September 22nd, 2009

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Substantive session ended FORTS growth of most contracts

Tuesday, September 22nd, 2009

Futures on the RTS index rose for a day on 3,78%, closing at a value of 123 605 points

Substantive session ended FORTS growth of most contracts. During the day, investors have concluded more than 271 thousand transactions totaling $ 1 836 million Number of open positions in futures rose to 2 789 566 contracts, according to Options that number had grown to 972 884 contracts. Futures on the RTS index rose for a day on 3,78%, closing at a value of 123 605 points. Among the leaders of growth today was the banking sector. After raising the recommendations of JP Morgan and UBS shares of Russia's largest banks in Russia have grown, in turn, revived and futures trading. Thus, a contract on ordinary shares of JSC Sberbank of Russia increased by 5,72%, the contract for preferred shares increased by 5,71%. The contract on ordinary shares of JSC Bank VTB podrozhal at 4,62%. Also looked good deal on OAO Gazprom (3.71%) and a contract for shares of MMC Norilsk Nickel (4.21%).

Data on the weakened dollar and the recovery in oil prices played in the currency and commodity markets, different direction. The contract for oil varieties BRENT gained 2,56%, rising to $ 70.05. Also, continued growth and contracts for precious metals: gold and silver rose to $ 1019.80 and $ 17.17. Euro and the ruble strengthened against the dollar. The contract for the dollar-ruble fell by 1.16% to 30 694. The contract for the euro, the dollar rose 0.94% to 1.4779, and the contract for the euro-ruble fell by 0,26% to 45 371. While Russia's market plays with the news. The next indicator will be tomorrow's Fed meeting and the meeting of twenty.

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The court suspended the sale of the Odessa port plant on the suit Dniproazot

Tuesday, September 22nd, 2009

Kyiv District Administrative Court suspended the tender for the sale of the Odessa port plant (IPF, Odessa Oblast) on the suit, a major producer of mineral fertilizer company DneprAzot (Dnepropetrovsk). Told counsel DneprAzot Alexei Nizhnik.

According to him, on Tuesday a court in support of a previously filed DneprAzot action suspended announcement of State Property Fund of the competition, forbade the SPF and the tender committee to hold the competition on sale of IPF, and allow the company Nitrogen-Service for the contest before the court decision on this case in fact.

In the suit, DneprAzot seeks repeal approve the terms of the competition on sale of SCR the Cabinet of Ministers № 261-r dated February 11, 2008, and the decision to hold FGI Sept. 29 competition on sale of the plant.

The company argues the claim that in the preparation of IPF was allowed to sell a number of violations of the law (in environmental impact assessment, publications reporting enterprise, the study of the demand for it), in addition, an application for participation in the contest gave the company Nitrogen-Service More than 25% in the authorized capital of which is controlled by a foreign state, which, according to Nizhnik, also contrary to law. Click to continue »

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Pala mark 1.48

Tuesday, September 22nd, 2009

So, today the euro-dollar mark successfully broke through 1.48. Although yesterday the euro-dollar has been declining up to 1.4609. The Dow Jones closed down yesterday, falling to 0.42%, at around 9778, and the price of WTI crude oil decreased to 69.0 dollars per barrel. Today the Dow futures show an increase of 0.58%, while oil prices rose to U.S. $ 70.61 Euro-dollar showed a maximum at around 1.4820. Thus, yesterday's correction in all markets was a mere dummy, the collection stops before the final breakout mark 1.47. Now, technically there is no doubt that the zone of resistance in the December peak could not keep the euro on growth. No need to say that the analytical tapes can not yet put forward clear explanations antidollarovomu the ongoing rally in the market and pretend that nothing special happens. As a rule, closer to the end of a trend, a global explanation is, and the fact that it is not, suggests that the motion did not pass even half of its path. We believe that the short-term trend in the dollar's decline began in early September from 1.42 marks. Technically, the euro after a false break back in uplink and now moves to the top of its border. Click to continue »

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Boris Berezovsky, charged with forming a criminal association to commit serious crimes in the sphere of economy

Tuesday, September 22nd, 2009

During the investigation of the criminal case against Boris Berezovsky, the investigators had reason to be changes and additions to the charges.

A preliminary investigation revealed that Boris Berezovsky during the period from 1991 to 2001, acting with the direct intent, has created a number of relatives and friends of his criminal association with a view to committing serious crimes in the economic sphere in Russia and for the its limits and managed according to a criminal association, told reporters on Tuesday, Vladimir Markin, a spokesman for the Investigative Committee of the Public Ministry of the RF (UPC).

