Cegodnyashnie bidding could go on yesterday scenario with declining indexes closer to the evening

Written by admin on July 1st, 2009

Yesterday's auction began with the Russian market gepa up, after which growth continued, allowing the MICEX index to overcome the level of 1010. However, the bulls were not able to hold at these levels, and the market went into corrective movement that has led to levels of market opening. After the release of statistics on an index of consumer confidence (Consumer Confidence, of paragraph 49.3, expected 55.3 points), the decline has increased, resulting in a market move to the negative territory. Worse than the market finished the day the paper Rostelekom and Sberbank, a decline which was 4.5%. The company he was Norilsk Nickel, Polyus Gold and Surgutneftegas drop which amounted to 4%. Better the market closed, Tatneft (4.5%) and Mosenergo (0.77%). At the end of the trading the MICEX index lost 1.8%, ending the day at 971.55.

In American markets, there was moderately positive opening, but the statistics of ruined the mood of investors. After the release of data on the market, a wave of sales, which increased indices of negative territory. In the middle of the day, the restoration of the lost positions, which allowed the index to reduce the daily loss. At the end of the trading Dow Jones Indexes and the S P500 declined by 0.98% and 0.85% respectively. The loss index NASDAQ was 0.5%. At the morning session, the index futures on the S P500 is trying to overcome the level of 920 points.

oil quotas, after our closing, fell to 68.5, and then began corrective movement. As a result, by 10 am today, futures for Brent crude oil is traded under the mark of 70 $ /barrel.

Today, we expect a positive opening for our market. The partial restoration of oil quotes and overseas sites to support the opening of bulls. However, Scared decline yesterday evening and in anticipation of the statistics, perhaps the players will act cautiously, that will result in lateral movement after the opening. In doing so, it is likely that today's auction will be held on yesterday, and the script closer to the evening, against a background of falling, we can see that lowering the indices below the closure Tuesday.

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