Monday, December 28, the main share indexes of Latin America against the background of a general optimism regarding the recovery of the world economy, as well as strengthening the value oil and metals, most of them have finished day with positive dynamics.

indicator of equity market of Brazil Bovespa rose to 0,46% to a mark of 67 901.70 points. Brazilian real has appreciated by 0.6% and finished the day at around 1,742 reais per dollar.

weekly survey by the central bank, showed that the national economy, according to the average forecasts of analysts, in 2010 will grow by 5.08% compared with growth of 5% expected.

Papers

retailer Lojas Renner on the background of news "stouter" at 2,2%.

Shares

the world"s largest iron ore producer Vale strengthened by 0,6%, while the government-controlled Petrobras oil prices increased by 0,1% due to increased cost of oil and metals.

Quotes oil company OGX Petroleo Gas Participacoes jumped 4.3% after reports of the discovery of new oil fields in the borehole Campos Basin.

Mexican Bolsa by the end of the trading session added 0,19% to a value of 32 610.51 points. Papers of the largest national retailer Walmex "thinner" at 0,02%, while shares of the largest regional mobile phone operator America Movil rose by 0,39%.

Quotes flour producer Gruma slipped to 3.5%. Representatives of the firms reported that among the assets seized by Venezuela arrested banker Ricardo Fernandez"a was also a minority share of the local units of the company.

Values of the basic indexes on closing are resulted in the table:

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coming to an end the crisis and controversial in 2009, and it"s time to sum up. Despite the fact that in the beginning of the year, few could have imagined that the rally spread over such a long time, the profitability of individual instruments in 100% and above to become reality, and many investors in international markets without much effort, and even with the most passive strategy succeeded double its capital. And although the overall growth of world markets was not justified from a fundamental point of view, the rally in selected developing markets was well within their capabilities andthe dynamics of the macroeconomic situation.

World stock benchmark MSCI World in 2009 showed an increase of 28% and for the year reached a maximum level for 15 months. Thus the dynamics of the index over the past 10 months, it seems, is the steepest part of the growth in the history of the index.

Source - Reuters

in 2009, our rating of the most liquid index funds, traded in the U.S., took the following form:

 

Source - Reuters

leader in profitability, as expected, was the index fund linked to Russia"s market, which for several months in a row, took the lead in our ranking. I think that comment is superfluous here - the majority of investors in our country is well aware of the fundamental qualities was that growth.

On the second line of our rating entrenched Brazilian market, and there was no surprise, since the prospects for Brazil and the nature of its monetary policy at the beginning of the year determining the success of the market. Accordingly, in the first six of our rating 4 funds are geographically tied to Latin America, in particular for Brazil, Chile moved up a promising market. Fourth ranked the Turkish index fund. Although Turkey, unlike in Brazil, is not perceived as a potential growth poles of the world economy, quite a successful anti-crisis policy of the government and favorable attitudes among consumers and investors have done their job, and the Turkish market has almost doubled in a year.

In our rating can be seen with the naked eye, emerging markets in 2009 looked much nicer developed. Latin America plus the Asian core growth, China-South Korea-Taiwan to provide even the most passive investors with big winnings. In the wake of natural ranking ETF assets were traditionally perceived as protective alternatives - bonds, municipal sector. Of the foreign-exchange reserves showed the greatest growth tool linked to the Australian dollar - the annual growth of 25% for foreign currency assets very, very bad.
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As for precious metals, gold has brought the yield to investors at the market - about 24%. This silver on the index fund grew by 50%. Such a significant gap in yield between gold and silver is linked largely to the fact that the relationship with the dynamics of silver currency market is much more implicit and less stable than that of gold. Also here the role played by the fact that gold in 2009 reached new historical highs and broke the psychological mark of $ 1000 per troy ounce, that inspired some investors fears. At the same time, silver is still quite far from historic highs, leaving behind him some potential.

