Markets halt in growth. Before the Fed meeting next week will try to push the market down

Yesterday, U.S. stock indexes made another technical stopover, concluded the day in negative territory. Just down quotes and oil. Russia market, reacting to slip on external sites, also attempted to adjust. Bears more insistently continue to check the strength of the market. The most interesting for shortistov, of course, is greatly raised in recent weeks, Sberbank. His quotes yesterday rollback of almost 5%. With the weakening of the flow of positive macroeconomic information, you can expect to gain correction sentiment in the market. In this respect, the remaining time before the Fed meeting on Sept. 23 provides a bear the opportunity to increase their pressure down. However, the medium-term uptrend in the market is unlikely to be broken, so you should look for opportunities to build long positions, or a new entrance to the market after the correction. Currently, we distinguish 3 of paper that may please their holders better dynamics than the market - MMC Nornickel, VTB and Gazprom.

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price hasty conclusions

Russia

Russia's stock market retreated yesterday from the maximum values of the year: the RTS index has lost 1,24% and the MICEX index fell by 1.03%. Trading volume on the RTS stock exchange was $ 3.74 billion, of which $ 2.21 billion were in the tools of the derivatives market, the MICEX Stock Exchange Section to gain by selling 196.5 billion, turnover in the index amounted to 86.6 billion rubles. Sam MICEX index went back to the mark of 1,200 points (worth just yesterday to talk about her breakdown, like, here you are you had a turn). So early to talk about the breakdown (not to mention GOP until a formal grounds), how early to panic about the global resistance at 1200 and the formation of double peak. The objectives for the short term remain the same: if the MICEX index can consolidate above 1,200 points - the movement of 1400 points, if the bears all the same spaced this resistance - fall back to 850 points in 1100 and 1000, but if 850 points will not stand ( however, there still need to walk) - then indeed double top in order in the lows of last year.

Europe

Stock Indices Old World finished yesterday's trading increased by an average of 1,3%, which contributed a number of positive corporate news and more positive recommendations of analysts.

America

Stock Indices of the New World could have finished bidding (-0,1-0,3%) - neutral macroeconomic statistics on the American economy could not withstand the negative corporate news. Some investors in anticipation of reporting season beginning to shift into bonds in order to avoid the risks on shares.

raw materials, currency and so on

industrial metals on the auctions in London slightly risen. LME Stock Exchange composite index can not pass its resistance level, even more - the index rose substantially in a tight sideways. Gold traded around $ 1010 mark, periodically occurring short protuberances up, but prices then again returned to the track of balanced growth. The U.S. dollar ended the trading session neutral.

Oil prices back above $ 70, that's actually all that can be said about this. Global demand has not recovered: stocks in the U.S. decreased slightly over the summer, but in other countries are at maximum levels, OPEC quotas entirely from the actual production, and after public accusations against Russia, on price competition, the cartel could do to raise the quota to not lose their market share. Top quotes are pushing a monetary liquidity and the interests of major players. Nevertheless, futures for Brent crude traded around $ 71,5, futures mark WTI cost about $ 72.75 (November contracts at 9-30 Moscow time).

Statistics and Reporting

Friday promises to be fairly quiet in terms of an information day: in the 12-00 (Moscow time) is published balance of payments of the euro area, and in 12-30 (Moscow time) leave the data on the amount of public sector borrowing Britain.

Forecast

I look forward to the beginning of trading on the equity market to break down within the limits of 1-1,5% in the continuation of yesterday's downward momentum. Can a neutral external background and oil prices to pull up our market and keep above 1200 points - will be the key issue in today's trading. If we collect together all the statistics, macroeconomic and other data on our country, Russia looks less attractive than other developing countries, especially neighbors in the BRIC. For example, one of the contenders for the role of market gurus post-crisis period, Kenneth Fisher, advising countries on BRIC, emphasized that Russia's actions look overbought. However, there are other opinions: remember quite a favorable opinion of Mark Mobius, and its commitment to invest in Russia to $ 10 billion Accepted to shift responsibility for some of the episodes of growth for the purchase of securities by foreign investors, but buying it is a point-and situationally. This suggests that is unlikely to international investors interested in all our markets - only individual issuers.

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Yesterday

Yesterday is not just Russia was given to investors. On Russia's market was a correction. Nerves of traders do not stand against a backdrop of dull statistics from the U.S. on Russia's stock market to sell out. Weak market look like yesterday's undisputed leader, shares of Sberbank. Paper Bank lost almost 4%. Fixation in Sberbank. not particularly surprising, since this asset was very much overbought. Gazprom, by contrast, seemed an island of stability. Not pleased paper RusHydro. The company's shares declined on the news about the upcoming additional issue. MICEX was unable to overcome until the maximum of 1,226.6 points, the local market went much higher, but close to the levels achieved failed. Thus, the MICEX index fell by 1,03% - to 1205.12 points, RTS index - on 1,24%, to 1231.41 points. The volume of shares traded on the MICEX Stock Exchange amounted to 88.95 billion rubles. Total trading volume on all RTS markets on Thursday reached 77,8 billion rubles.

U.S. Market

The main indicators of U.S. stock market closed with a small minus decline was from 0.08% to 0.31%. During the trading session, indices several times out in positive territory, but in the last 15 minutes of trading, the bulls still retreated. Quotations decrease is due to investor concern that the recent rally in the market is not supported by the prospects of good returns. Bad reporting, Oracle and FedEx leveled a good statistic data. The second-largest producer in the world of Oracle software in the first fiscal quarter (June-August), earned 4% more than a year ago, which coincided with forecasts of analysts, but revenue was below expectations. Quotes of the company fell by 2,8%. FedEx shares fell 2.2%. The company reduced its net profit in the June-August at 53%, while revenue was also worse than analysts' forecasts.

Raw

oil on Thursday fell under pressure from the U.S. dollar, the rate of which began to recover after recent falls. Investors are selling contracts to lock in profits after the price of oil topped $ 73 a barrel this week.

At the end of trading on the New York Mercantile Exchange front-month October futures for light, sweet crude fell 4 cents, or 0,01%, to 72.47 dollars per barrel. Futures for Brent crude on the ICE Futures fell 12 cents or 0.2%, to 71.55 dollars per barrel.

Quotes oil futures are likely to continue to respond to the performance of the dollar and stock markets, which serve as a barometer of investor confidence in the global economy out of recession. This week the dollar fell to a minimum in 2009 against the euro, while stock indexes reached new highs last year.

Asia

On all stock exchanges in Asia, now recorded fall in the main indices of the decline in commodity prices, as well as on the background of a negative close of trading in the U.S.. Pressure on the market has information that Aiful Corp. revising the plan to pay its debts.

Composite stock index Asia-Pacific region MSCI Asia Pacific fell 0.6% in opening trades - up 118.16 points. Japanese Nikkei 225 index dropped to 0.85%. index of wide market Topix - on 0,6%. Korean Kospi rising by 0,8%. Chinese CSI 300 INDEX falls more than 1,5%.

Today

External background before opening the bidding in Russia - a moderately negative

• U.S. indices closed in the small minus;

• Quotations oil are in the morning under pressure;

• Futures on U.S. indexes are traded in small minus;

• Asia demonstrates the negative dynamics;

• Futures on the RTS index in the night session lost 0.6%;

Despite the rather weak external data, we rule out that Russia's traders try to buy the correction after the gap down.

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