Aug
12
Trader’s daily - August 10, 2009
Filed Under Trader’s view |
Stocks
Market today. The market was slipping within the frames of correction to growth, which was indicated earlier. Another reason of the reduction was light roll-back down at the oil market. Due to that the Russian oil chips showed the most considerable drop among the blue chips.
Market tomorrow. From the technical point of view, the Russian share market has not yet completed the full cycle of correction down. Due to that the further slipping of the market is possible. The growth rates of the drop might be such as today – no more than 2%.
Bonds
Market today. Totally the market was climbing up slightly, due to the lowering of the interest rate by CB the activity at the market was higher than usually. Most of all the players were interested in purchasing municipal bonds, which added by the end of the day 0.2 to 0.5 p.p. averagely. Among the corporate bonds purchases prevailed, though notes, which have been overbought earlier, corrected down 0.1-0.3 p.p average. At the forward market purchases were in Vimpelcom-3 and the new issues of LUKOIL. The Brent type of oil price varied during the day, having added about 1% by the end of the day, though that did not affect ruble rate that was little by little loosing its positions versus dollar. At the Eurobond market the underestimated notes were being bought, such as Tatfond-10, Eurobonds of MezhPromBank, nominated in dollars.
Market tomorrow. Tomorrow the lateral trend is most possible, without clear dynamics, we expect growth of demand for municipal and federal loans.
No comment
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Magnit elaborated optional program for the management and will be buying back shares for it. (Interfax)