To this end, Boris Berezovsky, himself, personally and through his friends created a network of business which, under the guise of customary financial and economic activities used by a criminal association for the systematic commission of crimes of a transnational nature, namely, property theft and its legalization. These companies are commercial organizations that created both within Russia and in several foreign countries, including Luxembourg, Cyprus, Switzerland, the British Virgin Islands, Gibraltar and the Isle of Man.

The criminal community, led by Boris Berezovsky, has committed several serious crimes:

- legalization in the period from 1994 to 2001, cash received as a result of theft of property AVTOVAZ;

- theft by fraud in the period from 1996 to 1997, the funds belonging to Aeroflot, worth about 215 million rubles;

- theft by fraud in the period from 1996 to 1999, funds belonging to Aeroflot, amounting to more than 227 million rubles;

- theft by fraud and legalization in 1997 of funds belonging to Bank of SBS-Agro , amounting to more than 79.5 billion non-denominated rubles. Click to continue »

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Weekly review of world financial and commodity markets

Tuesday, September 22nd, 2009

Market Overview

The last week the U.S. stock market has brought new highs this year (code SP500 got to 1073 points), but closer to the completion of the optimism of players pretty diminished, beginning the long-awaited correction of the September, which today received its more active development . Nevertheless, sales in the U.S. stock market is not yet beyond the normal profit-taking after reaching the next local maximum and therefore the thesis of the need to close all long positions and play short now seems, in our opinion, very doubtful. However, objective assessment of this idea will only be up to the closing of the week.

key event which began five days will be a regular meeting of the U.S. Federal Reserve, which will be announced on Wednesday (23/09). The focus of investors, of course, will focus on the final communique, as raising the discount rate in the face of continued difficult situation on the labor market and the extremely low level of loading capacity seems almost incredible. Accordingly, if the Fed suddenly shift the emphasis in risk assessment of economic growth and inflation in the direction of the latter and will report on the decommissioning program buy UST, and the gradual completion of other programs to support liquidity, market risk assets (stocks of developed countries, raw materials, the whole spectrum of instruments in emerging markets) is waiting for a very energetic sale of capital flight to quality (the U.S. dollar, UST). On the other hand, if investors will gain confidence that the Federal Reserve in the foreseeable future is not going to tighten the screws (lack of clear guidance on the completion of the incipient super-soft stance because of the inherent optimism, most people are likely to be interpreted that way) the game to increase in risky instruments can flare up with renewed vigor. The main driving force in this case are those investors who missed most of the growth in 2009 and is now being forced to invest in more volatile assets in order to catch up with market profitability.

In addition to meeting the next meeting of the Fed's major event this week and will be a G-20 summit in Pittsburgh, which also will be largely devoted to finding a compromise between the further promotion of economic growth and the need to normalization of public finances in many countries as a consequence of this very Incentive earlier. Accordingly, the predominance of rhetoric in favor of continuing the active anti-crisis policy will be very welcomed by the stock and commodities markets, while focusing attention on the problems of inflation and soaring fiscal deficits, by contrast, results in the withdrawal of investors from the risk in the quality. Also, do not forget and macroeconomic data, of whom this week is not so much. Nevertheless, going into Friday in August orders for durable goods and sales of homes in the primary market, in our estimation, may well bring positive surprises.

Thus, we do not expect changes in the uptrend in the U.S. stock market this week, although it may be reduced SP 500 index on Tuesday or Wednesday before 1030-135 points that we believe, rather, will a good opportunity to buy rather than a last chance to sell expensive. In that case, if the Fed meeting and the G-20 will not bring confidence to the market in the near completion of enabling monetary and fiscal policy (we believe it is in it), the positive expectations of corporate accountability for the III quarter will ensure continued growth of SP 500 index, which in the next 2-3 weeks will be able to reach the psychologically significant milestone of 1100 points.

Industry and corporate news

Recently oil market is consolidated in a fairly narrow range, the result of which could be a very drastic move. The answer to the question which side we might get this week.

The main objective for the bulls to gold market now is to preserve the quotation above $ 985-990 for the week. If they fail, the probability of further decline in prices for precious metals will increase.

Oil and gas

Last week, oil prices rose along with the stock market and weak dollar, but earlier this week the situation changed. Yet more plausible is the view that the price of oil fall back to level at $ 60 per barrel in the near future. This confirms the statement by Bank of America about the high price of options on oil-based decline in the value of oil stock, against the desire of traders to reduce risks to the probable collapse. Recently, crude oil is traded in a range of fairly hard, and maybe this week will be scheduled towards the exit from it. Strong level of support is about $ 65 a barrel. Click to continue »

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Recommendations for market shares: LUKoil, Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank

Tuesday, September 22nd, 2009

Lukoil

trend Short Medium Long Term
neutral improvement lowering
level of support 1560 - 1590 1490 - 1550 1150 - 1270
Resistance 1690 - 1710 1730 - 1800 1830 - 1980
Recommendations Bring to stop an application to market prices.

