Thursday, July 29, 2010

Company News

Ministry of Environment: The Public Ministry have all the necessary materials for the criminal case against “Resurrection Fertilizers”

Tuesday, April 27, 2010 16:13

Fe1000bruary 3, 2010, due to resistance from the regular staff of "Resurrection of mineral fertilizers, staff Resurrection City Prosecutor"s Office in conjunction with the involvement of federal bodies of control and supervision of environmental protection are not able to implement a comprehensive and objective review of the company for compliance with environmental legislation , said the Ministry of Environment. In the course of this audit was to conduct sampling of air emissions from the production of the company, check the technical state of the cleaning and decontamination of pollutants, the environmental performance requirements in handling hazardous waste from production activities. As a result, counter the prosecutor"s office are not provided with the constitutional rights of citizens to health and supportive environment provided by the RF Constitution and federal law "On Environmental Protection".

Alexey Kudrin: 62 RF subjects completed in 2009 with budget deficit

Wednesday, March 24, 2010 20:25

In 2009, the total deficit budgets of all subjects of the Russian Federation amounted to 330 billion, said Vice-Premier and Finance Minister Alexei Kudrin at a meeting of the Presidium of the Government on February 4. According to him, in 2008, the budget deficit was recorded for 44 subjects of RF, and in 2009 with a budget deficit already finished 62 RF subject. total support from the federal budget last year totaled 1.5 trillion rubles, compared with 2008 it was increased to 400 billion rubles. "This deficit is covered by credit support. In addition, we gave a half trillion, regions in the credit market or as a loan from the Russian Federation have received this support, which is 330 billion," - said Alexey Kudrin. In his view, the result is all driven policy is that the costs of the budgets of subjects of Russia in 2009 remained at the level of nominal spending in 2008, "that is not failed," - said the head of the Ministry of Finance.

In Russia, modernization is impossible for foreign models

Wednesday, March 24, 2010 3:17

Information Unit (part of the investment holding company "Finam") held a conference "Modernization and the state corporation: how to become effective?". Its members believe that the renewal of Russia"s economy requires not only political will but also the support from society. This modernization, by analogy with the Asian countries are unlikely to realizable, given the differences in the mentality of the population and the investment climate. Modernization of the economy requires a number of conditions, experts say. "The modernization needs a" political inquiry "(clearly a politically important goal unattainable without the upgrade) and strong power, able to undertake the necessary reforms", - says the chief economist of the Criminal Code "Rus-Capital" Alex Logvin. Expert UK "Finam Management" Dmitry Baranov agree that the political component in the modernization of present, but not a primary condition of its holding: "It (the upgrade) depends on our bureaucracy and how much she would oppose it. The authorities need to draw on its part of society, while modernization will have a chance of success. " On the other hand, for modernization requires freedom of choice and action, and belief in the protection of their rights and stability rules of the game, adds the professor, New Economic School, CEFIR economist Natalya Volchkova: "The current government because there is one, that in other circumstances - with the professional courts and t . etc. - it would long ago have not been. " One of the main conditions of economic modernization is a fundamental renewal of the technical and technological base of production, says the head. Laboratory structural problems of the economy of the Institute for Economy in Transition Olga Izryadnova: "Here we are talking about a fundamentally new technologies and industries.

News and Comments

Lottery bills - disassembly, plagiarism and money for the athletes …

After the ban on gambling, lotteries are the only legal option for Ukrainians seeking to try luck …

