Tuesday, May 26, 2009

AKB "Absolut Bank": The market is trying to determine how long it may be started corrective decline

Deputy Chief of the Division of fiduciary Absolut Bank Ivan Fomenko:
An auction for the Russian market was determined mainly by the dynamics of oil quotations, and geopolitical factors. Thus, against the backdrop of North Korea's nuclear test, Asian markets were trading in negative zone, which set a negative opening of Russia's trading session. Subsequently, the intention to sell the Russian players were backed by the decline of European stock market indicators.

The biggest losses have the paper today the banking sector, in particular, «Sberbank» and «VTB». Do not lag behind them, and shares of oil companies, which declined within 3-4%. Pressure on «neftyanku» has a correction in oil prices.

The exceptions were the paper «Polimetall», going against the market. According to him today was an increase, exceeding 11%. The upsurge in the interest of buyers, apparently due to the fact that the securities of the issuer at the end of May will be included in the calculation of the index MSCI EM.

Now the market is trying to determine how long it may be started corrective decline. The duration of the fall will depend largely on external factors and the market reaction to the results of the upcoming OPEC meeting. It is obvious that the root above the mark of 1000 items RTS index market has not yet been reached, and, apparently, in the near future tenders will be held near this level.

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