Late passengers trying to catch a train
In the first trading day of this year, the MICEX index (5.9%) and RTS (7,6%) were able to update a peak in 2009. Starting session at 4-6% gap up, quotes leading securities were able to add to dinner another 2-4%. There is a theme that a similar growth in early 2010 provoked by those who waited the New Year holidays in the cache and who did not believe in growth at the end of last year. In other words, late passengers trying to jump a train, rapidly departing to the north this year.
New Year brought a new raw material prices, new highs on U.S. stock exchanges, the positive statistics from China. This is our market should take into account in the current quote. Of course, many players toad strangling buy securities at these levels. But if we consider the process of weakening the dollar and continued heating of commodity markets will continue, today"s purchase may provide tangible gains in the coming month.
very strong growth today are allocated shares of Russia"s metallurgical sector: MMC Norilsk Nickel (10.2%), Severstal (15,7%), CMI (9.7%). Here, growth factors are both positive statistic data of Chinese economy, and the beginning of this road show, Rusal in Hong Kong. The final offering price of shares of aluminum giant will be determined on January 22.
Shares Sistema currently increasing by 7% showing similar dynamics with the shares of oil companies, amid reports of consolidation on the basis of Bashneft owned AFC shares Ufaneftehim, Novoil, Ufaorgsintez and UNPZ. We recommend that you keep the shares of ROS.
I think before the end of our session, the stock market can make another attempt to reach the daytime highs. The most successful it will look in the papers of MMC, Gazprom, Rosneft and Sberbank, ie in the most liquid securities, which are traditionally in demand by non-residents.
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