Thursday, April 29, 2010 1:19

After the ban on gambling in Ukraine, state lotteries are the only legal option for Ukrainians seeking to experience good fortune and unleash the gamble. It would be logical to assume that the frequenters of gaming halls and casinos, having lost last year of their favorite entertainment, queuing for lottery tickets and the revenue the state will increase by several times. But so far it has not happened - instead of the players to "lototron" began the pilgrimage"s deputies. Over the past two months in the Verkhovna Rada registered at three bills designed to regulate the activities of lottery operators in Ukraine. Legislative activity, in theory, should lead to a truly high-quality paper. After all, when there are plenty to choose from, the result should be the best. However, this time we are faced with a phenomenon which could be called an illusion of choice. It turns out, really no choice of what, well, almost as in the current presidential election. Nevertheless, it would be interesting to understand the motivation of the people"s representatives. Why do so many years, the lottery has been left to itself, and suddenly her so much interest? Maybe it into perspective ... CEO of M.S.L. " Oleg Yakimets commented on this issue in Ukrainian. "If you look at the market for our neighbors, it becomes clear that Ukraine has a huge potential growth in lottery business. If the average Greek lottery spends up to 470 euros per year, the Ukrainian average of less than 1 euro a year. Of course, the record for Greece this indicator in Europe ", - said market participant. But the minimum 90 euros per year for residents of EU countries compare to one of our euro fantastic sum. Here it is essential to remember that buying a lottery, the average European is not so much to give vent to his passion and desire for easy money, how many gave money to charity. In the end, all European countries, the main purpose of the lottery is to raise funds for various social projects and in support of sporting events. Of course, the operators themselves have a purely mercantile interests, but they are still secondary. most popular lottery reached in countries with relatively low incomes - in Latin America, South-East Asia. Where people are poor, for lotereyschikov expanse, they use a naive belief temperamental and gambling Southerners in a fairy tale with a happy ending. Ukrainians, of course, not Indians or Mexicans, but we have quite a few poor romantics who love Indian cinema and Mexican soap operas, as well as seriously expect to snatch from fate "lucky" ticket. These purely psychological conditions give lottery business in Ukraine, a very good chance to build speed, if not an order, then for sure in 2-3 times for sure. seems this factor and could become a catalyst for legislative activity of Deputies. They just "suddenly saw the light", making out the potential of lotteries. Heirs Sportloto Worldwide, there are a variety of state lotteries, the basic income from which goes to various social projects and development of sports. In Ukraine there are four operators. The largest of these is "M.S.L., also known as" Molodsportloto. " In most companies believe that it takes at least 60-70% of the lottery market in the country. The second turnover of the operator - Ukrainian National Lottery (UNL), which accounts for about 20-30%. Third - "Patriot", who is content with about 10% of the market. Fourth - "Oschadbank" True, he does not hold them now, but it is a distributor of tickets of other existing operators. 1000 Each of them has a great choice. UNL has 4 variants of the so-called numerical lotteries - Super Lotto, Keno, Lotto Troika. Patriot sells 14 kinds of instant lotteries. Market leader "M.S.L." spends the most famous Ukrainians number lotteries: Lotto Fun "," Mega Lot, apartment lottery: "Who out there", "Sportprognoz" and "Sportliga." Given that Ukraine has a moratorium on the issuance of licenses for lotteries, entry into this market of new players at the moment is actually excluded. Nevertheless, it is possible to increase the number of lotteries themselves, this option is not legally restricted. So if there is investment market participants have every opportunity for growth. price issue All Ukrainian lottery have a status of public and private traders may be only their organizers, who received a license for this activity. Such companies enjoy special tax treatment. General taxes do not concern them, they only pay VAT on the sale of lottery tickets in the amount of 12,5%, provided that all of the remaining funds, not less than 50% should be paid to players as winnings. Domestic operators are committed to constantly cry poverty, telling about the enormous costs of the lottery. However, the Russian lotereyschikov reviews, it is very profitable, although it requires a fairly intensive investment. cost of the conventional lottery is about 5% of the ticket. Suppose that in Ukraine this figure is on the same level. In addition, we have state lotteries, rather than private, as in Russia, and their dissemination through state Oschadbank Ukrpochta and less expensive. Given the 50 per cent of the prize fund and 12.5% of tax deductions, the profit of operators can be up to 30% of turnover. In 2008, the market for lotteries amounted to about 500 million UAH., In 2009 the amount increased approximately 20% and amounted to little more than 600 million UAH. These data provide by market participants. In particular, the CEO M.S.L. " Oleg Yakimets said recently that his company"s revenue for 2009 amounted to about 370 million UAH. That, in his words, is not less than 60% of all sales of lottery tickets in Ukraine. Meanwhile, one of the sponsors of the bill - MP from the BYuT faction Anton Yatsenko appreciated our market of 3-4 billion UAH. And according to head of the committee on tax and customs policy, BP Sergei Terekhin, in 2009, the lottery market in Ukraine amounted to approximately 1 billion USD. At the same time he is convinced that we do not have shady schemes to evade payment of 12,5% of the tax, all income from activities of the operators go through the state treasury. "The only option - sale of lottery tickets unaccounted for, but this is frank crime" - he added. last word still rests with the Finance Ministry, which controls the financial income. The spread of numbers goes too broad - from the modest 600 million UAH. to the fantastic 4 billion UAH. It is worth noting that the entire turnover of the gambling business in Ukraine amounted to his ban is not more than 1,5 billion U.S. Unfortunately, the state statistics did not know - Ministry of Finance to request UNIAN for three weeks and did not answer. In this case, according to sources close to the business, last year an estimate of the market amounted to around 700 million USD. He also said that the Finance Ministry did not provide operators with data on the market, operators are forced to define it on the basis of his own figures. Lotereyschiki "outside the law" As for bills, it all started with MPs from the BYuT faction Yatsenko. His bill was registered in the