Today Russia's market seems to continue to grow, playing improved sentiment in the U.S. and a small rebound in oil prices

Written by admin on September 29th, 2009

Russia on Monday the market opened in negative territory against negative dynamics of the Asian indices and traded below $ 65 a barrel on the futures Brent, but once again demonstrated already becoming familiar in the last session of the resistance and the afternoon turned up, but towards the end of the session left in plus against the background of pronounced growth in the U.S. sites. As a result, the MICEX index rose 1.71% to 1 208.19 points, the RTS index 1.9% to 1 248.73 points.

Among the sectoral indices showed the highest increase of Engineering MICEX MNF: 4,56%, the main contribution to growth made by KAMAZ shares (13.76%), to renew the motion in the alleged price of the previously announced transaction to acquire 13% stake in automaker Rostehnologii Troika Dialog. In liquid growth areas fairly evenly, somewhat better than the market's oil and gas sector index MICEX OG 2,42%, showed the largest increase in common shares of Surgutneftegaz (4.81%), recovering from an aggressive profit-taking, which took place during the past week. Financial MICEX FNL 1,98%, favorite sector became VTB shares (4.05%). No change in the power situation (MICEX PWR 1,26%): leader of the sector remain shares of FGC UES (4.58%) and IDC Holding (4.42%).

U.S. indexes rose on Monday for the first four sessions, and once compensated for most of the losses last week (DJIA 1,28%, SP 500 1,78%, NASDAQ 1,90%). The main driver for optimism were a number of major mergers and acquisitions - the restoration of investors perceive the market as an important confirmation that the economy and financial markets has gone from an extreme trajectory returning to normal operation. However, the local moment of truth for the U.S. market, apparently, comes after the publication of corporate reports for the third quarter - the first reports come out this week, and if they confirm the positive signals that the market saw in macroeconomic statistics recently, the optimism may have some time to remain in vogue.

Expectations for today: Russia's market yesterday again pushed away from the bottom of the short-term uptrend and today, apparently, will continue to rise, playing improved sentiment in the United States and a small rebound in oil prices.

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