The end of last week on the London Metal Exchange was at a minor note
Sep 14th, 2009 | By admin | Category: News International Marketsglobal equity markets
rapidly growing for the past week the American stock market on Friday changed its motion vector and closed in red. In the Losers - securities of companies in the financial sector. Pressure on the market, above all, has had its short-term overbought, failed to support and released on Friday statistics.
State budget deficit the U.S. has changed little in August and amounted to 111,4 billion dollars against 111,9 billion U.S. dollars in August last year - the American Ministry of Finance data showed. In this case the actual fiscal deficit was significantly better than market expectations, on average, evaluating it in 139,5 billion dollars accumulated during 11 months of the current fiscal year, the U.S. budget deficit reached a record $ 1.38 trillion. U.S.
volume of stocks of goods at the wholesale warehouses the U.S. in July fell again - by 1,4% a month earlier change in the index was minus 1.7%. Market participants forecast a decline of 1%.
please the market has previously calculated by the University of Michigan index of consumer confidence in U.S. economy, which unexpectedly rose in September to70.2 points from 65.7 points a month earlier, and thus exceeded the expectations of American experts.
Dow Jones Industrial Average fell Friday to 0.23% - to 9605.41 points, Standart Poor's has decreased by 0.14% - to 1042.73 points, Nasdaq Composite has lowered 0,15% - to 2080.9 item.
Futures for America has also not able to get out of the red zone. Ibid stuck and Asian indexes.
On Monday, U.S. President Barack Obama will make a presentation on the global financial crisis. He is expected to talk about commitment and the steps taken by the presidential administration in combating crises, as well as the action that the United States and the international community should take to prevent the recurrence of such crisis. According to the Wall Street Journal, Obama will also report on plans for cuts in programs of state participation in the financial sector. On the same day U.S. Treasury published a document entitled The Next Phase, which contains a description of measures the phasing out of measures to support financial markets.
Metal Market
started as early as Thursday on most metals, the downward movement continued on Friday. The end of last week on the London Metal Exchange was at a minor note.
In leaders were lower zinc and lead, its price fell by 2,9% (1865 $) and 2,4% (2065 $), respectively. Nickel has lost 1,5% of market value, entrenched at the level of $ 16,950 per meter. ton.
China in August, the second consecutive month, reduced the import of copper: in the last month the purchase of copper and copper products declined by 20% - to 325,1 thousand tons, the purchase of aluminum and aluminum products also decreased, reaching 189.75 in August tons, which is 15% below the July level. The fall in copper prices on Friday amounted to 0,7% (6250 $), aluminum - 0,5% (1845 $).
At the same time, according to the General Statistics Office of China, the production of basic industrial metals increased in China in August, causing a wave of fears of investors about the prospects for overproduction of non-ferrous metals. Thus, for the month of China was released 365 tons of copper, which is 9% more than the July level of production, 1,122 million tonnes of alumina (5%), 365 tons of lead (6%), 415 tonnes of zinc (10% ), 18,9 thousand tons of nickel (8%).
exception was the tin: for August production of this metal by China fell by 34% and amounted to 12,4 thousand tons. This news tin, in contrast to other metals, has risen in price at the auction on Friday at 1,4% - to $ 14,400 per meter. ton.
On Monday morning, prices of industrial metals again made their way down under pressure from rising dollar and the statistic data of China.
Market Oil
Last week, China has approved plans to increase the stocks of raw materials. Oil reserves are intended for use in emergencies, to increase to 169 million barrels. The determination of the Government of China plans to build up reserves confirmed by statistics published on Friday on the import of hydrocarbons: in August of this year, China imported 18% more oil than in August 2008. An increasing demand for oil and from America: these data confirm a continuing reduction of commercial stocks of raw materials in the United States, tracked API and the Ministry of Energy of the country.
Furthermore, in connection with the actual growth in consumption of black gold is not only China but the U.S. based International Energy Agency recently forecast has improved the fuel consumption for 2009 and 2010. This finally convinced investors the commodity market in the need to buy, and virtually all of last week hydrocarbons were traded in green. From Monday to Thursday quotations have risen by more than 5%.
However, on Friday followed by a fairly sharp and rapid correction of oil prices: Class Brent fell by 3.1% ($ 67.69), mark WTI has fallen to 3,7% (69,29 $). Against the backdrop of a strengthening dollar, it has evolved today, morning losses amount to about 1% of market value.
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At 16.00 Moscow time the value of the price index was 118.54 points RGBI
