Russia stock market opened the week with another conquest of annual summits of indices due to the closure of shorts and the external positive - increased world stock exchanges, and oil.
As a result of trades on Monday, the MICEX index rose to 1,357.44 points (3.77%), RTS index - to 1428.06 points (4.08%), core chips have risen in price on the stock exchanges in 1,2 -- 6,5%.
RTS Index futures exceeded the asset base of 14.4 points, indicating that a moderately positive attitudes of players.
increases in the prices Gazprom shares (6.2% on MICEX), VTB (RTS: VTBR) (4%), Lukoil (RTS: LKOH) (2,6%), Norilsk Nickel (RTS: GMKN) (5,5%), Rostelecom (RTS: RTKM) (1,2%), Rosneft (RTS: ROSN) (2,5%), Gazprom Neft (RTS: SIBN) (3 , 8%), Surgutneftegas (RTS: SNGS) (4,4%), Tatneft (RTS: TATN) (4,3%), Polyus Gold (RTS: PLZL) (3,2%) , Sberbank Russia (RTS: SBER) (3,6% ordinary and 5,5 'prefecture).
European stocks on Monday added more than 1%, and the rise of the indices started trading in the U.S. (18:45 to growth was 0,6-0,7%).
support from Europe on Monday had a record of the Dutch consumer electronics manufacturer Philips, which showed a net profit for the third quarter when the expected loss (second quarter, the company has also been profitable, despite the expected loss). Positive results have contributed to measures to reduce costs and less significant decrease in revenue than expected. Philips net profit in the third quarter totaled 174 million euros compared with 57 million euros for the same period last year, analysts expected a loss of $ 41 million euros.
Petroleum rises in price on expectations of increasing demand for energy as the restoration of the world economy after the recession, as well as a weaker dollar (euro exceeded $ 1.48). The rise in oil prices accelerated after the Singapore Government to increase the economic forecast.
Price
November futures contracts for WTI crude oil to 18:45 on Monday was $ 73.94 per barrel (2.4%).
According to a senior trader IR Maxwell Capital Michael Molodova, skyrocketing stock market of Russia is due to the effect of the forced closure of shorts who opened long enough (for example, in late September).
The market is now not only is overbought, but does not match the price of reality. The price of shares in Rosneft, for example, is only 10% below historic highs, when the price of oil was above $ 140 per barrel WTI, but now it is in the area $ 70 per barrel. The situation is quite funny, this game is usually quickly ends with a sharp reversal. Take off the market was reinforced by the pension money, has also played its role as the influx of Western speculative investments. But this speculative inflows as quickly comes and goes, any negative message can topple Russia shares, and then the market will be the leaders in the fall, - he said the agency Interfax-AFI .
All of the maximum target for the correction of the fall in June and July of this year, haslong been achieved, the market is overbought, the risks of going wild . We need to fix profit, selling stocks and even think about opening short on many papers. Theoretically, turn can be very painful, the RTS index could easily slide into the area of 1000 points , - M. Young.
Such opinion of the managing company assets Pilgrim Asset Management Igor Kissel, who remarks that the rise of the market in recent days was required influx of Western capital since early October and closing short positions, the players who put on a downward correction.
Since October, celebrated the flow of money from Western foundations, which had preferred not to enter the market and wait for another wave of decline, but now have decided not to miss the chance to do something this year. Secondly, it triggered a technical factor, but namely the closure of shorts (the largest of their volume was observed in the Savings Bank and Subsidiaries'), which raised the market last Friday and Monday. The wave of purchases would subside in the afternoon, but appeared positive external background which has kept downward correction. In general, Considering the appetites of buyers in the next couple of days, the probability of a reversal of the market down less than the opportunity to see the stock price even higher, - he said.
Traders said
IR Uralsib Capital Valentina Yegorova, the stock market rose after Europe and the oil, which feed on talking about inflation rally amid expectations of further weakening of the dollar.
is also still a lot of asset managers who have nedoinvestiroval means and missed the rally of shares, and not waiting for the mythical correction. The market, of course, locally overheated, a correction can be lightning fast, but hardly very profound. The 10-15% of the market may prosest, but he still remains at a fairly high level. While looking up - he added.
Head of the stock control of the Moscow branch of the bank Vadim Smolensky Khloponin also notes that most players tend to purchase rather than to the correction.
Global investors' optimism, high saturation of the liquidity of credit institutions, as well as traditionally blessed for the domestic market factor - rising oil prices - these are the main reasons for the rally at domestic sites. Click to continue »