parliament on Dec. 8, 2009. It was called "On the introduction of state monopoly1000on the implementation of the lottery business." This was followed by the document MP from the Party of Regions Viktor Korzh "Regulation of the activities for the lotteries in Ukraine, registered BP December 15, 2009. And finally, on Jan. 11, 2010 BYuTovets Valery Quoting introduced into parliament a bill "On state regulation of lottery business. These documents are actually one and the same number - 5417, the difference between them only in the indexes, as well as similar names, which show that both have one goal - the monopolization of the state lottery. However, as noted above, the lottery in Ukraine state monopoly, private traders and are the only operators. Another thing is that the lottery business in Ukraine has its own law, and is satisfied with individual articles of the fundamental pieces of legislation already adopted in the 1990"s. S. Terekhin, although not related to the development of new legislation in this area, but it is the author of the law, which for 13 years governed the relationship in this area, commented on it so - in 1997 to write the rules of the game state and the operators asked to lotereyschiki . "In the same year a law was passed, I have also written about enterprise income tax, where the 10-th article had been written down general rules for taxation of lottery business. But in the transitional provisions of the Act, I asked the Cabinet to write for a year a separate law for lotteries ", - said S. Terekhin, stressing:" It was in 1997, and any law that today would be to regulate this sphere of activity is beneficial. Today, there are no rules for operators of lotteries, but there are only so-called licensing conditions, which were taken as the Ministry of Finance bylaw 8 years ago. " One of the three, or a game of monopoly turns out that the law of the market need for the lottery, but talking about it and the operators themselves, but with one important proviso. They oppose the bill Yatsenko, which actually offers deprive them of their licenses and to transfer this type of activity in the maintenance of state-owned enterprises, which will be created specifically. Intelligence for comment at the very Yatsenko agency UNIAN, alas, could not, apparently, he like most of his colleagues recently plunged into the campaign. According to S. Terekhin, Bill Yatsenko should not be taken seriously. "Quintessence of the bill of MP is that all financial flows from the lotteries should be monitored specifically for this purpose, a state agency, the type of the infamous Tender Chamber of Ukraine. This authority will be delegated some MPs, representatives of the ministries. We have such schemes are familiar, and we know what this means, "- recalled the MP. However he A. Yatsenko, speaking about his bill, had previously stated the opposite, noting that in order to prevent corruption, a special regulatory state bodies in the field of lotteries established should not. There will inevitably have to refer to the recent scandal, which erupted between S. Terekhin and A. Yatsenko, despite their affiliation to one political force. Both MPs have already expressed their views about the essence of the conflict in the media. In short, it boils down to what Yatsenko accuses Terekhina mediated in the possession of a Ukrainian operator of lotteries - UNL and tax evasion. In turn, S. Terekhin totally denies everything. It is convinced that all the accusations against him - just revenge for their unwillingness to support a bill on BP PPL proposed Yatsenko. In principle, everybody can get acquainted with the nuances of this conflict on the Internet, we also delve into them will not. But that really can not be ignored, since this conclusion is the Chief Scientific Expert Department (GNEU) BP on the bill Yatsenko.1000First, the experts note too wide a range of issues that affect the document. "Due to the fact that the introduction of state monopoly on lotteries is only one of the bill, certain elements of public policy concerning the organization and conducting lotteries, we propose to change its name to" On state regulation of the issue and conducting lotteries. "By the way, next in the chronology Bill lotteries, MP Korzh, almost so called "On the Regulation of Activities on lotteries in Ukraine, apparently, a deputy from PR acquainted with conclusions GNEU. Although in the correct expression, but experts GNEU smashed bill Yatsenko to smithereens. In particular, they noted the lack of conformity of the proposed rules in the bill to the current legislation of Ukraine. Thus, according to experts, the proposed introduction of state monopoly on the lottery contrary to law "On Entrepreneurship". In GNEU convinced that if they pass a lottery business exclusively in the management of state enterprises, then this should be done by amending the law "On Entrepreneurship". One of the main themes of the bill Yatsenko is to protect consumers from unscrupulous operators of lotteries, which in his view, the Ukrainians do not even get the winnings. This MP proposes to introduce appropriate changes to the Commercial Code and Law on Protection of Consumer Rights. At that experts reasonably indicate that such an approach is contrary to commonly accepted rules of technology legislation, as proposed changes are not directly related to the lottery business. In other words, the bill Yatsenko demonstrates a desire to delegate to one document "shove nevpihuemoe. Moreover, trying to cover the items in its bill a number of neighboring legislation, Yatsenko nevertheless "forgets" about one of the most important issues actually lottery activities. His bill provides for licensing of lotteries, by default, offering to transfer him to a certain state-owned enterprise. Thus A Yatsenko actually offers a "scam" working in Ukraine today lottery operators. Lotereyschiki Good or bad - is a separate issue, but today they are working in accordance with existing laws and investing heavily in the development of their business. As you can guess, GNEU BP openly encouraged to send "raw" Bill Yatsenko for revision. Having noted the comments of the experts, 15 December 2009 MP registered in the Verkhovna Rada another bill to amend the law on the moratorium on the licensing of economic activity is producing and conducting lotteries. This paper proposes to abolish the licensing of lotteries businesses independent ownership. December 18 last year at BP Yatsenko registered draft resolution approving the objectives of state economic development program of state lotteries and their social orientation. All this testifies to a persistent intention to suspend the MPs from holding gosloterey private operators. And last, unlike S. Terekhina refer to the bill even Yatsenko very seriously. "Copyright" - is not for MPs At the same time, S. Terekhin praised the bills still one of his colleagues from the BYuT Valery Far and regionalization Viktor Korzh. "Draft B. Extreme looks like a bill deputy Korzh. The bill MPs from PR is proposed to increase contributions to the State lottery operators to 25%.