Before the advent in 2010 can only congratulate the investors in international markets that have managed to significantly build its capital by up to 2009, and recalled that in the coming year, betting on emerging markets, do not forget about the geographical and sectoral diversification, which is the key to success for medium-and long-term investment.

 

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Friday, 15 January, stock markets in Asia have shown mixed dynamics with a predominance of positive component, with a regional indicator MSCI Asia Pacific rose to 5-month high. Although not very impressive macroeconomic data for the United States, released yesterday, the mood in the market was favorable to the background of the positive closing of the American session. This, of course, facilitated a successful quarterly reporting and it is worthy of forecasts from Intel. News from the Australian Commonwealth Bank supported the bullish enthusiasm in the market.

As a result of trading the Japanese Nikkei 225 rose to 0.68%, Chinese CSI 300 has grown on 0,39%, Hong Kong"s Hang Seng declined by 0.29%, while South Korea"s Kospi rose 0.95%. The regional MSCI Asia Pacific added about 0,5%.

At the auctions in South Korea, growth has become possible thanks to a jump shares of Daewoo Shipbuilding Marine Engineering at 15% against the background of news about Posco plans to buy a shipbuilding company.

The second-largest producer in the world of computer memory chips, Hynix Semiconductor added 1.5% and at auctions in Seoul. This influenced the positive statements the world"s largest computer chip manufacturer Intel, as well as a recommendation to purchase shares of Hynix from analysts Goldman Sachs. The largest Japanese chip maker Elpida Memory stronger on 1,5%. One of the world"s largest computer manufacturers Acer at the auction in Taipei has moved by 1%.

At the auctions in Australia"s biggest lender Commonwealth Bank advanced 2.3% on a last-minute trades after the announcement that the semi-annual profit increased by 44% due to the reduction of the bad debts and improve the situation in the capital markets. Other Australian banks are National Australia Bank and Westpac Banking added 0.9% and 0.5% respectively.

At the auctions in Japan, one of the leading steel producer JFE Holdings lost 3.4% against the backdrop of rumors that the iron ore will go up. The food is rumored to give comment mining company Rio Tinto on the growth of sales of ore to record levels. At the auctions in Australia, shares the country"s largest steel worker BlueScope Steel fell 1.9%.

Oil and gas dipped against the backdrop of the retreat in oil prices. Shares of Chinese Cnooc left in a minus on 1,1%, as well as paper and PetroChina. Australian oil and gas company Santos has lost 1,4%, after the abolition of Bank of America analysts recommendation to "buy".

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Wednesday, January 13, the major stock markets in the European region have shown mixed dynamics with a predominance of positive component - high-tech sector stocks were popular among investors, after analysts raised their recommendations on the securities of individual companies in the industry, meanwhile, the banking sector, on the contrary who were under siege because of allegations of French bank Societe Generale.

As a result of trading a key index of the UK FTSE 100 fell by 0.46%, despite the fact that industrial production in monthly terms has increased in November at 0.4% versus 0.3% expected by analysts. The French CAC 40 index rose only 0.02%, while the German DAX closed in positive territory at 0.34%. Regional index Dow Stoxx 600 has become harder to 1,28% and closed at the level of 257.1 points.

Shares of the second-largest European semiconductor manufacturer Infineon Technologies strengthened to 3.39%, after Goldman Sachs Group analysts raised their rating on the background of the expected profit increase of high-tech companies on the basis of activity in the fourth quarter. In turn, the leading European manufacturer of equipment for semiconductor ASML Holding earned at the auction 1,58% of market capitalization. Analysts Goldman Sachs Group raised the rating of securities ASML from "neutral" to "buy".

Quotes of the German group Freenet dropped during the session at 2.28%. Today it became known that British private equity firm Permira, through its German unit Telco Holdings intends to sell the remainder of her 10.1% stake in Freenet totaling 119 million euros ($ 127.7 million).

The leader of growth in the Stoxx 600 index has become Europe"s largest supplier of insulation and roofing SIG, whose shares soared 10.02%. Company representatives said that annual profit before tax excluding one-time items as a minimum will coincide with the expectations of analysts.

