Better the market today may look like banks and securities shares GMK Norilsk Nickel
On Monday, during the volatile session, the Russian stock market may have established the prerequisites for the formation of a technical rebound upwards in the medium-term downward trend after a sharp decrease in the previous week.
RTS Index grew at 0.05% to 835.61 item code on the MICEX 1.13% to 881.15 points. Trading volume has grown bekvordatsiya in the near futures fell more than doubled, to 12 points.
prevailing in the opening of the new week on the Russian stock market ambient background predestinate preserve pessimism for the majority of the market players. Oil prices on brand WTI, the eve of the failed psychologically important level of $ 60/barr. Does not demonstrate the desire to rectify their situation. And in a deep red on the U.S. futures indices pointed to the probable line of Perforation of neck formation in turning head-shoulders in the index of SP, which point to a continuation of the status quo in the arrangement of forces, the bulls and bears.
In the first minute of the trading loss for the most liquid securities on the average reached 2.5%, bringing the MICEX index dropped to the level of the first decade of April and was slightly higher than round of 850 points. Satisfied with this cavalry swoop, Bears have been weakened acumen, preferring to start a record profit of short positions and wait for more convincing signals for new attacks. But the rebound started up quotations from the oil level in the $ 59/barr. and unfolded in the northern direction of European stock indicators and failed to move the market in the usual manner.
Moreover in the absence of important macroeconomic data, and reports of American companies for the II quarter at the low volumes of futures on U.S. indexes easily moved into a confident, plus the bull recommendations on shares of Goldman Sachs and Bank of America nebezyzvestnoy Merida Whitney, one first predicted the degree of negative impact of the mortgage crisis. And this, in turn, radically changed idea about where you want to move the stock market in the United States shortly. The line of neck in a model of head-shoulders in the SP 500 index as a result of these maneuvers was only punctured futures, which was a very strong signal to buy. The Russian stock market this circumstance awakened bulls, thanks to action by the MICEX index was able to overcome resistance in the intermediate 880 points.
By the end of the trading initiative passed by the Bear did not come to terms with the loss of control over the situation. A weak start on Wall Street trades, and the deprivation of oil prices gained intraday achievements have enabled them to inflict a sensitive reaction, which resulted in a positive closure for the day be blurry.
The highest volatility in the industries has been characterized by shares of banks visited in the early days of the status of outsiders against the backdrop of a sharp weakening of the ruble to a basket bivalyutnoy and then transferred to the status of the favorites after the appearance of the recommendations of buy shares of Goldman Sachs and Bank of America and the background damping of negative trends in the domestic foreign exchange market. As a result, the index Micex FNL increased by 1.88%
In the oil and gas sector Micex OG (1.31%) is to provide paper Gazprom (0.09%), experienced a negative impact of information on the signing of an intergovernmental agreement on gas pipeline project Nabucco, as well as paper, Rosneft (-0.69%), managed at the end of last weeks to go in the falling market advantage.
Metallurgical Sector Micex MM (-0.67%) looked worse than the market for a steel worker was the reduction of the cost shares decline after Citi analyst recommendations on them to keep as well as the weakness of shares GMK Norilsk Nickel (-1.45%).
Looking at this market:
broad market index SP 500 (2.49%) obtained a good height, ottolknuvshis of the line a neck in the formation of head-shoulders. In the absence of major macroeconomic data and corporate reports only factor to this growth were positive comments in respect of shares of Goldman Sachs and Bank of America from analyst Meredith Whitney, in the words of carefully listening after she accurately predicted the problems created for U.S. banks During development of the mortgage crisis. Against this backdrop, shares of banks have shown an average of 6.5%-ing the rise of prices. Increased in value and shares of oil and gas sector, despite the absence of signals on to the energy market. Prediction by Dell after the closure of bidding below the level of gross profitability, as it waited for the market, does not interfere with futures on U.S. indexes on Tuesday to show a good plus (SP 500 0.22%).
positive closing on Wall Street was taken to be optimistic on the Asian stock markets (MSCI Asia Pacific 2.0%), which prompted investors to purchase also a significant improvement in forecasts of dynamics of Singapore's GDP this year, the Government of that country, as well as a series of improve profits number of significant players in their industries.
On the positive dynamics of equity markets in the world with the opening of the Russian market is to add and improve the environment in product markets. Oil prices mark WTI reached a level of $ 60.35/barr., Completely filling the evening yesterday's losses. Industrial metals up to the previous day had been easily overcome.
Day should expect the dynamics of the side until the publication of a report from Goldman Sachs and data on retail sales (16-30 Moscow time), the reaction to that will determine the outcome of the day. In general, expect that today will set a new maximum, which can become a reference point in the future for the medium-term trend of breaking down. Up to this point in the case of negative signals to foreign markets is preferable pereotkryvat short. It may look like the market shares of banks (up to a report from Goldman sachs) and shares of MMC Norilsk Nickel.
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