Monday, June 15, 2009

OTP Bank: Opening of tenders will be negative

Trades in the United States on Monday opened the decline of major stock indexes, which in the first few minutes lost nearly 1.4%. The main reasons were the reduction in commodity prices, which in turn exert pressure on the equities of commodity companies, as well as the bad statistics. The index of manufacturing activity in New York Empire Manufacturing, which expects the Federal Reserve Bank of New York in June fell to minus 9.41 points. At the time, analysts were expecting just to reduce the rate of minus 4.6 points. The reason for reducing a drop in sales and stock products. Net investments by non-residents in U.S. assets in April totaled $ 11.2 billion, significantly lower than analysts' expectations. Reduced investment due to reduced investments in Russia, China and Japan in the US Treasuries. At the end of the day index Dow-Jones Indust. decreased by 2.13% to 8612.13 point, the index of wide market SnP 500 - by 2.38% to a level of 923.72 points. At the present time (06:30 Moscow time) on the U.S. futures indices are close to closing levels of the previous trading session.

Markets in Latin America, as well as their North American counterparts, concluded the day in negative area: Brazilian BOVESPA decreased by 2.85%, while Mexican BOLSA - at 2.2%.

At auction in Asia has been divergent dynamics of stock indices. Japanese index NIKKEI 225 at 06:30 Moscow time is reduced by 1.95%, Korean KOSPI - on 0,61%, while Chinese CSI300 growing at 0.15%.

Trading on Russian stock market opened down gepom after futures on the commodities and U.S. indices. In the first minute of the trading the MICEX index lost 2.4%. Overstocks lasted the entire trading session. On the day of the MICEX index fell to 5.31% to 1078.10 point, the classic RTS index - on 4,44% to 1,077.17 points. The volume of trades on the MICEX amounted to 41 billion rubles. The decline in oil prices was one of the reasons sales of oil and gas sector: Rosneft -6.22% -5.97% Lukoil, Gazprom -5.27%, -4.4% Tatneft, Surgutneftegas -7.13%. The weakening of the ruble to the dollar, as well as the negative external background made the banking sector leader in the fall: -8.5% Sberbank, VTB -6.47%. Declined Metallurgical Sector: Norilsk Nickel -8.01% -7.01% NLMK, MMK -2.24%. Polyus Gold Shares, which in the past trading session looked much better than the market, also fell by 3.44% after the quotations of gold.

Oil prices mark Brent fell below the mark at $ 70 per barrel, which could lead to further sales in the oil and gas sector. The opening bid will be negative.


Trader OTP Bank Sergey Sukhikh

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