Reporting PPR Group and automaker PSA Peugeot Citroen may deepen Russia's market drop at the end of the session
By admin at 21 October, 2009, 6:21 pm
Despite the decrease, sales activity is low
Russia stock market on Wednesday traded in the red zone, playing a negative closing trades in the U.S., lower oil prices and reduced investor interest for the purchase of risky assets. Against the background of the percentage decline in Europe, the MICEX index lost to dinner more than 2% because of traditionally high beta coefficient.
In general, despite the fact that a number of liquid shares lost 3.4% today, the situation does not look too bleak. Prices of Brent crude today, falling to 1.3% on expectations of evening out bear of data on oil reserves. The closest support level is at $ 75.5 per barrel. Investors that are suspended in the market in expensive paper should reassure you that the situation on the foreign exchange and money markets still fairly stable and do not see panic in the cross-flow of shielding assets. Apparently so, today, the activity is still weak sales.
The only thing that can increase the daytime decline in equity markets in the evening, it is reporting the largest companies, published today. Thus, PPR Group and French carmaker PSA Peugeot Citroen, each reported incidence of its revenue by more than 7%. Reporting US Bancorp though coincided with forecasts, but investors disappointed cautioned that the level of net write-offs will remain elevated until the end. Aircraft Building Concern Boeing reported losses in the 3 rd quarter. of $ 1.6 billion and lowered earnings forecast for 2009.
I think that in such a difficult situation better for the cautious investor will stay out of the market, but lovers tickle their nerves can be advised to continue to play from the purchase. The best way to do it in the papers of MMC, the Savings Bank and in preferred shares of Surgut. Today 18-30 are data on stocks of petroleum and petroleum products in the United States, and, finally, in the 22-00 will be published economic study of the Fed (Beige Book).
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