The balance of power in the oil market today, designed to be a major obstacle to domestic bull
By admin at 27 January, 2010, 12:11 am
global equity markets
U.S. sites conducted in the red Friday, fixing the profit on all liquid stocks without exception, including the shares of bad-reporting Intel and JP Morgan.
leaders in reducing the cost of paper were financial companies. Thus, the SP sub-index of financial sector fell on the session at 2% - the maximum among the 10 industry groups. Apparently, investors are still mired in an uproar over last week"s hearings of the Commission of the U.S. Congress, where the heads of the largest American banks were called to account over their ongoing high-risk transactions in the market, resulting in a financial crisis.
In addition, the concern of investors is the intention of the U.S. President Barack Obama to introduce a tax on assets of 20 largest U.S. banks. This measure, on the one hand, allow the government to reimburse costs incurred by the State during the rescue banks from the crisis, but on the other hand, the tax will be burdening to the banks themselves, and worsen their financial results.
not supported by the market and released on Friday the positive statistics. Index of manufacturing activity in New York rose in January this year, up 15.92 points against the expected 12 points. Index of consumer prices unexpectedly fell in December to 0,1% in comparison to the previous month to 0.4% recorded a month earlier, yoy index was 2,7% in comparison to the projected 2.8%.
Markets Asia-Pacific region picked up momentum today with the corrective am, Open "minus" on average by 1%. Futures on America "at the beginning of the week for a little bit older.
Metal Market
For the metals market, as well as for the majority of trading platforms, the completion of last week was mostly on a minor note. All metals, except nickel, increases of 1.6% (up to $ 18600), sunk in value.
contracts for lead have fallen in price on Friday on 2,9% - to $ 2,435. Reduction in tin prices was 1.8% ($ 18,100). The market value of futures on zinc and aluminum fell by 1,3% (2470 $) and 1,2% (2306 $), respectively. The lowest recorded drawdown contracts for copper, which lessen 0,8% - to $ 7430.
At the beginning of a new week on the LME metals market dominated by optimism, all the industrial metals moderately grow.
Market Oil
In the last trading day last week, oil prices continued the downward trend. Contracts Brent crude fell 0,9% - to 77.11 dollars per barrel, WTI neftefyuchersy become less cost of 1,75% and stood at $ 78 per barrel.
As a result of 7 days, both varieties of "black gold" have lost more than 5% of the value of improved weather conditions in the U.S. and Europe, data on stocks of petroleum products in the U.S. and the strengthening of the dollar.
yesterday Qatar"s Energy Minister announced the intention of participating countries in OPEC soon as possible to maintain oil production quota at the continuing high level of volume of reserves of "black gold". On Monday morning falling oil futures continued eighth trading day in a row. Cost WTI barely $ 78 a barrel, while on Friday at the close of the domestic stock exchanges, it cost more than $ 79 per barrel.
Russia Market
Russia"s stock market were to open today in the negative territory following the example of their American and Asian counterparts, which directly affected the corrective dynamics. However, in the course of bidding situation in the Asian areas gradually improved, giving hope that Russia will be able to traders during the day to overcome pessimism and partly to return to shopping. Futures on America, "the younger moderately in the morning, also have to do so.
Unfortunately, the same can not be said about the price of oil. The balance of power in the oil market today, rather, is intended to be a major obstacle to domestic bull. If lowering the cost of hydrocarbons does not stop Russia"s stock market will have no more to follow down after the oil market.
important data and interesting statistics reporting in the United States on Monday does not go. Sale in the U.S. today, nor will they be in connection with the celebration of Martin Luther King Day.
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