Advertisement week was very volatile, and Russian stock indexes have shown reductions in its follow-up
By admin at 28 April, 2010, 3:15 pm
Throughout today"s trading session, the Russian stock market in the power of negative sentiment caused by the impressive drop in U.S. stock indexes the previous day. The situation in the commodity markets also develops a negative scenario, oil futures traded near the lows of this year - about a mark of $ 71 per barrel.
As of 18:20 Moscow time the MICEX index decreased by 3,5% on the full range of securities. A small burst of buying activity was observed after the publication of data on the labor market in the U.S., but today"s statistics radically affect the situation could not.
In general, the data can be described as mixed. The unemployment rate in the U.S. in January fell by 0.3 percentage points and amounted to 9,7%, which is much better than expected - 10,1%. However, data on the number of jobs outside the agricultural sector, the United States were worse than expected. In January, the number of jobs fell by 20 thousand, while the December data were revised downward (-150 thousand instead of the original -85 thousand). U.S. indexes reacted decline at the opening, however, the rate of decline more moderate compared to yesterday"s dynamics: DJIA and SP 500 lost about 0.5%.
Total trading week was very volatile, and Russian stock indexes have shown reductions on its results. However, from our point of view, to talk about the beginning of a full correction prematurely. The market continues to remain in a position to consolidate within a wide range of 1350-1500 pp. MICEX third consecutive week.
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