«Shorts» add Russian market volatility, but does not affect global trends

11.06.09 20:23 ;
  Today's the beginning of the trading on the Russian stock market took a neutral stance, with a small gap up on the main index. However, the optimism of investors at the opening of the second half of the day followed a desire to record a profit. By 13.20 Moscow time the MICEX index added 0.2% and stood at 1,135.97 point, RTS index - 1,126.72 points (0.44%). In general, trades today were fairly quiet, the activity of the players was low.

blue chips during the day showed divergent trends within 2% from yesterday's closing price. Worse market looked Paper «Sberbank» (-2,69%). The rapidly growing until this paper is stronger than others, and corrected, said Stanislav Kleshchev, Analyst, VTB 24. Spolz down and VTB (-1,4%). Of the uncertain trends in several strike actions GMK «Norilsk Nickel» and «Polyus Gold», which this week led to a small upward trend. However, according to Sergey Belov, Asset Manager IC Finam This trend is still short-term nature. Active purchases of securities Nornikelya contributed to positive momentum for industrial metals in London.

In the plus shares traded today, «Gazprom» (1,34%), «Surgutneftegaz» (3,32%) and «Severstal» (3%). In the outsiders were paper AFK «Systems» (-1,5%), FGC UES (-3,37%), «RusGidro» (-2,16%).

At the end of the day RTS index rose 0.48% to 1127.23 points. MICEX Index has completed trades in the «black» at 0.42% to 1138.52 points. «Despite the continued rally in the oil market, the Russian site in no hurry otygryvat positive. In general, the shorter week, we closed a small decrease in that whole week with the growing of oil, in my opinion, very negative for the market and possible talks about an impending major correction next week », - believes Alexander Zyurikov, portfolio manager IC Finam .

«In general, our market is as difficult to climb. If European stock indices showed today, although a small (within 0.5%) but the growth is in our market place small fixation profit. This can explain anything - and the approaching weekend and the upcoming Monday permission to open shorts on paper. But we still advise not to exaggerate the impact of these factors, especially the latter. The point is that the share of Russian investors in our market, much less the presence of foreign capital. Therefore, a downward effect, which may be called at the beginning of the opening week of shorts would be still limited. Especially since many of the willing zashortit have already found the opportunity to do so as a short-term market, and in the western areas », - commented Stanislav Kleshchev, Analyst, VTB 24.

«It is possible that due to the resumption of shorts at the beginning of next week we will see an increase in the volatility of our stock markets. Strong hike down, we do not expect, but this period of instability is better to wait for 2-3 tier papers, where almost every day there is a demand for these or other securities of portfolio investors », - says Alexander Potavin, chief analyst of the infrared ITinvest .

«No matter how tempting the opportunity to record a profit prior to 3-day weekend, but hastened to take advantage of it not many. At least, the intensification of sales has not been observed before the U.S. macroeconomic statistics. As a result, data on retail sales were at the level of predictions, and data on unemployment have been contradictory and require further analysis. Regarding the outlook, it does not preclude the continuation of growth in the Russian market. Explicit reasons for the lack of sales, conditions leading international markets remains moderately positive, and oil prices are slow to fall », - noted Ivan Fomenko, Deputy Head of fiduciary Absolut Bank.

In the evening session on FORTS June futures on RTS index rising to 0.81% at 113,050 points. Futures for shares of Gazprom and Lukoil added 0,76% and 1,5% respectively, the futures on the shares of Sberbank rising to 0.43%.

Exchange pair euro /dollar is at a level of 1.408. Today, the MICEX to the dollar gave - 30.93 rubles for one euro - 43.34 rubles. Thus, the value bivalyutnoy basket was 36.53.

By 20.00 Moscow time the price of Brent blend brand was $ 72.47 per barrel, U.S. light crude oil Light Sweet - $ 73.38 per barrel.

European court concluded the day in the «black»: FTSE index rose 0.56%, CAC 40 index added 0.59%, DAX index rose 1.33%. Trades in the United States opened up the growth of major indices within 1%. At 20:00 Moscow time the Dow Jones rising to 0.66%, the index SP - on 0,79%, the index of Nasdaq - for 0,61%.
  

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