Results of previous day

Wednesday on Russia"s stock market выдалась pretty saturated as information events, and on the dynamics of emotions related to gamblers during the day.

RTS index rose 0.14% to 1446.36 points, indexes MICEX and RTS Standard - 0.2% and 0.47% to 9640.29 and 1391.25 points respectively. Trading volumes have increased.

In addition to traditional, but this is still valid concerns of the Greek sovereign debt, as well as fears that the Chinese central bank will continue to tighten monetary policy in the middle of the workweek state of anxiety fueled market participants and events of another kind.

In particular to continue the conversation about the recently announced by U.S. President plans to reform the financial sector in light of his upcoming speech to the annual report on the political and economic situation in the country. In recent days, Mr. Obama struck a wave of indignation from the investment community, so the disclosure of additional details of the planned reform and the tone of his comments were an increased interest and increased the uncertainty in the markets. In the meantime, more decisive action taken by the President of the United States, regulators have left untouched on the other side of the Atlantic Ocean, where the European Central Bank President Jean-Claude Trichet expressed his support for similar ideas.

In addition to the possible spread of more stringent rules of the game in the financial sector in key developed economies, investors have been forced to discount and increase the likelihood approximation since the widespread departure from the soft monetary policy. This discouraged some investors ECB council member Axel Weber, who said that the ECB may begin to withdraw programs to stimulate the economy in the first half of this year against the background of any indications of recovery of business activity in the euro zone. It should be added and the rampant anxiety that the outcome of the ongoing meeting of the Fed, instead of a similar previous meeting Steytment FOMC members will present some surprise: either increasing the discount rate, or bringing the time of completion of additional programs to stimulate the economy.

Together, these causes contributed earlier collapse of European stock indexes in the first minutes of trading, selling and that Russia"s stock market since the collapse of many stop-loss below support at 1,370 points on the MICEX. The stab1000le situation on the oil market after a fairly good data on the stocks of the API could not somehow damp this morning drawdown.
However, as often happens after the climax of sales followed by the restoration of the situation. Many speculative-minded market participants took advantage of this moment, to the maximum benefit to close their lucrative positions, reducing the risks of adverse outcome for a stock of the Fed meeting. Perhaps Russia"s fallen in price on the shares fell funds, not the end of the "Download" papers after the influx of new funds of depositors. Whatever it was, but from midday market went into a trajectory of growth, supported by further and have published reports from Abbott, ConocoPhillips, Caterpillar, BlackRock and Boeing.

When we approach the 1400 points on the MICEX index upward movement had stalled, and after a rather weak sales data in the primary housing market was replaced by a reciprocal movement down to the middle of the intraday range. Sales of new homes fell to 342 thousand instead of the expected increase to 366 thousand, showing that the current restoration of the American economy is a reflection largely of gosstimulov. Demand for housing remains relatively small, against the background of the expiration of programs to promote primary buyers, before it was renewed by legislators.

better market once again looked like the representatives of the energy segment (Micex PWR 2.39%), have become attractive on the background of increased uncertainty in the dynamics of commodity markets. Their portion of free cash in the market and have market shares of the telecommunications sector (Micex TLC 1.18%). Significantly ahead of market shares and financial segment (Micex FNL 0.83%): VTB Bank (1.41%), Sberbank (obyk. 0.93%, to inculcate. 2.9%). The growth of the past contributed a statement by one of the top managers of the bank Natalia Karaseva, announced the possibility of release rate of retail loans in the pre-crisis levels in the II quarter of this year.

Shares of oil and gas sector (Micex OG -0.18%) showed mixed trends. Again "spoiled" the overall result of the action Rosneft (-1.86%) and Surgutneftegaz (-1.43% obyk., scion. -1.97%), Which is still reflected fears that the words of Vice-Premier and Finance Minister Alexei Kudrin on the repeal of zero export taxes on production in East Siberia oil will find the form of specific decisions.

majority stake in the steel sector (Micex MM 0.23%) finished the day in positive territory.

look at today"s market

On Thursday, the restoration of Russia"s stock market after a long fall may continue. The reason for this will be a positive reaction of global markets to summarize the meeting held on the Fed.

the federal funds rate was maintained at the same level of 0-0.25% per annum, with the passage, that this situation will continue for a long time, was not subjected to correction. Also, do not become "touched" by the representatives of FOMC discount rate, as expected by some experts. At the same time the Fed reaffirmed their commitment to previously stated plans for the removal of additional measures to stimulate the economy: stop the program redemption of debt securities secured by mortgage and agency securities by March 31, as well as a number of programs to provide liquidity to February 1. Together with a slightly more optimistic assessment of what is happening to the economy of investment companies and employment is allowed to believe that Mr. Bernanke and his colleagues have become increasingly convinced that economic recovery is sustainable. The fact that the decision to leave interest rates at the same level it was not unanimous -1000advocated for raising the head of the FBI in Kansas, Thomas Hoenig, the mood of a particular way does not affect (SP 500 0.49%). Futures on interest rates reflected a slight increase in the chances of ending the policy of low interest rates, which can be expected to occur with a probability of more than 50% only in November.

After the bidding played the U.S. president Barack Obama has a report on the situation in the country, which is not introduced confusion in the prevailing balance of power. Support bulls have felt after his words that the worst thing in the "storm" is over, and after disclosing his plans to create new jobs. In this case, bidders decided not to focus on his statements that he would veto legislation to reform the financial system, if the legislators would make it significant changes. Thus its proposals, he did not stop. Stock indexes in Asia on Thursday morning, almost everywhere settled in the positive region: Shanghai composite -0.05%, Hang Seng 1.37%, Nikkei 225 1.58%. Grow and futures on U.S. indices (SP 0.67%).

Keep restoring Russia"s stock market after opening with a break up within 0.5-1.0% unfavorable situation on the energy market. Even before the evening oil prices on the sort of WTI slipped down to $ 73/barr., And on Thursday morning returned to $ 74/barr. Where can once again embark on the path downward. Strengthening U.S. dollar (EUR /USD 1.402) to a new high for the six months against the euro after the decision Fedrezerva about interest rates, create all the prerequisites.

may affect and technical factors. Since the opening of the MICEX index will be near the previous day (1405 points) in the future as the resistance can be passed down to address medium-term trend is up on the lows of December (near 1,415 points) and the zone of 1420-1423 points. From one of these levels the market can go down. However, in anticipation of tomorrow"s publication of strong data on U.S. GDP for the IV quarter of a desire to play down will be negligible.

Today, probably will again very volatile. To contribute to this would be in addition to the increased uncertainty of further vector of the market, and go today reports on Altria Group, AstraZeneca, AT T, Bristol Myers, Colgate-Palmolive, Eastman Kodak, Eli Lilly, Ford Motor, Motorola, Nokia, Procter Gamble (in Russia under IFRS report back to Gazprom) and macroeconomic data: an application for unemployment benefits and orders for durable goods in 16-30. Also today, in 17-45 will address U.S. Treasury Secretary Timothy Geithner, and 20-00 will vote on the reappointment of Ben Bernanke to head Fed.

Dynamics trades on the market of Russia will be determined by the changing situation on the commodity and currency sites
Review of the FOREX market for 27.01.10
Season records continues
Crisis affect
Obama intends to freeze the number of government programs
Akhmetov was not identified with the banks
Ghost of default

Nouriel Roubini od27n the fears of sovereign risk and paradoxes of the struggle with the deficit and debt ...

Oil on Thursday traded below $ 74 a barrel on the growth stocks in the U.S.
Obama Speech infuse optimism in the stock markets of the Asia-Pacific