Norilsk Nickel

trend Short Medium Long Term
improvement improvement lowering
level of support 3450 - 3530 3160 - 3440 2370 - 2700
Resistance 3770 - 3810 3900 - 4070 4150 - 4340
Recommendations Bring to stop an application to market prices .

Rostelecom

Short

trend Medium Long Term
lowering neutral lowering
level of support 147.20 - 148.80 137.70 - 143.40 132.70 - 137.60
Resistance 156.10 - 157.70 165.10 - 168.70 177.10 - 184.40
Recommendations No position.
Notes Paper resold locally.

Gazprom

trend Short Medium Long Term
improvement improvement lowering
level of support 168.50 - 172.20 158.30 - 165.00 121.70 - 134.80
Resistance 183.30 - 185.20 189.60 - 196.70 200.50 -- 207.50
Recommendations Bring to stop an application to market prices.

Mosenergo

trend Short Medium Long Term
improvement improvement lowering
level of support 2.490 - 2.620 1.900 - 2.110 1.510 - 1.760
Resistance 3.090 - 3.190 3.230 - 3.480 3.380 - 3.700
Recommendations Bring to stop an application to market prices.
Notes paper locally bought out.

Surgutneftegaz

trend Short Medium Long Term
neutral improvement lowering
level of support 24.90 - 25.50 24.60 - 26.20 18.60 - 20.60
Resistance 28.00 - 28.60 29.00 - 30.20 30.00 - 32.80
Recommendations Bring to stop an application to market prices.

Savings Bank

trend Short Medium Long Term
neutral improvement lowering
level of support 52.60 - 54.00 48.70 - 52.80 32.40 - 37.80
Resistance 59.90 - 61.30 65.80 - 68.20 71.50 - 77.20
Recommendations Bring to stop an application to market prices.
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Banks ask the state additional billions

Tuesday, September 22nd, 2009

After two months of work Rodovid Bank, Bank Kiev and Ukrgasbank under the state wing, it became clear that government allocated 9.5 billion hryvnia in their financial improvement is not enough.

So, yesterday, the chairman of board of bank Kiev Yuri Maslov said that the bank needed an additional 1,5 billion hryvnia. The bank is now in a position doformirovaniya reserves. We think that the bank needs additional capitalization, after this amount is estimated at 1.5 billion hryvnia, - he said. Recall that in July, the government invested in the bank's capital Kyiv 3,6 billion hryvnia.

earlier with a similar request to the Finance Ministry has asked executives Rodovid Bank, in the capital of which Cabinet has already started more than 2,8 billion hryvnia. True, Rodovid Bank has requested a little less Kiev - 1 billion hryvnia. Reason needs dokapitalizatsii same - doformirovaniya need in allowances for bad loans.

third of the government to recapitalize the bank - UkrGasBank, which received from the Government of 3,1 billion hryvnia, could also ask additive. According to the press-service bank, currently the international auditing company PricewaterhouseCoopers conducts financial analysis Ukrgazbanka and determine the amount necessary to dokapitalizatsii financial institution.

The Finance Ministry said that the banks will allocate the requested amount, only if it is a good reason. Click to continue »

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Current growth in Russia's market may be replaced by sales in the second half of the day

Tuesday, September 22nd, 2009

 
  
 
 
  22.09.09 12:58 ;
  Before the opening of trading on Tuesday for Russia pads formed moderately positive external background. Trades in the United States ended a slight drop, most Asian stock exchanges in the morning haggling with the growth of the main indexes.

As a result, gap up opening on the MICEX index was 1%. By 12.50 the MICEX index was 1188.89 points, adding 2.04%. RTS is growing at 1.63% and amounts to 1230.35 points. The positive dynamics of trading in Europe supports the growing trend on domestic exchanges. The FTSE adds 0.99%, the index DAX - 1,24%, CAC 40 index increased to 1.05%.

In leaders of growth in the early hours of yesterday's trading were outsiders - representatives of the banking sector. By the time the current preferred shares of Sberbank added 4.3%.

On the background of correcting up oil quotations in the green zone shares traded oil and gas companies more than others when it added the paper Novatek (4%). Investors win back information about the possible involvement of residents in the projects of the company on the Yamal Peninsula. The same news pushes up quotes Gazprom's shares rise to 2.68%. Rosneft in positive territory at 2.43%, Lukoil - on 0,93%.

In the market of metals copper and nickel are growing, supporting the metallurgical sector. Norilsk Nickel is growing at 1.73%, Polyus Gold adds 3%.

