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Archive for June 26th, 2009

Forex Asia

Friday, June 26, 2009 23:06

index of the Tokyo Stock Exchange Nikkei (Nikkei) has grown by 205.76 points (2.15%) and closed at 9796.08. Yield 10-year Japanese government bond is 1.380 (no change compared to the previous closure). Index of the Hong Kong Stock Exchange Heng Seng (Hang Seng) has grown by 374.38 points (2.09%) and is located at 18266.53. Course dollar /yen has grown on the Asian session, with a level of 95.59 to 96.46. Exchange Euro /yen has risen by 140 points up to 134.79. Pound /yen rose from 157.07 to 158.50 marks. The weakening yen contributed to the growth rate the main Nikkei stock index of Japan, the growth of quotations on the stock market increases the interest of investors in risky positions. growth of cross-rate euro /yen exchange rate supports the euro /dollar, which rose to 1.3925 marks from 1.3980. The attention of investors focused on the publication of the final value of the index of GDP in the United States for the first quarter. Today expected output the following data: at 07:30 GMT - the index of business optimism (Business confidence) in Italy for the month of June (69.5 forecast, the previous value of 68.7); at 09:00 GMT - the index of industrial orders (Industrial orders) in Europe (16) April (forecast 0.0% for the month, -33.9% for the year, the previous value of -0.8% for the month, -26.9% per year) ; at 12:30 GMT - the number of applications for unemployment benefits (Jobless claims) in the United States during the week to 20.06 (forecast 615K, the previous value of 608K); at 12:30 GMT - final index value of gross domestic product (GDP) in the United States for the first quarter (-5.7% forecast for the year, the previous value of -5.7% per year); at 20:30 GMT - the index of money supply M2 in billions of dollars in the United States during the week to 15.06 (the previous value of 4.4); at 23:30 GMT - the consumer price index (CPI) in Japan in May (previous value of 0.1% for the month, -0.1% per year); at 23:30 GMT - the consumer price index (CPI) in Tokyo in Japan for the month of June (previous -0.2% for the month, -0.8% for the year).

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Depositaries depreciate

Friday, June 26, 2009 22:06

Safe deposit boxes, which present a deficit in the fourth quarter of 2008 and the first months of this year, the summer is gradually losing its former popularity. If even a few months ago, they were filled to 100%, it is now - at 85-90%. The projected finasistov, by the end of summer, despite the holiday season, occupancy depository bank may drop to 75-80%. a new trend they attribute stihaniem people panic, which only recently removed from their savings accounts and transfer them into individual boxes. Now Ukrainians returned to the accumulation of deposits, and bankers, losing tenants of cells, are planning to reduce prices on safes. first signs of lower demand for bank safes emerged in late May. The growth of interest in the deposit boxes began late last year and lasted until March. For at least partially meet the demand, we had to install new cabinets, where the rules allow for security, - told the D Deputy Chairman of the Bank Khreschatyk Irina Skirchuk . We have increased the demand for safes seen until early May. For example, in Kiev and Donetsk, there were no free cells. Explanation of this one - the fear of citizens to keep money at home. However, in the second half of May, people started to shift their savings from the cells to deposit accounts, and demand for boxes has been declining, - has added its head of retail business FUIB Valery Patsuy. According to the NBU, in January-April, ordinary Ukrainians have taken away from the accounts of 23.03 billion UAH. by reducing the volume of deposits in the banking system to 192.53 billion UAH. In May, they have increased them to the 1.31 billion UAH. (up to 193.84 billion UAH).. According to the financiers, now in their offices, there is rarely 100% loss of depository occupancy, most of them are occupied by only 85-90%. During the crisis changed the preferences of our compatriots. Whereas previously the greatest demand for the small cell (of height 5 and 7.5 cm and width 30 cm), which often kept the documents today - large. Active all Safe large (195h310h490 mm 145h310h 490 mm), - confirmed the head of the VIP-bank bank Contract Natalia Davidenko. Our most popular medium, and large cell - height of 20-40 cm, - noted the Deputy Chairman of the JSC Erste Bank Svetlana Cherkay. Little has changed the portrait of a typical user's safety deposit box. Lessee cells can be divided into two groups. First, the most numerous - are clients of the Bank which, in addition to basic services finuchrezhdeniya enjoy and cells. The second group of tenants - the people, which the banking institution is convenient in terms of location (close to home run), - told the Head of Retail Business Development Bank of BM Inna Matveyeva.

