Recovery of oil will allow the Russian market to rise above 900 points

Written by admin on July 10th, 2009

On Thursday, the opening bid at the Russian sites have passed in the positive dynamics, the reason for which was the restoration of American sites on Wednesday. However, towards the end of trading session, the external background worsened. The decline in oil prices has given a bear forces, and helped lead the market lower than 900 points on the MICEX index. The leaders began to reduce paper Mosenergo (-3.85%). They were shares of the Company and Tatneft Gazpromnefti losses which amounted to 2.4% and 2.97% respectively. On the positive territory were able to finish the day the paper Lukoil (0.08%) and RusGidro (0.34%). At the end of the trading the MICEX index fell by 0.93%, ending the day at 896.2.

U.S. markets yesterday's trading session held sideways movement from the previous day's closing level. Attempts to take away market in one direction or another have not been successful. At the end of the trading Dow Jones index rose by 0.06%, S P500 Index and the NASDAQ rose by 0.35% and 0.31% respectively. At the morning session, futures on S P500 index traded at 881 level.

energy market yesterday morning showed correctional movement upwards. Once the futures of oil brand Brent of 62.4, the decline has continued, resulting in crude oil reached 60 dollars per barrel. Then, against the backdrop of high volatility, there was recovery to the level of 61. Morning session is held in lateral movement of the closing levels of the previous day. By 10.10 the contract for oil brand Brent traded at $ 61.1 /barrel.

Today, we look forward to moderately positive opening on the background of the restoration of the energy market. This will allow the bulls put the market above 900 points mark. In the future, players will continue to closely monitor the market for oil and western areas. Also attract the attention of statistics on the trade balance in the United States and the consumer sentiment index, calculated the University of Michigan. Today, if the positive momentum and the output of best expectations, it is possible to achieve the MICEX index of 935, but the likelihood of further reduction of this level is very high, resulting in a recommendation, we remain outside markets.

Authorize and appreciate the story;;

4 users rated material at 3,5.


Analyst Ratings


At the opening of the buyers will try to return the MICEX index above 900 points
The price of oil stabilized around $ 60 mark per barrel
Latin America: commodity prices and low interest rates supported the market
Kommersant: Kiev city council has adopted a program to combat alcohol abuse
Banks began to economize on staff
Forex - results of day
The forecasts of analysts: Today, on the Russian stock market could weaken the pressure of sellers
Stabilizing the situation in foreign markets would allow Russian indices close in the plus
Today, the bidders will wait for the publication of data on trade balance in the United States

 

Leave a Comment