The worst of the market traded Gazprom Neft and Rosneft, the better the market feels the regional sector “telecom”
Mar 7th, 2010 | By admin | Category: News and Commentsmarket fell, but not much
Today, trading on the Russian sites have opened lower quotations, facilitated by the negative dynamics of U.S. markets and oil prices on Friday. However, after reaching the level of 1400 points the market could turn around and by the middle of the day partially offset reduction. Worse market traded Gazprom Neft and Rosneft, losing about 2.4%. Better the market feel of the regional telecom sector, the paper which added more than 4%. By 14.00 the MICEX index lost 0.7%, reaching a level of 1409.4 points.
Despite the fact that on Friday, the U.S. energy market and the area went to the new local minima, Russia"s "Bears" were unable to reach the level of 1390 points. Began in the price of oil recovery and positively opened Europe, Russia supported the market and allowed him to partially compensate for the fall. Further market dynamics will depend on the macroeconomic statistics, where particular attention will be drawn to the index of personal spending (Personal Spending, expected 0.3%, the previous value of 0.5%) for December, published at 16.30 Moscow time., And an index of business activity in manufacturing Industry (ISM Index, is expected to 55.2 points, the previous value of 55.9 points) for January, leaving at 18.00 Moscow time. This reaction to the data can be restrained. The main event of the beginning of the week is the submission to Congress of the Plan Volcker, to restrict the activities of U.S. banks, which will be held tomorrow. In anticipation of this event, players may miss the statistics "deaf ears", as it happened on Friday.
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