The focus today should be a paper Inter RAO UES

Written by admin on October 16th, 2009

After reaching record levels since the beginning of the year, the world's leading index came under pressure increased against the background of fixed income sales players. Nevertheless, thanks to corporate reporting from the U.S. banking sector, as well as good makrostatistike trades in the United States ended growth. In Asia, the leading index has slowed, but apparently, this movement is more a technical correction after a four-day rally in a row. Meanwhile, Russia's market for the key price-forming factors have not changed: oil prices remain at record levels this year for $ 78 a barrel, the dollar remains weak and is trading around $ 1.4920 per euro. Today we expect the consolidation of Russian indices to levels yesterday.

Against the background of an unprecedented rally in equity markets, launched in early October, the desire of investors to take profits is becoming increasingly clear, however, the development of corrective movement prevents strong corporate reporting. U.S. indexes opened lower yesterday, but in the last hours trades were able to win back losses and get a plus. The Dow rose 0.47% to 10,062.94 on, index SP - on 0,42% to 1,096.56 p.

Market tensely awaited accounting of leading American investment banks: Goldman Sachs and Citigroup. Goldman Sachs Profit was $ 5.25 per share, exceeding market expectations of $ 1, while Citi recorded a loss of 27 cents per share, after payment of dividends on preferred shares. In general, the banks have exceeded market expectations, but after take-off on the eve of the banking sector, investors chose to lock in profits in fact out of reporting.

macroeconomic news has generally been positive. In October, the jump was recorded on an index Empire State Manufacturing, reflecting the state of the manufacturing sector in the region report to the FBI New York. Strong data allowed the market to conclude that the U.S. economy is firmly on the road to recovery. It is also worth noting that the component of the index, which is responsible for the labor market also improved. Weekly statistics on the labor market also proved to be quite positive. The number of applications for unemployment benefits fell by 10 thousand to 514 thousand Inflation, according to data released remains under control. On the background correction in energy prices in September fell to 0.2% compared with the August jump in 0,4%. However, core inflation continues to rise. On the one hand - a sign of growing demand in the economy, on the other - for the Fed to signal the strengthening of the price pressures that will force the U.S. monetary authorities to limit the inflow of liquidity in the stock markets and lead to a revaluation of borrowings. As a result, the tendency to increase yields treasuries will continue in coming weeks, but after re-evaluation of treasuries, the stock market may overtake a serious correction.

Asian indexes today are under pressure. Weak forecasts LG, as well as not too bright (if close examination) the results of U.S. banks, to give investors reason to take profits on the basis of the four growth in the stock markets. Under attack were banking and technology sectors, sales of which led to a decrease in the regional benchmark MSCI Asia Pacific by 0,7%. However, at the end of trading on the market returned to the sale, which minimized the loss of key indices in the region.

At the back of high oil prices and the dollar weakened domestic indices today will be able to resist the growing desire of investors to take profits. We believe that today, Russia's stock market will consolidate near yesterday's closing levels. Apparently, the support will receive shares in oil industry, where you can make good account for half of Transneft, and metallurgists.

In the energy demand can be maintained in the shares of networking companies, however, the focus now must be Inter RAO UES. It is reported that Prime Minister Vladimir Putin approved the transfer of all shares of Inter RAO generating companies left the state after the liquidation of RAO UES of Russia . According to Chapter Board of Directors I. Sechin, their market price at the moment - $ 3.3 billion, with capitalization of the Inter RAO to $ 2.3 billion among them packets in Mosenergo, TGC-5, TGK-6, Volga TGK , TGK-11, Kuzbassenergo, OGK-1, OGK-1, OGK-6, Sangtuda-1, Irkutskenergo. News should erase the negative of the announced suspension of trading of shares of Inter RAO and could potentially lead to a multifold increase in the capitalization of the company.

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Analyst Ratings


Speculative recommendation on shares of Polyus Gold , Gazprom, Lukoil, Sberbank and VTB
Levels of resistance to today's RTS index - 150 380 (155 400), support - 139 700 (133 900)
In anticipation of the output is expected to continue in Russia market multidirectional movement quotes
Better the market today can be the paper's oil and gas sector and shares InterRAO
The focus of market participants is now riveted on the dollar
During today's trading on the equity market is expected to increase stock market quotes
Will Russia market end the day in positive territory or not will depend on the macroeconomic statistics, published today in the U.S.
Synergy within the SPO floated at $ 80 million at a price of $ 20 per unit
Shareholders magnets attracting approved loans totaling up to 14 billion rubles

 

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