By the end of today”s session on the Russian market will be dominated by neutral dynamics of auction
March 24th, 2010
MICEX index consolidates near the level of 1420 points. Here, he can stay until tomorrow statistics on the labor market in the U.S.
consolidation of the market after rising earlier in the week continues. The MICEX index falling to within 1% against the corresponding decrease in quotations of oil futures. Similar dynamics and on the European stock markets (DAX -0.5%, FTSE -0.8%). In general, an auction, as we expected, pass quietly, without any sudden movements. After declining in the first hour of trading, the MICEX Index is held at the level of support for 1420 points. Almost all blue chips today in the red, the major names (Gazprom, Lukoil, Sberbank, MMC Norilsk Nickel and Rosneft) lose about 1%. More confidently look the producers of precious metals (gold and Polymetal Polyus) despite a decline in gold prices, as well as VTB and Severstal - the papers in a symbolic plus in the moment. Afte1000r several days of good growth pays for itself in the fixing of profit regional telecoms (quotations on individual securities” prosedyayut “up to 4%).
There are no new ideas today did not appear. Anyway, the news background is absolutely neutral and unsaturated. Of the noteworthy developments today to select the ECB meeting and the subsequent press conference of his head, and go at 18.00 Moscow time data on factory orders in the U.S. (forecast 0.5%).
We expect that by the end of today”s trading is waiting for us neutral dynamics of auction. The most important figures - the January payrolls - will come tomorrow evening. So look forward to keeping stock indexes near current levels during the day, although do not rule that could increase sales, triggered by the closure of long positions, the most cautious player to exit statistics.
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