Leading Belgian pharmacist UCB has added to its asset 4,1%, after analysts Citigroup have recommended to buy his paper.

Shares of the banking sector failed to pass the sale, after disappointing second-largest applications in France lender Societe Generale. According to the report, which has no precise figures, Societe Generale expects to receive asmall profit in the fourth quarter due to write-off of 1.4 billion euros ($ 2.03 billion). As a result, quotes, Societe Generale, BNP Paribas, Deutsche Bank and Credite Agricole fell 3,52%, 0,7%, 1,7% and 1,24% respectively.

The operator of Europe"s largest plant for the production of bioethanol CropEnergies reported on the results of the third quarter. Thus, the profit after taxes, interest and depreciation increased by 36% and amounted to 9.5 million euros ($ 13.8 million). As a result, the paper CropEnergies become harder to 2,5%.

By improving the analysts, JPMorgan Chase Co predictive value of the shares in leading European producer of potash KS from 34 euros to 41 euros, quotes the company went in plus on 1,2% to 44,84 euros.

Values of the basic indexes on closing are resulted in the table:

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Monday, January 11, European stock markets showed mixed trends. The news that the Venezuelan government devalued the national currency, had sparked the decline, without giving indices to stay in the conquered earlier heights against the backdrop of record growth in Chinese imports in December 2009.

As a result of trades regional index Dow Jones Stoxx 600 has lowered 0,19%. The British FTSE 100 gained strength at 0.07%, the Swiss SMI fell 0,39%, German DAX rose to 0,05%, while the French CAC 40 dropped to 0.05%. Leader of growth was the Austrian ATX, an increase of 2,78%, and in the fall of leaders joined Spanish IBEX 35 INDEX, decreased by 0,73%.

Such a rapid growth in China of imported goods, which include raw materials, served as another reason to purchase Commodities and favorably affected the value of the shares of companies of the sector. Thus, the paper oilman Royal Dutch Shell "recovered" at 0,89%, but rates of BP and Total rose to 2,22% and 0,54% respectively. Citigroup analyst recommended buying shares of BP.

The market capitalization of Swiss Life Holding rose 5.53% after it became known that the German company Allianz is preparing to make a takeover bid of the largest life insurer in Switzerland.

Paper Heineken strengthened to 3.26%. Third largest producer in the world of beer brewing unit agreed to acquire Mexican holding company Fomento Economico Mexicano. The total transaction value is estimated at 5.3 billion euros ($ 7.7 billion).

Shares in Europe"s leading telephone company Telefonica lost 3.19% of the cost, after Venezuela, which is the second largest in Latin America market for the company, devalued the national currency.

Papers of the representatives of the financial services industry declined in anticipation of the beginning of the reporting season in the United States. Thus, quotes Credit Suisse dropped to 2.05% and a market capitalization BNP Paribas declined by 1.41%. Shares Deutsche Bank "thinner" at 1,2%, which also contributed to rumors of a possible reduction of dividends paid to shareholders of the company.

Quotations Air France-KLM Group rose by 3%. The company plans to invest hundreds of millions of euros to improve the seats in business class.

Values of the basic indexes on closing are resulted in the table:

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political past week, probably the most appropriate name American. If you start with the end , then the main event was the awarding of Barack Obama's Nobel Peace Prize, which caused a storm of emotions, from surprise to anger, both within States and around the world. The newly winner himself was embarrassed by such attention, in fact, in fact, nominee Obama was only two weeks after his inauguration as president. This award of the American people, - commented receive awards Obama himself. This is a reward in advance - the general view of most commentators.

