Trading in shares of domestic oil companies on the MICEX will start with gepa up to 1-2%

Written by admin on June 30th, 2009

Update highs on oil and the end of the quarter contributed to raising the domestic stock market today

Quotations of futures on Brent rewrote the maximum this year, rising early in the morning above the level of $ 73. To date, oil is at 2% more expensive than those values that were at the close of the trading on the MICEX. And it is the main positive for the Russian stock market today. The reason for such a rapid rise in prices for black gold have become the news from China, including 11% case increase in domestic prices of petroleum products and the government plans to increase strategic oil reserves to 270 million barrels over the next 5 years. It is clear that against the backdrop of the rising prices of raw materials, trading in shares of domestic oil companies on the MICEX will start with 1-2% case gepa top. This allows you to talk about a probable rise above the level of the MICEX Index of 1000 points at the opening - just in the area of the upper border of 4-week-long downward trend. Will the scrapping of this negative trend and signals to resume purchases in the market - look. In doing so, the risk for private investors is now a factor in the calendar - the end of the quarter and theresulting desire of major players Zadran reassess their securities as high as possible.

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