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At the end of the day Russia”s stock market may deteriorate to a mark in the 1390 points on the MICEX Index

Mar 6th, 2010 | By admin | Category: News and Comments

Stock Market U.S.
Reporting companies technology sector of the market disappointed investors with the continuing concern regarding the sovereign debt of Greece were the main reason for declining a broad market index, SP 500, an amount not seen since February last year. Shares Qualcomm Inc. and Motorola Inc. lost more than 14% after a disappointing profit forecasts for companies. U.S. Steel Corp. the second largest steel corporation in the United States has lost 19%, on the basis of bidding against continuing for five consecutive quarters, the losses of the company. Papers of Freeport-McMoRan Copper Gold Inc. retreated by 10% after the price of the commodity markets continued their decline during 3 consecutive weeks.

Russia"s stock market
Russia"s stock market, despite the continuing oversold and the potential recovery is likely to follow the general sentiment of the Western markets, but the decline is unlikely to be an avalanche character. It is likely that the decrease in its day may reach in 1390p. MICEX index, but in case of recovery in the oil market situation for Russia"s securities market may become more favorable, which may help to stay within the 1400-1410p. being at the level of support 1406p. (61.8% of the horizontal lines Fibonacci). Drawing attention to the more "senior" scale, namely the weekly picture of the MICEX Index, it becomes apparent that the issue of declining confidence in the transition phase, will be relevant in dealing with Delta 1375-1380p. which the resistance level for 3 and 4 quarters of last year went so far in the state support.

European stock market
European stock markets rose on Friday, recovering after the worst of sale for the year, thanks to the banking sector. On Thursday, the U.S. Senate approved the Fed chief Ben Bernanke for a second term. Banking stocks were in demand. HSBC, Banco Santander, BNP Paribas added 0,51 - 1,85 per cent. Power Paper is also growing. Quotes BG Group, BP, Royal Dutch Shell and Total rose to 0,36-1,65 per cent.

FTSE-100 0.83%
DAX 0,74%
CAC40 0,62%

Asian stock market
Asian stock markets continue to decline against the background of data on industrial production have caused speculation about the conservation of the current policy of China in curbing economic growth. MSCI Asia Pacific Index lost 0.3% after it became known that the growth of export orders continued its growth in China, thus keeping inflationary pressures. Hebei Iron Steel Co. - Division of the second-largest steel worker in China, listed on the stock exchange, lost 4% of market value after the statement by the Deputy head of the central government on measures to combat excess capacity.

NIKKEI 225 6.98 0.07%
HANG SENG INDEX 121.76 0.61%
SHANGHAI SE A SHARE INDX -50.19 -1.60%
SHANGHAI SE B SHARE INDX -5.01 -2.07%
KOSPI INDEX 4.01 0.25%

Dynamics MICEX Index (daily chart)

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