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Nadra Bank gets rid of debts

Friday, June 26, 2009 21:06

Nadra Bank intends to announce the second phase of restructuring its foreign debt - investors offered to sell their existing eurobonds Bank for 15% of the nominal value. However, the money to redeem all the bonds, brought to maturity, the bank does not, so its recapitalization can not take place. Nadra Bank continues to attempt to restructure its debt and obtain financial assistance from the state. In the 2009-2010 biennium. disbursements of external bank debt of approximately $ 583 million, and two weeks prior to the expiration of the moratorium on satisfaction of creditors' claims consultants Bank - Rotschild and yurfirma Salans - made another attempt to restructure $ 175 million Investors memorandum was sent out, offering two options. first option offers the bond holders receive 15% of the value of their securities. However, if the repayment would be all paper issuance ($ 175 million), the bank will need at least $ 26.25 million for the whole procedure, however, allocated only $ 20 million In addition, there is a risk of failure to comply with the conditions of equal treatment of all creditors, which shall be provided in any process of restructuring the public debt, which could reduce the amount received by the holders. The second option - 60% cancellation of debt and payment of the balance in 2015 at a rate of 9.25% per annum. However, experts doubt that the State would be able to return the bank to life by this time. First, in the same memorandum stated that the Cabinet intends to recapitalize Nadra Bank after restructuring its external debt.

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United States: SP 500 and Dow Jones,on the basis of the session broke up in the dynamics of

Friday, June 26, 2009 20:06

Tuesday, 23 June, the U.S. stock markets showed mixed trends. Rising prices for oil and metals caused a rise in commodity producers, while at the same time, Boeing shares slump has led to the closure of Dow index in the negative zone. Trezheriz added to the background of the successful deployment of the Government of $ 40 billion 2-year commitment. At the end of the trading index of Standard Poor's 500 added 0.23% to a level of 895.1 points, the indicator blue chip Dow Jones Industrial Average, whose composition has undergone some changes, decreased by 0.19% up to 8322.91 points, while the index of high-tech sector in the Nasdaq Composite went negative at 0.07% to a level of 1764.92 points. Among added during the session noted vtornichnoy bank Goldman Sachs Group, whose shares went up by 3.1% after analysts FBR Capital Markets upgraded the forecast for the price of its shares. The largest bank by total assets Bank of America has left in plus on 2,4%. The financial sector is composed of SP 500 Index advanced at 1.7% after a collapse at 6.2% on the previous day. In the commodity sector distinguished the fourth largest producer of steel sales of AK Steel Holding - shares jumped to 7.2% due to higher prices for Commodities and the comments of the representative of the company that the financial results for the second quarter improved compared with the first due to reduction of costs.

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Bank of Russia has withdrawn licenses for banking operations at the international merchant bank and the bank's Industrial

Friday, June 26, 2009 19:07

Order of the Bank of Russia of 24.06.2009 № ML-486 was revoked license for banking operations at the credit company Commercial Bank International Commercial Bank (OOO KB IT-Bank, Moscow). The license to conduct banking business has been withdrawn due to non-CB IT Bank of federal laws regulating banking activities, and regulations, the Bank of Russia, establishing the facts essential unreliability of the accounting data, capital adequacy below the 2 percent decline in the size of their own funds (capital) is below the minimum value set by the Bank of Russia on the date of state registration of credit organizations, as well as the repeated within one year of application of the measures provided for by federal law On the Central Bank of the Russian Federation (Bank of Russia). In connection with the credit policy vysokoriskovannoy CB IT Bank completely lost their own funds (capital). At the same credit institution does not comply with the mandatory standards, and provide the Bank of Russia has false reporting, concealing the reasons for the implementation of measures for the prevention of insolvency (bankruptcy). In addition, the order of the Bank of Russia of 24.06.2009 № ML-488 was revoked license for banking operations at the credit company Commercial Bank Industrial (RECs Bank Ltd., Moscow).

