Too many “scary”
Current week of January in Russia market was marked by negativity from external markets. All week, falling oil prices, the euro was taking the position in relation to other currencies amid fears of economic problems in Greece (as well as Portugal, Spain, Latvia, etc.), cooling the economy and the tightening of monetary policy in China, and by the end of week - the limitations of speculation for banks, proclaimed by the President of the United States. Moreover, in the U.S. and unemployment worse, etc.
Seasonal decline of foreign markets was expected later, after the end of the reporting. But all these “horror stories”, put together, led to an earlier drop in world markets.
In the early days of the week (18 and 19 January) for the Russia market, regardless of the external negative, “go” several pripozdnivshiesya residents, causing irrational growth to increased volumes. This has lead Russia”s indexes into quite decent levels: RTS - to the level of 1590 points, while MICEX - to the level of 1490 points. But in the next few days with the negative external markets has surely prevailed, and eventually dodavil us by Friday.
Today, through a technical correction of the greatest decrease observed in the former leaders of growth: real estate companies, RusHydro, steel companies. Besides, the last completed “expectations” - published the results of placement Rusal IPO on the Hong Kong Stock Exchange. Placement took place about the middle of the expected range. If it were not for recent falling metals prices on world markets, accommodation was better.
oil and gas sector closed New Year “gepy”, so at these levels may appear shoppers. Further, if no further negative, the potential drop is limited (1380 - 1400 pp. On MICEX), and from these levels may be prudent to begin shopping.
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