Many market participants long awaited correction and embraced the movement of world indices as a sell signal

Wednesday, April 28, 2010 15:15

The beginning of the week was marked by increasing expectations that the negative trends of the last week ended, and markets have again begun to rise. But th1000e second half of the week was marked by the fall of world stock indices. The formal reason was compiled by the U.S. labor market, which showed growth in the number of initial applications for unemployment benefits and reduce the number of jobs in the U.S.. Also exacerbated the controversy over problems with public finances of Greece, Spain and Portugal. We believe that these news are just a formal occasion. Many market participants long awaited correction and embraced the movement of world indices as a sell signal. The MICEX index dropped for the week, closing on Friday at 1355.6 points, closing below the previous Friday to 4.5%. This is the strongest weekly fall since the end of October. ruble following week even slightly strengthened: currency basket was closed on Friday at 35.44 rubles, compared with the closing at 35.67 rubles to the previous Friday. Within weeks we have seen high volatility of the ruble: quote currency basket ranged from 35.14 to 35.77 rubles. We believe that the outcome of next week, world stock index fell. At the beginning of the week can be a small rebound, but the following week will prevail negative trends. For the first few months have begun to withdraw from funds focused on investments in emerging markets: the markets are losing "fuel" that could lead markets up. Secondly, broken upward trend, so we do not expect a rapid resumption of growth. Log in and enjoy the material;; 2; user rated material 2. Analyst Ratings

Reviews and ideas

Technical analysis for gold index fund SPDR Gold Trust

Friday, March 19, 2010 12:25

  Our assumptions about price movements of the index fund for gold Gold Trust (NYSE: GLD), is under the control of the company SPDR, presented in the preceding analysis, justified. Prices fell as tools (Fig. 1), and only then followed by growth, which at the weekly chart is the directional indicators of change and slow stochastics (Fig. 2). However, the MACD line did not have time to cross its signal and began to decrease, indicating a further decline in the index fund (Fig. 2). At the moment exponential moving average with a period of 8 is above the slower moving average with a period of 21 (Fig. 1), while both indicators are aimed at rapprochement. Bollinger Bands on the weekly chart also rushed toward each other. Thus, both indicators point to a possible weakening of the uptrend. In the case of moving average with a period of 8 faster moving average with a period of 21 top down, will be served a sell signal. Fig. 1 Weekly dynamics of the SPDR Gold Trust Source: Reuters Relative Strength Index RSI on the weekly schedule tried to decline, but in late January, he was able to turn around and at the moment the indicator is looking up. Line of the MACD indicator at the beginning of January this year has crossed its signal from the top down, pointing to the sale (Figure 2), and continues to fall. Slow Stochastics on the weekly chart crossed and headed into the zone "oversold", as indicators of directional changes in DM and-DM is currently converging, with the line ADX, growing up to January this year, has already changed direction and now looks down. Fig. 2 Indicators RSI, MACD, slow stochastics, DM and-DM, ADX (weekly dynamics) Source: Reuters thus considered indicators on the weekly chart indicates continued downward movement of prices of the index fund for gold Gold Trust, administered by the company SPDR. If prices could break through the middle line, Bollinger Bands, they most likely will rush to the bottom of the indicator, otherwise they will continue to move between the middle and upper lines, Bollinger Bands and reach of the preceding analysis of the target $ 117-120. In the latter case, open positions for the purchase should be based on the following signals: discrepancies lines DM and-DM, as well as the growth of ADX, MACD indicator crossing its signal line upwards, crossing the slow stochastically in or near a zone of "oversold", as well as movements relative strength index RSI up.

