Today, the oil price quotes observed a slight positive trend
Sep 7th, 2009 | By admin | Category: News and CommentsDuring today's trading session, Russia's stock market showed steady growth. The activity of trading was fairly low and the MICEX index was trying to gain a foothold above the 1,100 points mark.
Today, the oil price quotes observed a slight positive trend, however, to return to the uptrend, it is necessary to overcome the level of $ 68 per barrel mark Brent. On Wednesday, OPEC held a meeting, but any break from this meeting did not expect: the quota for oil production are likely to continue at current levels.
As part of this week rather isolated dynamics can show the shares of the electricity sector, as at the level of Government may decide on the issue of tariffs for the next year. The main issue is how much prices will rise.
Statistics on the results of the company Severstal for 1 half proved to be weak. Because of the large losses of North American assets of the company as a whole, shows the detrimental consolidated results. The volume of steel production in the U.S. and Europe are now at the level of 50-60% of the volume in 2008, in connection with what the company, having offices in these regions show very poor results.
Labor market data, published on Friday proved to be contradictory, while in August slowed significantly reduce the number of jobs. In my opinion, these indicators of labor market increasingly is considered a moderately positive. The number of jobs is decreasing much slower pace, as for the unemployment rate, which reached 9,7%, there is unlikely to have someone from investors is an illusion - an indicator of the level of 10% can be achieved by the end of this - the beginning of next year. Moreover, only last month the unemployment rate unexpectedly instead of growth at 0,1 to 9,6% showed reduction to 9.4%, which seemed rather strange.
Trades in Asia's growth indices in the main trading floors in the region. Note that the Chinese stock market once again showed an upward momentum against the background of statements by representatives of the authorities regarding the preservation of incentives to support the economy. Downtrend that has emerged in August in the Chinese market, has been holed up at the end of last week and is now more likely Consolidation dynamics.
European stocks today, rising against the background of positive statistics from Germany: factory orders for July rose by 3,5%. For now, all attention was focused on the European trading session, as in the U.S. output. In general, the current trading week will be uneventful serious macroeconomic data for the U.S..
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