Financial News and Economical Crisis

We are waiting for corporate reports

Russia
Yesterday, Russia”s stock market is rather unexpected (at least for me personally) updated the local maxima: the RTS index has grown day by 1,4%, and added another 0.1% in the evening, the MICEX index rose by 1.85%. Trading volume on the RTS stock exchange amounted to $ 3.96 billion, of which $ 1.93 billion were in the tools of the derivatives market, the MICEX Stock Exchange Section of gain by selling at 177.22 billion, turnover in the index amounted to 43.05 billion rubles.

market looked better metallurgical sector (3.13% on MICEX sectoral indices) - Update on the background of the prices of steel local maxima and hype around the initial public offering of Rusal rally in the sector continued.

America and Europe
U.S. stock indexes are not traded because of the celebration of Martin Luther King Day, the indices of the Old World have increased by an average of 0,7%. The main supplier of optimism and reasons for the transactions are now expectations of good corporate reports for 2009.

raw materials, currency and so on
Metals in trading in London rose, gold traded near a mark of $ 1140, oil prices have stopped falling and are slightly above $ 78.5, a pair euro /dollar main intrigue rests in the answer to the question: “How good an American dollar as a reserve and a stablecurrency, and how much the euro could suffer if problems in countries PIGS “?

Statistics and Reporting
today to be pretty saturated in terms of information per day: at 12-30 (Moscow time) is published by the Consumer Price Index for Great Britain, 13-00 (Moscow time) leaves the index of the Institute ZEW economic sentiment in Germany and the euro area, at 17-00 ( ICN) published data on volumes of purchases of securities in the United States, at 22-00 (Moscow time) will address Marvin King, also during the day the Bank of England will publish a report on inflation. From the corporate sector can be distinguished publishing operating results X5 Retail Group in the past year and financial statements of Citigroup (before the start of the trading session in the U.S.) and IBM (after trading in the U.S.).

Forecast
Today, you can expect a neutral opening of trading on Russia”s stock market, which in turn caused by a neutral external background. With regard to the direction of subsequent motion, the equal area as the likely continuation of the rally, especially because most players seem to focus on growth, and quickly roll back down, flip-flop which may be, for example, unreasonable expectations of accountability. My personal view is that the market is irrational and somewhat overbought, but the assumptions and reality can be different things.

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