Wednesday, June 10, 2009

GC "Alor": Oil cost $ 70 could shake up market

Oil cost $ 70 could shake up the market - Anna Lyukanova, CC «ALOR»

Before the Russian stock market in the absence of ideas held fairly quiet trading session on low volumes. The indices continued to consolidate in the region of 1100 points, waiting for signals from the outside, which in the course of yesterday's session did not come. Following the closure of our situation has not changed, but the achievement of oil prices before the start of bidding $ 70 a barrel could become a powerful driver for the opening. A positive factor is the increase in U.S. futures indices. The opening promises to be positive, and the indices can go back to the afternoon peak, reached the previous day. Further evolution will be determined by the situation in the areas of commodity and futures on U.S. indices.

The macroeconomic background is saturated, which can increase volatility during the session. Particular attention is paid to data on oil and oil products in the United States, which will be published at the finish trading session, and depending on who is to decide - to move the position of securities on the last trading session of the week or not. Factor in reducing the working week will reduce the activity of the bidders, so the market again zavladeyut speculators, who will record the revenue position. The absence of this week the major investors in the market confirm sharply reduced, as well as the dynamics of emerging markets, in particular, the Brazilian Bovespa, which fell to the outcome of yesterday's session.

The technical picture is now unlikely to change. The indices will continue to move in the channels formed. MICEX during today's session could test the upper limit of short-channel, which is at the level of 1155 points. A powerful driver of Perforation for this level will be positive on oil and oil products in the United States. At the evening session on FORTS futures on growth RTS index was only 0.41%. Resistance for the index during the current session by the upper limit of the medium-term ascending channel in the region of 1140 points.

As a result of yesterday's session, the major U.S. indexes closed differently. In the absence of macroeconomic developments bidding took place calmly. It looked high-tech sector to share information on improving the forecast of Texas Instruments. Statement by the Ministry of Finance of the United States that it has authorized the ten largest U.S. banks to return the money received under the program to support the financial sector TARP, had no impact on the dynamics of the market.

At the Asian sites dominated by the positive mood, which is a positive signal to start the trading in the domestic market.

Shares of Russian oil and gas sector as a result of yesterday's closed session, mostly on the negative territory, but the rise in oil prices to a level of $ 70 a barrel may allow pleadings «neftyanki» to lead the list of favorites at the start of bidding. At the evening session on FORTS Prices of most contracts for the shares of oil and gas companies have not changed. Slightly better look at the contract action «Gazprom», adding to the cost of 0.74%. The closest resistance to the issuer's securities is the level of 180 rubles., With upwards of Perforation of which is to open a position in order to return to the upper boundary of the medium-term ascending channel in the region of EUR 185.7. Promotions «Rosneft» during yesterday's session, continued consolidation in the center of the medium-term ascending channel nearest resistance is at 10-day moving average in the region of 204 EUR. Shares of oil and gas industries are most attractive to today's auction, as the volatility will be high.

Shares of banks may once again move differently, as indicated, and the uncertain mood in the evening session on FORTS. The contract for shares of Sberbank gained 0.59%, the contract for shares of VTB dropped by 0.63%. In the absence of large investors, shares of financial institutions demonstrate bezydeynye bidding and technically move in a fairly narrow price corridor. External drivers for take-off quotations of securities the banks yet.

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