Russia's stock market remains bullish trend to a weaker dollar and rising commodity quotes

Written by admin on October 12th, 2009

 
  
 
 
  12.10.09 20:25 ;
  With favorable external background of Russia's share platforms began the week in a positive way, breaking up the MICEX index at the opening was about 1%.

In the first hours of trading in securities growth were the leaders of oil and gas companies: Lukoil (4,04%), Gazprom (3,4%), Gazprom Neft (3.83%), prefecture Tatneft (5.73%). Support for shares of the sector have increasing prices for black gold.

significantly grew Paper Savings Bank: ordinary shares of added up to about 3% of the day, preferred - 5,75%. Supporting the financial sector helped cheapening dollar. Ruble to the dollar and the currency basket of the MICEX today was 29.58 and 35.86 rubles (29.63 and 35.9 rubles. At the auction last Friday).

sector steel companies look modest, but, like most papers, was in the positive zone. MMC Norilsk Nickel rose in price by positive expectations of the forthcoming reporting company for the first half, and the optimistic forecasts of company's management to increase production this year. Papers concluded the session with the growth of 4,9%.

other growth leaders have OGK, particularly OGK-5 (30%) and OGK-2 (15%). It is possible that they may turn their attention to market participants who failed to participate in the growth of the last week and is now afraid to buy blue chips at current levels, - analyst Stanislav Kleshchev VTB 24.

By the middle of the trading session the growth of Russian indexes stopped, but the positive attitude of buyers is not dried up. The players decided not to fix the profit and stay in the shares until the beginning of the reporting season in the United States. According to the analyst IK «ITinvest» Alexander Potavin, report JP Morgan Chase on 14 October, is likely to be positive. But releases CIT Group and Citigroup on October 15 may be an unpleasant surprise. By the way, taking into account recent growth, negative corporate reports can be perceived market quite painful, - says the analyst. On the other hand, in case of positive statements, the market may get a new impetus to the rally in the green zone. However, new opportunities for the rapid take-off at this time may be somewhat limited: the indices approached their yearly highs, and the need is too weighty a reason to indicators could overcome the resistance levels , - analyst Smolensky Bank Vadim Khloponin.

In America today, the exchange closed in observance of Columbus Day. Important statistics in the course of trading is also not expected. Thus, there is nothing to prevent Russia's indexes continue the upward momentum until the end of the session.

The RTS finished the day at around 1428.06, paragraph (4%). The MICEX index added 3,76%, to close at 1357.44 points. Thus, according to analyst IK Financial Bridge by Dmitry Alexandrov, the situation on the world sites yet is stable and there is reason to expect the beginning of trading tomorrow morning near current levels, perhaps with a slight increase.

With this agreement, and Mark Rubinstein (IFC Metropol): This week on world markets, including in Russia, will dominate the positive dynamics.

European sites have finished the auctions on the positive territory. Index of the London Stock Exchange FTSE 100 rose 0.94% and closed at 5,210.17 points. Index of the Paris stock exchange CAC 40 rose 1.22% and closed at 3,845.8 points. Index of the Frankfurt Stock Exchange Xetra DAX rose to 1,25% and closed at 5,783.23.

By 20.20 Moscow time, the November futures for Brent crude traded at $ 72.14 a barrel, Light - $ 73.79 per barrel.

In the evening session on FORTS futures on the RTS index fell by 0.06% to 144,155 points. Futures for shares of Gazprom and Sberbank rose by 0.1% and 0.68% respectively, for shares of LUKoil - decreased by 0.13%.
  

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