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Russia market has not yet determined the direction of further movement and consolidated

Sep 30th, 2009 | By admin | Category: News and Comments

On Tuesday, trading on Russia's market began growing major indexes, but quickly returned to neutral territory, the MICEX index most of the day spent in a slight negative to the previous close, the RTS index looked a little better against the backdrop of continued with the ruble. In this case a significant impact on intraday momentum was not a regular decrease in the Bank of Russia refinancing rate (by 50 basis points, to 10%) or positive assessment of the status and prospects of Russia's economy, made at the International Investment Forum Russia Calling!, Held by the investment VTB Capital. Following inconspicuous trading day MICEX index added 0.38% (1 212.75 points), the RTS index rose by 0.95% (1 260.56 points).

continued buying in the electricity industry (MICEX PWR 2,94%), shares of FGC UES (2.47%), who opened with a gap up to the end of the day lost a large portion of the increase, but the focus remained shares IDC Holding (7 , 73%), IDC added quotes from 5 to 16%. Some look better than the market commodity sectors (Iron & Steel Index MICEX MM 1,19%, oil and gas MICEX OG 0,9%), however, it should be noted that the most liquid securities have suffered losses (MMC Norilsk Nickel -0.98%, Gazprom -0, 61%, Rosneft -0,7%). Shares of banks in the small plus (0,66% Sberbank, VTB 1,06%), financial MICEX FNL 0,72%. Among outsiders - the telecommunications sector (MICEX TLC 0,21%) and engineering (MICEX MNF -1,08%).

Expectations for today: thus, Russia's market has not yet determined the direction of further movement and consolidated. It appears that the signal for the activation dynamics can be overcome local maxima, or, conversely, penetration down the line supporting the short-term growing trend. Thus, although Russia's market in the last few sessions to monitor developments in foreign indices and commodities markets to a lesser extent than in previous months, we believe that the world markets remains the most important factor that can determine the direction of exit from consolidation. From this point of view of great interest today published the final value of the U.S. GDP for the second quarter and the reserves of oil and petroleum products.

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