When a neutral external background tomorrow you can expect a bounce up
Sep 30th, 2009 | By admin | Category: News and CommentsRussia's stock market opened the session in a moderate positive territory, having played a positive futures on indexes and the growth of petroleum quotations, after which the indices lay sideways, waiting for the key statistics of the session. The first portion of statistics on the U.S. labor market, Friday and anticipates a report on unemployment was slightly worse than forecast, causing a partial profit-taking, but the expectation of the U.S. GDP has kept market participants from active operations. Data on U.S. GDP turned out to be better than forecasts, since the U.S. GDP in the II quarter of 2009 declined, according to the latest assessment on the 0.7% decline in the expectations of 1,2%. It also caused a wave of speculative buying, which was recorded immediately with the opening of trading in the U.S., where the major U.S. indexes went into negative due to a sharp decline Chicago PMI index to a mark of 46.1 points. At the end of the day MICEX closed at 1,197.20 points, losing 1.28%.
Tomorrow's session will again be saturated output important macroeconomic statistics. Open bidding will determine the outcome of the session in the U.S., but given the evening oversold, it is possible that a neutral external background will lead to small purchases at the start of the session. When you save a negative signal wave of sales will continue. Technically, the potential downward movement of S P500 after the closure of our limited, because the support can be a level of 1040 points, so tomorrow's opening session may take place in the rebound. Technical support levels on the MICEX also quite strong, in particular the potential of movement to the nearest support is slightly more than 1% to the level of 1180 points.
In the first half of the session tomorrow on the course of trading influence will provide data on unemployment, as well as the index of business activity in the manufacturing sector in the euro area. Second half session is full at the statistics from the United States. The key is the index of business activity in the manufacturing sector, which is also traditionally been published before the U.S. and unemployment could strengthen the positive or negative expectations of market participants on Friday statistics.
the favorites for today's session were shares of metallurgical sector. Raising Merrill Lynch recommendations on shares of Severstal has supported sector as a whole, which has recently held aloof. In addition, investors are once again reacted positively to the information on the growth of industrial production in China. Technically, while maintaining positive view on the shares of Severstal is the level of 252.7 rubles., Which is to reduce positions.
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