Russia”s confidence indexes went up after exceeding the expectations of data on U.S. GDP for the 4th quarter last year
Mar 3rd, 2010 | By admin | Category: News and CommentsRussia"s indices went up on U.S. GDP data
Russia market opened with a gap down to 0.7%, playing a downward trend in the oil market, which left a local negative on American sites. Despite the positive momentum in the European sites, indexes added about 1%, confidence indexes went up only after exceeding the expectations of data on U.S. GDP for the 4th quarter last year. At 16:45 Moscow time RTS index adds 0.31% to 1,465.48 points and the MICEX index adds 0.19% to 1,409.29 points. As leaders of the growth of telecommunications and financial sectors, the sectoral indexes MICEX added 0,70% and 0,93%. In particular, SZTelek-ao 2,04%, Sberbank-n 1,36%, VTB JSC 0,67%.
Several high expectations for the financial statements of U.S. companies yesterday were again tested to have a negative connotation projections already in the first quarter of this year. For example, Motorola expects a loss in the first quarter, chip maker Qualcomm expects to reduce sales.
However, at 16:30 Moscow time, began to leave the data on an important bloc makrostatistiki the United States. At 16:30 came the data on GDP for the 4th quarter last year. Expectations - 4,6%, while the actual data significantly exceeded the forecast. Based on the dynamics of American sites, as well as the price of gold, in the 4th quarter of last year, it becomes apparent predominance of deflationary sentiment in the markets. Accordingly, given the termination of certain incentive programs in the U.S. by early February, against a background of low inflation rates significantly exceeded expectations for GDP becomes the determining factor in the dynamics of a rising stock market indices. At 17:45 Moscow time data on the go business activity index, Chicago PMI, slightly below expectations data for the previous period, 57.4 against 58.7 in December, at 17:55 Moscow time - data on consumer sentiment index, expectations 73,0 points against the data for the previous period of 72.5 points.
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