Latin America: Bovespa was the foremost thanks to news from Cosan

Wednesday, March 17, 2010 23:15

  Monday, February 1, the stock markets in Latin America with a few exceptions, have shown positive dynamics. Closing of the American indexes in "green" zone on the background of increasing business activity in the sphere of the U.S. supported the optimistic mood of market participants. Brazilian index of Bovespa, in turn, the stronger the maximum value for the last month, after news emerged that the company Cosan plans to merge its Brazilian assets to the British Royal Dutch Shell. As a result of trading a key index of Brazil Bovespa rose 1.79% to a level of 66,571.74 points, the Argentine Merval was harder to 0,66%, and Chilean Ipsa rose by 0,62%. Bidding in Mexico did not pass and the markets of Venezuela and Colombia did not support the general upward momentum. Brazilian real appreciated by 2.5%, which was the maximum increase from 29 October last year, and closed on a mark to 1.8482 per U.S. dollar. Representatives of Goldman Sachs Group announced that they intend to buy the Brazilian national currency. Quotes Cosan SA Industria Comercio, the world"s largest processor of sugar and ethanol soared by 11%. Representatives of Cosan and the leading European oil company Royal Dutch Shell reported on the signing of an agreement regarding the consolidation of assets in Brazil. Under the deal, Shell committed to invest $ 1.93 billion in the joint venture and transfer assets, including 2 740 repair bases. Latin America"s largest bank Banco do Brasil reported that net income for the three months ending Dec. 31 could be at 1.6 billion reais ($ 844 million) higher than previously calculated rate due to the translation of monetary assets, issued by the pension scheme for employees. As a result, shares of Banco do Brasil "recovered" at 6,8%. Paper in Latin America, a leading operator of railways ALL America Latina Logistica moved by 4,3% against the expected increase in traffic. The third-largest steel worker in Brazil Cia. SiderurgicaNacional earned a bid to 1,3% of market capitalization after it reported that he intends to issue promissory notes totaling $ 10 billion reais. Quotes of the oil company OGX Petroleo Gas Participacoes, owned by billionaire Mr Eike Batista, rose by 3%. It is expected that the volume of recoverable reserves of "black gold" on deposit OGX-4, located in a tectonic block BM-C-42, range from 100 million to 200 million barrels. Values of the basic indexes on closing are resulted in the table: Index Country Closing Change (items) Change (%) value at beginning of year (the last closing in 2009) Change YTD MerVal Argentina 2,313.81 15.26 0.66% 2320.73 -0.30% Bovespa Brazil 66,571.74 1,169.97 1.79% 68588.4 -2.94% IBC Venezuela 59,258.98 -47.37 -0.08% 55075.7 7.60% IGBC Colombia 11,510.00 -41.45 -0.36% 11602.1 -0.79% Bolsa Mexico 30,391.61 -419.74 -1.36% 32120.5 -5.38% IGBVL Peru 14,512.75 72.7 0.50% 14167.2 2.44% IGPA &ame13p;lt;td> Chile 17,689.44 94.8 0.54% 16630.9 6.36% IPSA Chile 3,832.55 23.59 0.62% 3581.42 7.01%

U.S.: Business activity in the industrial sphere has intensified bulls

Wednesday, March 17, 2010 20:25

  Monday, February 1, the U.S. stock market finished the session in a significant plus. The first trading day of the month is traditionally a day of output data on business activity in the sphere of production around the world - The January figures have increased and surpassed expectations in the United States and Europe. This rate of expansion in U.S. industrial production rose the strongest way more than 5 years, according to the January business activity. From the corporate sphere - the quarterly reporting Exxon Mobil surpassed expectations and supported the growth of the main indexes. Following the session, the indicator of blue chips Dow Jones Industrial Average rose by 118.20 points or 1.17% to a level of 10,185.53 points, the index is a broad market Standard Poor "s 500 rose 15.31 points, or 1.43% to a mark 1,089.18 points and the index of high-technology Nasdaq Composite has left in plus on 23,85 points or 1,11% to reach 2,171.20 points mark. On the commodity market, the March crude oil futures for light on the results of the auctions on NYMEX prices increased by 2,1% to a level of $ 74.43 per barrel. Gold for February delivery added a 2% to a level of $ 1,104.30 per troy ounce.

