excess liquidity in Russia's market is pushing up quotes

On Thursday trading on Russia's stock market began a slight decline in major indices: the first minutes of the RTS has lost 0,15%, MICEX fell by 0,89%.

Share prices went into negative due to a drop in energy prices: the cost of black gold markedly subsided after the statistics, which showed an increase in stocks and reduced demand for oil in the U.S., resulting in oil on Thursday fell to 67 dollars /barrel . Reaction site and the statements of Fed cuts in programs repurchase assets: the pressure of these messages some investors chose to lock in profits.

However, the domestic market showed a decent resistance to the negative news: the sale very soon gave way to shop the most liquid securities. As a result, the market is not only stopped falling, but sometimes even stepping indexes in the green zone, and in the afternoon and did entrenched in the weak black.

However, we should not overestimate this sustainability of Russia's stock market: keep the area impact is largely due to excess liquidity of financial institutions: the risks in the real sector of the economy is large enough and the players prefer to direct funds to buy securities that pushed its price up.

At 16.30 out data on unemployment in the U.S.: the number of applications for benefits for the week decreased by 15 thousand, and amounted to 530 thousand. The statistics were better than expected: most analysts forecast a growth rate up to 550 thousand.

A good statistics - a pledge of good mood exchanges, which is also an additionaladvantage in support of quotations.

However, along with good statistic data also should not be overestimated. Even the positive statistics are not today able to significantly support the market: while the oil is low, to break the resistance level on the MICEX will not, and thus increase the risk of correction. The market in positive territory, but the market is weak.

Close to close the expected publication of another batch of data - sales of homes in America. However, the degree of influence of the statistics on the domestic market in this situation is questionable: there is money, and players prefer to buy.

The most interesting applications for the market to be given at the summit of the Greater Twenties, which opens today in Pittsburgh: leaders of industrialized nations will discuss a way out of recession, and the newly raised issue would be abandoning the dollar as a reserve currency. However, the first day of the meeting of G20 would rather introductory and keynote will hear tomorrow.

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