Of the real merits of the American president to promote peace throughout the world, probably, is called the decision to cease military operations in Iraq and the withdrawal of troops, to be completed by 2011 (now the number of American troops in this country is about 120 thousand), efforts to establish the negotiation process with North Korea and Iran, the decision to suspend the deployment of the third position area defense system in Europe, the intention to conclude an agreement with Russia to reduce strategic offensive arms to replace the START I Treaty, which expires this year. However, the main war Obama, by his own admission president - Afghanistan - last week became the subject of hot debate in Washington. President had to decide on the future development strategy of the military operation in this country: either to seriously enhance the contingent (as demanded immediate military chief of operations in Afghanistan), or it strengthened anti-terrorism focus of the operation, thus avoiding sending additional American units to Afghanistan. In the spring of Obama has decided to increase the number of U.S. troops in that country (now in Afghanistan are about 65 thousand American soldiers), and now the news agencies reported sending to the Middle East further 13 thousand soldiers. Solution in the spirit of the Nobel Peace laureate, as ironically noted by observers.

However, last week the Nobel Prize and discuss strategies for conducting military operations in Afghanistan were not the only reason attention to the U.S.. Earlier this week, British newspaper The Independent, discover the secret plans of some countries to abandon dollar payments for energy, seriously podogrela the already-existing discussion on the fate of the American currency has lost half a year more than 10%. The U.S. administration has come under fire for allegedly deliberately to the strategy of weak dollar. Within certain limits, the weak dollar could indeed pull exports, help the economy and reduce foreign debt, however, excessive kink might scare off lenders. For this reason, American officials during the 2 weeks have repeatedly stated that the Government's position - in maintaining a strong dollar and that all the necessary measures.

The weakening of the dollar raises serious concerns both in Europe and Asia. According to a study by Credit Suisse Group AG, the euro is overvalued by 16% (compared with the weighted fair price, taking into account the interest rate, the standard of living and other statistical data) and the Yen by 10%, which seriously threatens the process of recovery of these economies. Experts compiled by Bloomberg believe that in the short term should not expect a recovery of the dollar. Support the dollar is likely to have only increased the interest rate on such a possibility saying Fed Chairman Ben Bernanke is October 8, but the implementation has not yet happened.

Other events of the week:

next week is expected to:

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Tuesday, 6 October, the stock markets of the Asia-Pacific region for the first time in the last 4 days have completed trades with mostly positive results, led by companies, most of whom depend on foreign sales.

data released yesterday showed the first 11 months of expansion of U.S. services sector, which accounts for almost 90% of the national economy, thus gave the investors hope for a speedy recovery in world economic growth.

general indicator of the regional MSCI Asia Pacific Index added 1.4% to a value of 115.29 points.

Japanese Nikkei 225 rose to 0,18% and has reached 9 691.80 points, a broader indicator of the market Topix has risen in price by 0,5% and reached a mark of 871.63 points. Shares automaker Mazda Motor jumped 7.6%. The company reduced its forecast for annual losses of 48%, highlighting the increase in sales and reducing costs. Representatives of Mazda Motor also reported the company's intention to sell 363 million new shares and 96.8 million existingones in order to attract 96 billion yen ($ 1.1 billion).

Securities Financial Sumitomo Mitsui Financial Group went up by 3,6%, while the bank Mitsubishi UFJ Financial Group rose 4.4%. Minister of country's financial services Shizuka Kamei said that domestic lenders do not have to increase reserves for the bad debts in the event of delay in payments from the borrowers of small business.

Quotes operator of websites dealing with auctions and sales of goods, DeNa soared by 13% against the plans to purchase 20% of American Aurora Feint, which will DeNa begin providing services to game developers for the iPhone. KBC Securities analysts also raised their recommendations on the shares DeNa to assess hold. Click to continue »

 

Tuesday, 29 September, the stock markets in Latin America completed the day in negative territory mainly amid falling commodity prices.
Outsiders are bidding Brazilian developers and developers. Investors prefer to sell shares of these companies and with the help of funds received to participate in the IPO, conducted by Banco Santander. It is known that the unit of Spain's largest bank intends to attract 13.1 billion reais by the very scale of Brazil's initial public offering.