Scenario and forecasts

Forex - on the European session

Wednesday, April 28, 2010 12:13

Index of the Frankfurt Stock Exchange Ksetra DAX (Xetra DAX) fell 70.18 points (-1.27%) and at the level of 5463.06. Index of the London Stock Exchange Foots 100 (FTSE 100) fell by 87.96 points (-1.71%) and at the level of 5051.35. The March futures on the index S & P 500 (SP 500) on Globex (Globex) dropped to 7.2 points and is 1054.5. Opening of the American stock indexes are now expected to bottom. euro /dollar continued its decline in the European session and reached a level of 1.3648, a minimum of 20 May 2009. Pressure on the euro against the dollar continues to provide negative background associated with the problem of budget deficits in some countries of the eurozone. There is a reluctance of investors to risk, there is a drop in stock indices, the depreciation of New Zealand, Australian dollar, the rate of precious metals. rate of gold fell today to the level of 1049.10, the lowest since November 2 last year. Falling rates of many tools of the activation of a large number of stop orders for sale below key support levels. Despite weak economic data in Germany, the euro /dollar with minor adjustments. In the forex market, there is the closure of long positions on dollar before the publication of important data in the U.S.. Industrial Production Index (Industrial production) in Germany in December -2.6% per month (projected 0.5% per month, the previous value of 0.7% per month). The index above is much worse than expected level. Unemployment (Unemployment rate) in Canada in January of 8.3% (forecast 8.5%, the previous value of 8.5%). The index above is much better prognosis. After the publication of the data rate of the dollar /Canadian dollar plummeted to the level of 1.0716. Tonight Swiss National Bank has a currency intervention to buy euros for francs. As a consequence, the euro /franc soared to 1.41000805 level.

Forex - Asia

Wednesday, March 24, 2010 0:19

index of the Tokyo Stock Exchange Nikkei (Nikkei) fell 48.35 points (-0.46%) and closed at 10355.98. Yield of 10-year Japanese government bonds is 1.375 (increased from the previous closing on 0.020). Index of the Hong Kong Stock Exchange Haeng Seng (Hang Seng) fell 346.16 points (-1.67%) and is located at 20375.92. The euro /dollar continued its decline in the Asian session and reached a level of 1.3839, a minimum of 8 July 2009. Pressure on the euro against the dollar has reduced rates in New Zealand, Australian dollar, the rate of precious metals. New Zealand dollar fell today to the level of 0.6936, its lowest since 10 September. Australian dollar fell to 0.8775 marks, a minimum of 23 December. negative impact on these instruments provide data that show an increase in unemployment in New Zealand to its highest level in ten years, as well as the decline in retail sales in Australia. These data reduce the likelihood of rate increases in these countries. supported the dollar, in turn, provide the latest economic data in the United States and falling oil prices. Today, investor attention will be directed to the results of meetings of the Bank of England and the ECB, as well as the publication of data in Germany and the United States. Today is scheduled for release the following data: at 09:00 GMT - the price index for real estate companies Halifax (Halifax house price index) in the UK in January (the forecast of 0.7% per month, 3.5% for the year, the previous value of 1.0% per month, 1.1% per year); at 11:00 GMT - index of industrial orders (Manufacturing orders) in Germany in December (forecast 0.6% for the month, the previous value of 2.8 for the month, -1.3% per year); at 12:00 GMT - results of the meeting of the Committee on Monetary Policy Bank of England; at 12:45 GMT - results of the meeting of the Governing Council of the European Central Bank on changes in interest rates in Europe (16); at 13:30 GMT - press conference after the meeting of the Governing Board of the ECB; at 13:30 GMT - the number of applications for unemployment benefits (Jobless claims) in the United States for the week to 30.01 (forecast 456K, the previous value of 470K); at 13:30 GMT - preliminary value of the index of labor productivity (Productivity) in the U.S.