On Thursday, Russia's market has adjusted before the next wave of growth

Written by admin on October 15th, 2009

 
  
 
 
  15.10.09 20:27 ;
  On the positive external background on Thursday Russia's share platforms opened with gepom up, but hold onto positive territory they failed, and the indexes began to slide down. By 12.50 Moscow time the MICEX index declined by 0.19% and stood at 1360.15 points, the RTS index was trading at around 1449.58 points (0.58%).

For most liquid market today, there was profit-taking. Losers were made of paper BRIC (-3.76%), RusHydro (-4.95%), Sberbank (-4.11%) and VTB (-3.91%).

Among the blue chips today have shown steady growth, only the paper Gazprom Neft, which during the bidding could get closer to its historical maximum - 190 rubles per share. As analysts say, is the only paper among the liquid, which reached its historical maximum. However, later the company withdrew the paper and ended the day on a mark 171,9 rubles, losing up to 1,04% of the day. Supported by high prices for cheese in the black paper were able to complete auction, Rosneft (0.3%), Tatneft (1.86%) and prefecture Surgutneftegaz (0,88%). Well plussis completed daily paper NLMK, which quotes added 3,28%.

There was a regular fixation in securities generating companies, is due to the fact that shares of the sector grew strongly in the not very positive background. Also, after yesterday's growth adjusted telecom.

Left better than analysts' expectations of the results of U.S. banks Goldman Sachs and Citigroup in the third year kvartal2009 not to seriously support the market. The favorable data on inflation and the labor market and the U.S. did not cause a special surge of optimism among investors. As a result, the outcome of the day the RTS index fell by 0.48% to 1434.35 points mark. MICEX Index finished trading in the minus to 1,56% to 1341.64 points. In the coming days, probably all the correction will be bought, a serious decline will not be. Just a lot of factors that could affect investor sentiment: tomorrow and next week will be published corporate reports in the U.S., so it is unlikely that such a background will be some strong decline. Most likely, we will see a partial profit-taking, then the growth resumes. The fact that a number of players in such amounts out of the market suggests that the peak of the market not too far off, and in the medium term in the next few weeks, we might expect a more serious subsidence. And the current term - correction, most likely, will be purchased , - says Konstantin Gulyaev, director of equity IFD Kapital.

In the evening session on FORTS December futures on the RTS index increased to 1.16% and amounts to 144000 points. Futures for shares of Gazprom and LUKoil added 0,87% and 1,3% respectively, and futures for shares in the Savings Bank in the black at 0.67%.

Currency pair euro /dollar is at 1.494. Today, the MICEX to the dollar gave 29.34 rubles for one euro - 43,79 rubles. Thus, the value against the currency basket was 35.88 rubles (in Wednesday trading on the basis of the cost of currency basket was 35.9 rubles). Supporting ruble in the near future could have a traditional monthly tax period in Russia. In my opinion, a couple of dollar /euro this week, will be traded within 1,4850-1,5025, Russia ruble will be traded within the corridor against the currency basket 35,80-35,95 rubles , - said Boris Olshansky, head of work on financial and capital markets, BIN.

Oil prices are showing positive momentum, trading on the maximum annual marks. By 20.10 Moscow time on December futures for Brent crude traded at $ 75.116 per barrel, Light - $ 76.89 per barrel.

Trades in Europe ended raznonapravlenno: the FTSE fell by 0.63%, CAC 40 index rose 0.03%, DAX index in a minus on 0,4%. Leading U.S. indexes traded in negative territory: at 20.10 Moscow time, the Dow Jones declines to 0.08%, the index SP - on 0,17%, the index of Nasdaq in the red at 0.34%.

«Market badly overheated, so players will want to record profits before the next wave of growth. Most likely, the correction to the Russian sites will continue until the end of the week , - says Dmitry Makarov, an analyst at IFC Metropol.

«Depending on the dynamics in the U.S., tomorrow's auction will begin gepom up or down, completely repeating the movement of America and, according to our estimates, the negative opening yet more likely. In this case, would be attractive purchase in the middle of tomorrow , - believes Dmitry Alexandrov, an analyst with IC Financial Bridge .

Tomorrow attention of market participants will focus on reporting Bank of America.
  

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