The worst of the market still traded shares RusHydro (1,12%), BRIC (1.16%) and Rostelecom (-0.21%). Click to continue »

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Copper and nickel are added 0,5%, supporting the steel sector: Norilsk Nickel is growing by more than 2,5%, PolyusZoloto - on 2,3%

Tuesday, September 22nd, 2009

Technical rebound after a deep correction creates the illusion of an upward trend

Yesterday, U.S. markets showed raznonaprvlennyu dynamics in the absence of a specific trading ideas. As a result of the auctions the index of blue chips Dow Jones Industrial Average fell by 0,4%, and totaled 9779 points. The index of wide market SP 500 closed lower by 0,3%, near the mark of 1065.

determining ambient background Russia's stock market, the Asian sites are also showing a mixed trend. Australian index SP/ASX200 symbolically reduced to 0,1%, Chinese CSI to 0,1%, New Zealand's NZX 50 at 0.3%, Hang Seng index in Hong Kong adds 0,4%.

In the absence of a coherent trend in the global market, the dynamics of domestic quotations determines predominantly commodity platforms. The main indicator, the price of black gold, rises to 0.74% for Brent crude and 0,85% - Light. Following them, after correction for more than 3%, lifted quotes on shares of oil companies. LUKOIL adds 0,93%, 0,7% Surgutneftegaz, Rosneft 1,53%. Such a strong volatility is still pointing to the lack of liquidity and strong speculative component.

Metals: gold, copper and nickel added more than 0,5%, supporting the metallurgical sector. Norilsk Nickel is growing by more than 2,5%, PolyusZoloto adds 2,3%.

Futures on the dollar continues to decline, currently reaches more than falling 0,58%, that for this contract is uncharacteristically high amplitude. On the other hand strengthening of the ruble is good for the financial sector. Sberbank shares added more than 3%, VTB 2,7%.

treated Ambiguous statements by officials around the company RusHydro. On the one hand the loss SSHGES may reduce profit by 30%, on the other side of the reported 40 billion rubles for the restoration of the station, the company asked a state support of 19,3 billion, which indicates a good financial stability RusHydro.

A significant statistics from America and Europe today is not expected. But amid the increasing amplitude correction for the opening of long positions, we recommend you wait for the penetration of local maxima. Better the market now look: the shares of Gazprom, Norilsk Nickel, Rosneft, and FSK.

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Exchange rate of dollars saved without changes - the morning review of cash markets

Tuesday, September 22nd, 2009

22.09.09 condition at 10:00 the Kiev Banks and Items of currency exchange (CEMs) are most often purchase 1 USD at the price of 8.5000 UAH, that is no different from yesterday's rate and the offer price 8.5500 UAH, that it is cheaper to 5.00 kopeks.

Offers

Banks and Brokers to purchase 1 USD fluctuate within 8.4000 - 8.5200 UAH.

best offer to buy 1 USD at this time set in the following Banks and Brokers:
8.5200 UAH - EUROGASBANK;; IMEXBANK KB;; Financial Initiative;; Unexbank number 1;; Absolute ;;
8.5100 UAH - Legbank;; National Capital;; PRIME BANK;; Nick;; Skrinka-2005 № 9;;

Offers

Banks and Brokers to sell 1 USD fluctuate within 8.5500 - 8.6000 UAH.

best offer on sale of 1 USD at this time set in the following Banks and Brokers:
8.5500 UAH - VAB Bank;; Aktiv-Bank;; Diamantbank;; EUROGASBANK CO;; Golden Gate KF,; IMEXBANK KB;; National Capital;; Poltava-Bank KB;; Trust-Capital;; Pivdencombank KF;; Unexbank;; Akroprom;; Arsenal;; Artada;; EURO;; margin;; Skrinka-2005 number 9; ;
8.5600 UAH - Bohuslav;; Prominvestbank;; Nick;;

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Today, most Banks and Brokers kept buying and selling rate of 1 EUR to the level of yesterday. Buying rate was 12.5000 UAH, sales - 12.6000 UAH.

Offers

Banks and Brokers to buy 1 EUR ranging 12.2000 - 12.5100 UAH.

best offer to buy 1 EUR at this time set in the following Banks and Brokers:
12.5100 UAH - Legbank;; Absolute;; Akroprom;; Arsenal;; Nick;; Skrinka-2005 № 9;;
12.5000 UAH - Aktiv-Bank;; Business Standard;; Bohuslav;; Globe;; Daniel;; EUROGASBANK CO;; Golden Gate KB;; National Capital;; PRIME BANK;; Poltava-Bank KB ;; Financial Initiative;; Pivdencombank KO;; Pivdencombank KF;; Unexbank;; Unexbank number 1;; Artada;; EURO;; margin;; SDUSHOR-Kiev;;

Offers

Banks and Brokers to sell 1 EUR ranging 12.5700 - 12.7100 UAH. Click to continue »

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