As a result of trades

key index of Brazil Bovespa has fallen to 0,1%, the Mexican Bolsa has become harder to 0,1%, while Argentina's Merval lowered from its asset 0,27%.

Shares

leading Brazilian developers Cyrela Brazil Realty SA Empreendimentos Participacoes and Gafisa, coming during this year, left in a minus on 2,9% and 2,3% respectively. A quotation of their rival Rossi Residencial, whose shares have risen in price this year at 400%, dropped to 1,3%.

Brazilian oil company Petroleo Brasileiro, the state-controlled, dipped 0.3% against a background of reducing the cost of crude oil caused by the strengthening of the dollar against the euro.

Shares of the Brazilian company Redecard, dedicated to servicing credit card Mastercard, fell in price by 2.4% after reports that the Brazilian government intends to introduce measures to increase competition, which will enable retailers to accept payment by Mastercard and Visa do not sign a contract granting exclusive rights to Redecard and Cia. Click to continue »

 

Friday, 25 September, stock markets in Europe as a whole have demonstrated negative dynamics on the background emerged in the United States of data on new home sales and orders for durable goods. Because these indicators are relevant to the real economy and show no feelings or expectations of consumers /investors, and real changes in the sectors, the market could not ignore them. Probably played a role, and factor on Friday.

Following the session, the key index of the UK FTSE 100 added 0.1%,French CAC 40 index decreased by 0,5%, while the German DAX closed in a minus on 0,4%. Regional Dow Stoxx 600 index dropped to 0,2%.

At auctions in London, Britain's largest electronics retailer DSG International lost 4.7% after Morgan Stanley's analysts recommend to sell its shares.

The Nordic region experienced some growth in the islands - the largest Norwegian bank DnB NOR jumped 9.9% after reports of plans to attract 14 billion kronor ($ 2.4 billion) through the placement of Wright. According to the Bank, as a result of placement of shares among existing shareholders' capital adequacy ratio Level 1 DnB NOR will rise to 11,3%.

At the auctions in Germany deviation index was limited to recommendations for the purchase of analysts Deutsche Bank. In particular, under the influence of such an upgrade action manufacturer of household chemistry Henkel added 1,9%, while Beiersdorf, manufacturer of creams brands Nivea, moved to 2,2%.

The largest Swiss asset manager Julius Baer Holding lost 5.6% of market value after the announcement of the change in strategy - the company intends to increase the value of assets under its management by bringing in new work investment bankers and acquisitions.

At the auction in Paris after the depressing statistics on orders for durable goods in the United States the world's largest manufacturer of trains Alstom has lost 2,2%, and the largest manufacturer of microchips STMicroelectronics remained without 3,1%.

Italian stock market on Friday managed to avoid the correction. Largest by market value in Europe oilfield services company Saipem has strengthened by 4,1%, after Goldman Sachs Group analysts raised the target price of its shares by more than 30%.

Italy's biggest bank, UniCredit has moved to 4,16% after Credit Suisse Group analysts raised their forecast for the price of its shares at 7.4% and retained the securities rating of better market.

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  currency pair

USD /BRL at the end of last year shows a downward movement and at the moment, despite some slowdown in the fall of the dollar, its nature has not changed. In July this year the couple crossed the level of 61,8% of Fibonacci from the previous upward movement, indicating a full-fledged trend downward, but not correction.

On the daily chart (Figure 1) we see the intersection of exponential moving averages with different periods. So, June 3 moving average with a period of 89 crossed the longer moving average with a period of 144 top-down, indicating a bearish trend.

Fig. 1

Source: Reuters

Lines of the trend indicator MACD on the daily chart (Fig. 2) after a failed attempt to rendezvous gone and currently continues to move in one direction, which also confirms the current trend.

Fig. 2

Source: Reuters

Directional Movement Indicators DI and-DI (Fig. 2) indicate a possible consolidation near current levels, as appropriate close enough to each other. At the level of 1.8053 is the line Fibonacci (76.4%), which may be briefly withhold the current downward trend. Click to continue »