Despite the fact that the Friday session was a failure in terms of statistics, to talk about the turn of the medium-term trends in too early

by admin on October 5th, 2009

data on payrolls - further confirmation of the excessive optimism of the recent rally

Data on the number of jobs in the U.S. for September were not only weaker than analysts' forecasts (263 thousand against 175 thousand, according to the consensus forecast), but weaker than the values of the previous month. Thus, the mismatch of expectations in the market with a real rate of economic recovery, the example of the most important statistic was absolutely clear. Even before the release of data on payrolls bears on Russia's stock market made a successful attempt to push quotes blue chips down. The disappointing statistics MICEX index went into negative by 5.5%, breaking through a localminimum of 21 September at 1165 points. However, the rebound under the closing trading in Russia was strong enough - it was played 50% reduction per day, and the paper VTB even finished day growth of quotations.

Despite the fact that the Friday session was totally a failure in terms of statistics, to talk about the turn of the medium-term trends in the stock market too early. The graph of the MICEX Index, we see continued consolidation near the peak of the year.

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