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The Russian market is overbought, so we can not exclude the correction to reduce the index in coming days |
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By the end of the trading session Thursday, the Russian stock indexes have shown a positive trend. By 18:34, the MICEX index rose by 1.37%, while the RTS index added 3.7%. Trading on Russian stock exchanges today began with the growth of the major indexes, which in the morning and closer to the opening of trading the U.S. accelerated the pace of upward movement, and in the middle of the day were consolidated near the intraday highs. At auction in Europe, the oil market and the majority of metals, along with futures for U.S. indices, today you can watch the rally, provided by the news of the outcome of EU leaders plan to break out of the region's debt crisis. Politicians in the lengthy negotiations failed to reach agreement on several important issues. In particular, it was decided to increase the European Financial Stability Fund with 440 billion to 1 trillion euros ($ 1.4 trillion) and bring the capital adequacy of major European banks to 9% (with the result that they will attract a total of just over 100 billion euros). Greek bond holders agreed to write off the debts of 50%, while the Chinese authorities have promised to take part in the formation of a European capital stabilization fund. The plan was received with optimism by investors. Published before the opening of trading in the U.S. data are also pleased with the market participants, and showed that the country's GDP in Q3, according to preliminary data, rose by 2.5%, which coincided with forecasts and exceeded the increase in the last quarter of 1.3%. Private consumption increased with 2.4% (+1.9% ozhid., before. 0.7%). The number of initial claims for unemployment benefits last week fell from 404 thousand to 402 thousand (401 thousand ozhid.) and the total number of hits for the week ending October 15 decreased from 3741 thousand to 3645 thousand (3700 ozhid. thousand). The quarterly results of companies such as Exxon Mobil, Colgate-Palmolive and Procter & Gamble also did not disappoint investors. Trading in the U.S. began with the growth of the major indexes, which in the first hour of trading have added about 2-2.2%. The cost of oil and metals to the end of trading in Russia grew. Futures for WTI crude oil for December delivery rose 3.33% and traded at $ 93.2 per barrel. Futures for Brent crude oil rose by 2.89% and were at a value of $ 112.07 per barrel. Leaders of growth by the end of trading Russian securities were Raspadskaya (7.41%) and quotes the CIP (5.54%). Outperformed the market and preferred shares of Transneft (+5.3%), Gazprom (4.68%) and Rosneft (3.64%). The leaders of the fall of the East remained paper waste (-3.51%) and quotes CMI (-2.29%). Preferred shares of Rostelecom fell 1.37%. Tomorrow at 16:30 in the U.S. will know the change of personal income (+0.3% ozhid., before. -0.1%) And expenditure (+0.6%, prev. +0.2%) In September. At 17:55 will be published by the consumer confidence index at the University of Michigan in October (57.5 ozhid. like, before. 58 n.) The calendar quarterly reporting tomorrow before the opening of the main trading appear to Chevron and Merck. In Europe, the publication of important macroeconomic data is not expected. In Russia, the financial results for the nine months of this year will present Pharmstandard and Magnet. The MICEX index during trading Thursday, overcame the opposition of 1515 points and rushed to the importance of the following items in 1555 (line EMA200 daily and weekly chart EMA55), reaching an intraday high of 1,550 points. The RTS index in this case exceeded 1,600 points. In the last hour of trading, in view of some slowdown in the upward movement in U.S. stock markets, our indexes also retreated from the maximum values. Overcoming the MICEX mark 1555 points is especially important, as a matter of fact, this level appears last major obstacle to the demolition of the medium-term downtrend. At the moment, "bulls" were expected of such a plan, which caused investors have confidence in and offered hope for the future. Now players will have to look at improving the new causes of purchases, which in the near future may make corporate and macroeconomic data. The following week, also will meet the U.S. Federal Reserve. In the short term, the Russian market is overbought, and therefore can not rule out a correction to reduce the indices in the coming days. Results of EU summit laid a good foundation for growth, however, the "bulls" have yet to prove its intention to play mid-term trend.
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