correction could be deeper
Overall optimism shown by the world financial markets on Monday, followed rehabilitative expectations. European sites, setting new records since the beginning of 2009, opened in negative zone. Dynamics of the major U.S. futures also shows a negative open trades in the United States. The Russian market is no exception. Following the decline in crude oil quotations opening the domestic market was in negative zone. Met with resistance at 1100 points on the MICEX index, speculative-minded investors prefer to fix some of their positions. Quotations mark WTI crude oil declined by 1.5%, but still remain above $ 70 a barrel. Sort Brent traded at $ 73 a barrel. Quotations of oil above $ 70 mark in the hinder a deeper correction of the domestic market.
This morning, Bank VTB reported in the first quarter of 2009, and its losses have exceeded the expectations of analysts. On the negative news of the issuer's securities fell almost 5%. But the fact of collecting requests for preference in the additional issue will hold shares of VTB in the near future from a substantial reduction.
Today is expected to yield macroeconomic statistics from the U.S. (individual income and expenses), which can determine the further movement of the markets of America. If the index value S P500 will be able to gain a higher mark of 1000 points, perhaps the domestic market will be able to add more.
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