Russian indices finished volatile trading week of sharp decline, but a chance to rebound in the coming session is saved

Written by admin on April 28th, 2010

 
  
 
 
  05.02.10 20:50 ;
 

Gap down at the opening of Russian market on Friday was over 1.5%. Further decline deepened. Loss of the MICEX index during the day reached 3.5%. The dollar index RTS lost weight much faster because of the weakening of the ruble exchange rate were below the psychologically important mark of 1400 points.

In the first hours of trading virtually all securities traded in the red zone. As leaders of the reduction were Paper IDC North Caucasus (-6.41%), AFK Sistema (-5.35%), Mechel (-4.18%). Growth was observed only in actions "KAMAZ" (5,4%), Rostelecom (1,71%), Uralsvyazinform (0,55%) and TGK-14 (2,78%). "The volumes in which there were sales, good enough, so you can say that the players are systematically selling all the papers," - notes the analyst of the Criminal Code of "AMC Finance Vladimir Semenov. "Foreign exchange market moved down by 5-6% of the price of raw materials. At this point, they all want to just sell it. Given that the rates and stock and commodity markets in isolation from the real economy were at a peak in recent months, the movement was rapidly down quotes and powerful ", - analyst IK" ITinvest "Alexander Potavin.

Quotes oil after a brief rebound early in the week for yesterday"s day had lost more than 5%. Against this backdrop, Rosneft declined by 2.84%, Surgutneftegaz - on 2,91%, LUKoil - on 2,65%.

Gold traded today at minus lightweight, aluminum and nickel, on average lost more than 1%, putting pressure on companies in this sector. Norilsk Nickel on the day declined by 2.24%, Polyus Gold - on 4,28%.

Leaders of sales, Sberbank and Gazprom, lost on the session 1,98% and 2,29% respectively.

By 20.30 Moscow time the euro /dollar is at 1.3609. Today, the MICEX for one dollar gave 30.47 rubles for one euro - 41.72 rubles. Thus, the value of the currency basket now is 35.56 rubles (the last trading price on the basis of the currency basket was 35.36 rubles).

main sales were in the first two hours of trading, to dinner activity Sellers asleep. The players were waiting for the publication block statistics with the U.S. labor market, the data on the number of jobs and unemployment. After the release of data on Payrolls the stock market has improved. The unem1000ployment rate declined from 10,1% to 9,7%. Markets reacted positively to the published data, in futures on the index of SP, as well as the value of the euro experienced rebound. However, the start of the American session was held in the "red zone", resulting in the Russian sites downward dynamics observed until the end of auction. As a result of the day the MICEX index lost 2.88% to 1355.64 points. RTS Index today, concluded the session lower by 3.55% to 1,411.14 points.

Index of the London Stock Exchange FTSE 100 dropped to 1.53% and closed at 5,060.92 points. Index of the Paris stock exchange CAC 40 fell 3.4% and closed at 3,563.76 points. Index of the Frankfurt stock exchange Xetra DAX dropped to 1.79% and closed at 5,434.34.

"In these conditions, we expect the continuation of the correction of possible short-lived rebounds upward," - said portfolio manager Finam Vassily Konovalov.

"Next week will be clear to the output of macroeconomic statistics. The most important data will be data on the eurozone GDP. In general, the positive outcome of G7 meeting could lead to a rebound in world stock markets, resulting in the MICEX index may return to the boundaries of the medium-term rising channel ( above 1430 points). In the opposite case, the correction in financial markets continues strong support of the MICEX lies at the level of 1290 points, "- says the analyst GC Alor Anna Lyukanova.

By 20.30 Moscow time, the March futures for Brent crude traded at $ 71.32 a barrel, Light - $ 72.8 per barrel.

In the U.S. for the same time, the Dow declines by 0.56%, the index SP - at 0.563%, the index of Nasdaq - for 0,11%.

In the evening session on FORTS futures on the RTS index decreased by 1.93%, to 138,735 points. Futures for shares of Gazprom, Lukoil, Sberbank lost 1.36%, 1,18% and 1,28% respectively.


  

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