However, this scenario is already embedded in the price of oil, so the serious decline of quotations in this case is not expected. Thus, the oil market, and consequently, on Russia's indexes can affect any unaccounted surprises from OPEC, for example, hints at the decline of production in early 2010

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Prime Greece promised speedy economic recovery

Monday, September 7th, 2009

Greek Prime Minister Costas Karamanlis gave a start to the campaign in parliament, pledging tough measures to restore the economy after the crisis.

Ahead of two very difficult years. Therefore, we must immediately implement the necessary policy measures, not only to overcome the crisis with minimal impact, but also to lay a solid foundation for lasting development, - said Karamanlis, speaking at the opening of the International Fair in Thessaloniki .

Karamanlis on shedding week has called for early parliamentary elections on October 4. For the prime minister and his party, New Democracy, elections will be difficult because of the lag in the polls from the opposition.

My goal was to finish the four-year government and hold elections in 2011 - said Karamanlis. According to the Greek prime minister, declaring the elections two years ahead of schedule, he was forced, after the opposition has promised to use the procedural issues in order to achieve the election no later than spring 2010.

Karamanlis described the effects of the crisis for the Greek economy. Thus, revenues have fallen sharply in two key sectors - tourism and merchant marine. The slump showed consumer demand, as well as production, exports, trade and construction sectors. Were affected budget execution, increased debt and deficits.

International organizations (European Commission, OECD, IMF) predicting a small recession in Greece in 2009 and is slowly emerging from the crisis. Click to continue »