The worst of the market today may look representatives of the steel segment
results of the previous day:
Tuesday on Russia's stock market, fierce fighting around the upper limit of the range of the prevailing side, where success was accompanied by more bear that did not result in the payment of any adjustments to the script the next auction.
RTS index rose 0.89% to 1446.14 points and the MICEX index, by contrast, dipped 0.26% to 1361.75 points. Trading volumes have increased.
deviated from the lower boundary of the prevailing side of the corridor values (on the MICEX index is 1310-1375 points) early in the week, the next day bulls managed to develop its efforts to its logical conclusion - namely, to reach its upper limit and try to develop your success, go to the new price levels. The prevailing news background leaving a good chance for the realization of the conceived, but by the end of the day they were wiped out after a published unfavorable statistics, as in the emerging records was not any obvious surprises.
a good environment to maintain the momentum of growth after the opening created published after the end of the regular session on Wall Street reports from Apple and Texas Instruments, which the upward vector in futures on U.S. indices. Support not only the optimistic mood at the auctions in Asia, but the pressure on the U.S. dollar because of the possibility of expanding the differential of interest caused by the publication of protocols to the last meeting of the Bank of Australia. In the Minute investors saw a high probability that the phase of rising interest rates first among the major, central bank, who decided on this after the depletion of recession in the world economy, will continue. Euro weakened against this background to a little less than 10 pips to the significant level of 1.5 to the dollar that has pushed gold prices to new historic highs, but oil prices to a round $ 80/barr. mixture of WTI. This is what has become one of those moments that shook the position of bulls, with ease from the beginning of trading having overcome the barrier in the form of the upper limit of the lateral range.
outbreak of profit-taking in international currency markets in the pair EUR /USD has caused reversal in oil prices, which also contributed to the head of the oil cartel, Abdullah al-Badri, doubting the correctness of the prevailing prices in the oil market in conditions of maintaining substantial reserves of untapped black gold a minor improvement to the demand. With profit-taking session and began trading on European stock markets, which gave confidence bears who have had a chance to return the MICEX index below 1375 points and thus avoid the development of an unpleasant scenario for yourself.
day the struggle has not abated, the mark passed from hand to hand, and the outcome of this confrontation could only allow access statistics and corporate reports. Even on Monday, traders were found in quotes optimistic expectations of quarterly results and data on the housing market, so that the scales were tipped in favor of bulls were required, at least, match the facts of what it all had expected. If the analysis because in general, and it was, here is statistics slipped up because of what the MICEX index was rolled away from 1375 points and finished the day 14 points lower.
Almost all the published quarterly reports-reporting companies report the higher profit than analysts expected. Weaken the positive effect that not all companies reached the total earnings of expected values, as in the case of Coca-Cola and Dupont. Hampered by the fact that in the IV quarter of a positive trend towards improvement in corporate profits may suspend that withdrawal from the forecasts of its financial performance of companies such as State Street, Boston Scientific, Lockheed Martin.
With regard to macroeconomic data, it is worse than forecasts came as the data on the real estate market, and on producer prices. The number of building permits issued and bookmarks houses are practically not increased over the past month (573 000 and 590 000 respectively), while analysts expected a larger (595 000 and 610 000 respectively). The reason for this was the expiration of the term in late November, tax incentives for purchase of housing for those who are doing it for the first time in his life, forcing builders hedge and not to expand the business due to a considerable likelihood that the demand for housing continue to diminish. Besides these statistical indicators for the previous month were revised to the downside. In producer prices there has been increasing deflationary trend (-0.6% m /m against expectations of 0%, core rate: -0.2% versus expectations of 0.1%), which of course will allow the Fed to extend the policy of low interest rates on the one hand, but did not indicate radical change in the health of the U.S. economy on the other.
significantly better than the market on Tuesday looked metallurgical sector (Micex MM 1.53%): Polyus Gold (2.58%), Polymetal (1.74%), Norilsk Nickel (1.12%), NLMK (0.88%), Severstal (0.71% ), MMK (-0.25%).
The worst of the market due to profit-taking in shares of Rostelecom (-5.86% obyk., scion. -7.17%) on the fact of approval of the Board of Directors of the restructuring of Svyazinvest based on the company, which will lead to the creation of national champions in the telecommunications industry with a market capitalization of $ 14 billion, looked telecommunications (Micex TLC -0.86%).
better market looked Novatek shares (1.05%) to continue to win back the information about the likely accretion of gas on Yurkharovskoye deposit, which will increase its production facilities from 37 to 44 billion cubic meters. m per year, as well as Gazprom's shares (0.34%), in which there buying once the draft South streamfound a workable structure after the signing of agreements with Turkey and a series on their sites. Oil and gas (Micex OG -0.66%) in general, looked worse than the market.
Financial Sector Micex FNL finished the day in a 0.19% decrease. Shares VTB at the run-up release of the report on international standards for the first half fell 1.21%, Sberbank preference shares - at 1.14%, of its common stock - at 0.29%.
look at today's market
At the opening of trading on Wednesday on Russia's stock market situation is ambiguous. The struggle that took place almost the whole day yesterday at around 1375 points on the MICEX index, can now continue, at least in the beginning of the day. After opening with a slight downward gepom bulls, it is important to keep the level in 1357 items, in order to preserve the chances of returning to the previous day (1388 points) with access to 1400 items. Supporting them will be short-term trend line is formed in early October, which shifted to 1350 points. In the case if this level will be passed down, these plans will become irrelevant and will open the way to 1315 points, the lower-side band and left by a blank gepu up early weeks. In the future this may be the completion of the stroke head in the formation of head-shoulders reversal formations in terms of graphical analysis. External background does not give a clear advantage neither optimists nor pessimists. Futures on U.S. indexes emerged in the statements, plus the heads of the FBI San Francisco Janet Yellen of the Fed in the coming months, probably will not resort by tightening monetary policy, as well as the excellent reports from SunDisk and Yahoo, which eliminates the negative closing of the substantive session of Wall Street. The situation on the currency market and with courses on basic raw materials remained stable at the same levels as at the closure of Russia's stock market on Tuesday. The balance of power may change with the release of fresh corporate reports from Altria, Eli Lilly, Fiat, Freeport-McMoRan Copper Gold, Iberdrola, Morgan Stanley, US Bancorp, Wells Fargo (Amgen, and eBay will report after the auction). Some statistics worth noting the Protocols to the last meeting of the Bank of England (12-30) and data on stocks of petroleum and petroleum products in the U.S. (18-30). Fed's Beige Book will be published in 22-00. In Russia, its reporting on international standards for the first half will present VTB. The worst of the market may look like the representatives of the steel segment.
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