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Oil paper that held the whole day better than the market, closer to the closing of steel take the position: Gazprom (-2,5%), Rosneft (-1.3%)

Oct 16th, 2009 | By admin | Category: News and Comments

Russia's stock market today, adjusted and made it clear that if growth is to be, hard and heavy. Bidders are living in anticipation of a correction and are ready to fix, speculatively open short positions.

In general, players are laid for a fall. The leader here can become banking sector, which sank today stronger than others: Sberbank (-3.01%), VTB (-5.12%). The fact that banks now fall easier than others, does not alter their long-term attractiveness. This sector of the last couple of months for a pulled all the other chips and after a small decline may resume its growth.

Oil updated annual maximum and reached out to a mark 77 dollars, which supported the oil securities. Opening the market took a little gepom (1-2%), and am almost all issuers showed positive results. But, unfortunately, none of the issuers, except Surgut vaccinated. Unable to reach a new local maximum.

In the afternoon, most of the chips turned into negative territory, thereby supporting the correction on the European sites. U.S. markets opened lower, which provoked a new wave of selling across all sectors. Has been released disappointing statistics, which toned down yesterday's win American indexes. The Dow was unable to consolidate above 10000 pm. Consumer sentiment index, which represents the results of a survey of consumers on the subject of confidence in the current economic situation and reflects the desire of consumers to spend their money, was worse than expected. Oil paper that held the whole day better than the market, closer to the closing of steel take the position: Gazprom (-2,5%), Rosneft (-1.3%). In the medium term we can expect the continuation of the correction. Russia market has lost its ideological thread that oil prices will determine the further momentum. Traditionally, autumn provides an opportunity to adjust to the twenty to thirty percent. May not be an exception and the current year. Recommendation - to pull the foot. To cover short positions and identify the medium of the foot.


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