Financial News and Economical Crisis

 
  
 
 
  18.01.10 10:00 ;
 

Friday, January 15, 2010, trading on Russian stock exchanges in the major indexes finished lower. At the end of the day the RTS index dropped to a mark of 1559.05 points, losing 0.18%. MICEX Index finished trading in the “minus” on 0,2% and amounted to 1452.7 points.

Volatility on the stock exchange was related to the expectation of reporting one of the largest banks in the U.S. - JPMorgan, whose data from disappointed bidders. Net income for 2009 increased by 2,1 times and amounted to 11.7 billion dollars, while revenues fell short of investor expectations. Reporting giant provoked reduction optimistic about Russia”s market.

against negative dynamics of oil prices, shares of Russia”s oil and gas sector failed to demonstrate edinuoy dynamics of bidding. Quotes of Rosneft shares rose 0,19%, Transneft - on 2,86%, LUKoil - on 0,07%, “Tatneft” - on 0,41%. At the same time, the paper Gazprom fell 1,6%, Gazprom Neft - on 0,78%, Surgutneftegaz - on 0,55%.

Friday after nearly a week of growth decreased Paper metallurgical companies. MMC Norilsk Nickel fell 0.31%, Severstal - on 1,12%, NLMK - on 3,25%, MMK - on 0,74%, “Mechel” - on 0,01%.

Better the market shares looked “telecom”, common and preferred shares of Rostelecom grew 2.39% and 9% respectively.

In the evening session on FORTS the March futures on the RTS index fell by 0.222% and amounted to 155,185 items. Futures on Gazprom shares rose 0,021%, “Sberbank” and “Lukoil dipped 0.172% and 0.136% respectively.

As a result of ADRs trading on Russia”s actions amounted to (in one receipt): VTB (Eng) - 5,09, Gazprom (Eng) - 25,33, LUKOIL (Eng) - 58,4, Nor. Nickel (Eng) - 16,51, Rosneft (Eng) - 9,1, Surgutnfgz (Eng) - 9,28, Mobil TeleSystem (USA) - 50.47, Rostelecom (USA) - 27.35, Vimpelcom (USA) - 19,95, Mechel Steel (USA) - 24,8.

Monday morning rate of pair euro /dollar at Forex stands at 1,4379.

Oil continues downward movement, the March futures for Brent crude traded at $ 76.78 a barrel, Light - $ 78.15 per barrel.

U.S. stock indices closed lower on Friday. Worse than most traded financial sector, which contributed reporting JPMorgan Chase, reflecting the loss of retail units. As a result, Dow-Jones index fell by 0,942%, SP - to 1,241%, Nasdaq - on 1,12%. As a result, the value Dow-Jones reached the level of 10,609.65 points, SP - 1136,03, Nasdaq - 2287,99 points.

Asian sites were traded today different direction. The value of the Japanese Nikkei fell by 1,157%. China”s Shanghai Composite Index grew to 0,274%.

Thus, the current external background is more negative for Russia”s stock market. “If the rise in oil prices continues, it is able to support as shares of oil and gas sector and the market as a whole. Today, the American Stock Exchange will be closed for a holiday, so investors” attention will increasingly focus on domestic fundamentals,” - says Denis Kruglov, an analyst at investment company “Finam”.

“Against a background of falling Asian sites today, we look forward to the opening of Russian trading in the red zone, the activity will be low, America today is not traded - Martin Luther King Day,” - commented Alexander Razuvaev, head of analytical department of the IR “Gallio Capital.

“over Russia”s actions at the opening ceremony will dominate external negative that will affect the MICEX index, which is back down to 1440. In anticipation of new financial reports of foreign companies can leak the information that several enflame markets. Today, the United States celebrated Martin Luther King Day, therefore, activity in the market will be lower. It is possible that at the opening, we will show the main results, then the index will serve as a drift in the hallway 1440 - 1460 “- says Pavel Goals from IFC Eurogreen”.

  

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