stock market of Russia on Wednesday played the negative dynamics of world share platforms and took a pause in the decline in the region of 1080 points on the MICEX index before going to the U.S. unit of economic statistics, which may indicate the future direction of motion is continuing rally in telecoms on the waiting for news of the reorganization Svyazinvest.
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15:00 indexes fell to local minima week ago: MICEX index dropped to 1080.55 points (-2.21%), RTS index - to 1057.46 points (-1.51%). Value of chips on the stock exchanges fell by 0,4-3,7%.
Futures on the RTS index falling to the underlying asset at 15.5 points, indicating that the negative expectations of players.
cheaper Gazprom shares (-2.4% on MICEX), VTB (RTS: VTBR) (-1,4%), Lukoil (RTS: LKOH) (-2%), Norilsk Nickel (RTS: GMKN) (-3,3%), Rosneft (RTS: ROSN) (-2,8% and -3,7% in RTS), Gazprom Neft (RTS: SIBN) (-2, 5%), Sberbank Russia (RTS: SBER) (-0,9%), Surgutneftegas (RTS: SNGS) (-2,5%), Tatneft (RTS: TATN) (-3,2%) , Polyus Gold (RTS: PLZL) (-2,6%).
world stock exchanges show negative dynamics. European indexes sunk within 0,1-0,5%, U.S. stock futures traded at Tuesday (the contract for SP 500 index fell by only 0,002%).
Left afternoon revised data on changes in the euro area GDP in the second quarter coincided with expectations (estimated reduction in GDP retained on the level of 0,1%), so the market reaction was neutral.
players await the publication of final data on labor productivity and labor costs in the U.S. in the second quarter (16:30), data on the amount of U.S. industrial orders in July (18:00) and statistics on stocks of raw materials in the U.S. (18: 30).
Oil on Wednesday adjusted upward after the announcement of the American Petroleum Institute (API) on the fall of stocks of raw materials in the United States, which market participants see as signs of recovery in demand for fuel. Futures price for WTI crude oil for October is $ 68.65 per barrel (0,9%).
Meanwhile, on the eve of the October futures price for WTI on the NYMEX fell $ 1,91 - to $ 68,05 per barrel, which is the minimum at closing on August 17.
According to API, reducing inventories of gasoline in the U.S. during the week from 22 to 28 August totaled 3.19 million barrels. The Institute receives information from operators of oil refineries, oil storage tanks and pipelines on a voluntary basis.
From the official data on stocks of raw materials experts expect growth stocks of gasoline (according to the Ministry) to 900 million barrels.
analyst at SG Finans-Invest Stanislav Savinov believes that, despite the possible formation of momentum up after the fall, psychological sales could last until the support in 1075 of items on MICEX. Efforts to close the gap down will depend on the nature of the emerging data, primarily from data on the number of employed in the private sector, the United States from ADP (16:15 IST) - less than expected job cuts. Current sales are further proof that the market is ready to adjust the summer rally, but for better spurt to overcome down the level of 1075 points on the MICEX index, he said.
According to analyst Aton Natalia Vygodinoy, may revive bid from the U.S., and while the MICEX index was drifting just below the support level 1090 points. Next nearest support is at 1050 points.
According to the analyst IFC Alemar Basil Konuzin, in defiance overlooking makrostatistike investors paid no attention to the signals revive the global economy, coming from different parts of the world, preferring to record profits. However, despite prevailing on world stock markets negative mood observed correctional movement, apparently close to completion. Data from Europe and the United States, whose publication is expected on Thursday and Friday, could break the fall markets.
from corporate news should provide accountability to Rosneft, which generally coincided with the consensus, but in contrast with Lukoil looks blankly, which may be reflected in weaker dynamics of Rosneft shares in the short term, he said.
In turn, an analyst at Bank of Moscow (RTS: MMBM) Yuri Oxen also notes that the high value of the index of manufacturing activity ISM Manufacturing, the first time since January 2008 exceeded the level of 50 points, and good data on the sales of homes in the United States could not convince investors to continue buying. Inscribed to take profits was much higher, resulting in a rollback of prices as the U.S. stock markets and commodity markets. It seems that even when receiving the end of the statistical evidence of recession in the world markets are not yet ready to move on after the impressive growth in recent months.
As the head of the Department of trust management Metropolitan Financial Corporation Kirill Alekseyev, Russia's market is currently estimated fundamentally in terms of price /earnings (P /E) at the level of more than 12. This is a fairly high rate, which is more than the expectations of investors regarding the normalization of conditions and return the economy to growth.
According to experts, the level of support before the evening of statistics in the United States stands 1,070 points mark for the MICEX index. If a block of statistics on the U.S. labor market will be negative, then by the end of the day correction could go to a collapse of quotations to the levels of 1040-1050 points on the MICEX index, said K. Alekseev.
Asian markets fell Wednesday amid falling commodity prices and declining profits forecasts of companies, including retailer Seven I Holdigns Co. and the developer Sekisui House Ltd.
Japanese index Nikkei 225 fell by 2,4%, Hong Kong's Hang Seng lost 1.7%. Australia SP /ASX 200 fell by 1,7%, despite reports of an unexpected rise in GDP in the second quarter of 2009.
Economy of Australia in the second quarter increased by 0,6% compared with the first three months of 2009, which was above the average forecast of economists, is 0,2%. The main factors increase the GDP growth in investment was associated with increased state spending and consumer spending.
Chinese Shanghai Composite Index added 1.2% after the announcement of China Premier Wen Jiabao that the government would remain moderately loose monetary policy. The Chinese authorities do not plan to change the anti-crisis strategies that, in their opinion, to be effective.
indices in the United States on Tuesday dropped a third straight session. Concerns related to the fact that banks may face further losses have leveled strong statistics on the U.S. manufacturing sector. Industrial activity in the U.S. increased in August for the first time since January 2008, the ISM Manufacturing index rose to 52.9 points compared with 48.9 points a month earlier, showed data from the Institute for Supply Management (ISM).
Cost securities Wells Fargo declined by almost 5%, despite the fact that the bank announced its intention to repay the government, without resorting to issuing new shares.
AIG's share price collapsed on the basis of trades by 21%. Analysts Bernstein lowered recommendations for the securities of the insurer to below market with at market. According to experts, the government could weaken support for AIG, believing that the situation in the company no longer represents a risk to the financial system.
Among second-tier on the MICEX exchange on Wednesday rolled back the lead action Novolipetsk Steel (RTS: NLMK) (-6,7%), Severstal (RTS: CHMF) (-5,3%) , Raspadskaya (RTS: RASP) (-5,1%), TGK-6 (RTS: TGKF) (-3,5%).
grew up action Sibirtelecom (RTS: ENCO) (11,5% and 8% of the ordinary prefecture ), Volgatelekoma (RTS: NNSI) (5,4% and 5,9%), Uralsvyazinform (RTS: URSI) (5,6% and 5,2%), Far East Telecommunications Company (RTS: ESPK) (4,7%), RBC Information Systems (RTS: RBCI) (4,9%).
total volume of shares traded on the RTS classic market to 15:00 made $ 1.54 million in Section RTS Standard turnover reached $ 58.03 million, on the MICEX exchange transaction volume exceeded 26.5 billion rubles (leaders - ordinary shares of Sberbank and Gazprom (RTS: GAZP) - for 8.2 billion rubles).
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