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Significant reduction in the paper today, may be subject to the banks and neftyanka, the market will look better than Gazprom

Jun 15th, 2009 | By admin | Category: News and Comments

Nachnem weekly decline

Trading on Russian stock market on Thursday took place in small amounts in the lateral dynamics of bidding. Investors profit recorded by the most expensive paper and carefully buying that kept pace with market growth. However, the activity of the players before the long weekend to be rather weak. Better market looked GMKNornikel paper (3.9%), Polyus Gold (5.6%). Of the oil and gas companies to better market looked Gazprom ordinary shares of which added 1.3%. Fixing of profits in the securities of banks led to a decline in shares of savings to 2.7%, VTB - at 1.4%. At the end of the trading the MICEX index rose by 0.4%, RTS index rose by 0.5%.

In the U.S. market on Thursday and Friday there was a fairly dynamic vyalaya bidding. Weaker than expected growth of Michigan index of consumer confidence did not stimulate investors to buy U.S. shares. Increased production by OPEC in May, confirmed by the cartel, led to a reduction of quotations on the black gold, which has a record profit in the securities of oil and gas companies. At the end of the trading Dow index rose by 0.3%, SP - grew by 0.1%, NASDAQ fell 0.2%.

External background at the opening of the Russian market negative. Japanese Nikkei fell 0.7%. Chinese Shanghai Composite drops to 0.3%. Oil brand Brent traded around the mark of $ 70.2. Futures on the U.S. S P500 fell by 0.5%.

Reducing ADRs for Russian shares on Friday, a correction on oil and moderately negative dynamics of bidding for the Asian sites this morning form the preconditions for the opening of the Russian market with gepom down to 1.5-2.5%. Today the Russian market will be officially lifted the ban on the opening short positions. Given the persistence of many players' expectations of correction, the possibility of short may be another reason to lower prices. The most significant decrease can be subjected to paper banks and neftyanka. Better market certainly looks Gazprom. In general, the expectations of today negative. In the event that oil will continue to decline - the Russian market will follow suit with double speed.

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Analyst Ratings


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