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Bears will try to counterattack, but their attempt is unlikely to be success

Friday, June 26, 2009 18:08

Again the rally started? Russia The Russian stock market index significantly improved after one-week drop: the RTS index rose by 2,83%, MICEX index soared to 7.37%. The volume of trades on the RTS stock exchange amounted to $ 2.7 billion, of which $ 1.6 billion was accounted for by the term market instruments, the MICEX Stock Exchange Section natorgovala at 269.9 billion rubles., Turnover in the index amounted to 82.8 billion rubles. ongoing one-man show in the face of the Savings Bank: Ordinary shares rose yesterday to 15% premium - about 20%. Some are trying to find the extreme volatility of this paper some fundamental reasons, but I think this was a futile exercise: the market has found a new favorite toy, and will use it in full. The immediate technical goal, where correction can begin, the range of 44-45 rubles vision, consensus-forecast target price of 44.55 rubles (according to the SPARK-Interfax). Europe Old World Index grew by an average of 2.4% after a rather optimistic macroeconomic statistics and the revision of the OECD economists forecasts for an upward. Further support for the market have had a corporate news and industry analysts' recommendations of leading banks. America indexes finished the day of the New World with multidirectional spread of -0.3% to 1.6% - mostly grew up sector of high technologies for the good reporting Oracle. FOMC left interest rates unchanged, investors somewhat troubled controversial assessment of the economy by members of the Office and completely unclear prospects for its future activities. raw materials, currency, etc. Industrial metals at auction in London rose slightly, gold rose to $ 940, but the gain at this level, he did not get in the outcome of the quotations are in the region of $ 930. Rather, we have a lagged response to movements in the American currency: I seem to be drawn triangle stayed down, but the quotes did not go deeper, and now back to former support is already lower. The price of oil has continued the momentum up, yesterday, this has contributed to a decline in U.S. stocks: Futures on the mark Brent traded slightly above $ 68.5, to mark WTI futures were slightly higher than $ 68.75. Statistics and Reporting At 16-30 (Moscow time) published final data on U.S. GDP report and the applications for unemployment benefits, in 18-00 (Moscow time) Ben Bernanke will address a report on the absorption of Merrill Lynch by Bank of America. It is also expected that today would be signed between the EU and Turkey on the construction of gas pipeline Nabucco (hope has finally become clear to be a draft or not to be). In Russia one day in a large number of annual general meetings of shareholders - is just the peak season for such events. Outlook I look forward to the start of the trading on the Russian stock market with a small gap in the top 0.5%, I think, felt that his force bulls will try to take away our market even higher. Bears, of course, will try to counterattack, especially as the growth they have an opportunity to properly otshortitsya (in the sense that no restrictions), but I do not think that their attempts will be successful. Ultimately decide on the foreign stock and commodity platforms. Authorize and appreciate the story;; 3 users rated material at 3. Analyst Ratings

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The forecasts of analysts: In the first half of session, shares of the banking sector will again be in demand

Friday, June 26, 2009 17:10

24.06.09 10:11 ;   Trading on the Russian market on Tuesday took place against a background of weakening of the ruble and low price levels for oil, which prevented the sustained increase in prices. Despite a «rebound» at the end of trading session, Russian indices still showed negative results. Among outsiders noted the paper «Transneft» and «Gazprom petroleum», lost 7.7% and 7.3% respectively. In general, the market look better than the paper the financial sector. High volumes of shares yesterday fell to «Sberbank». Of the leaders of decline in the second half of the day the paper had become a leader of growth and gaining 3.5%. Shares VTB also keep pace and increased by 2.7%. Following Tuesday RTS dollar index fell by 2.9% to 932.74 value item. The drop in the MICEX Index reached 2.2% and totaled 917.3 points. Trading volume on MICEX increased to $ 8 625.44 million This morning course a pair of euro /dollar at Forex stands at 1.40. The experts believe that in the event of further weakening the dollar pair will test the resistance level at 1.41. Oil prices again in the «red». The August futures on oil brand Brent traded at around $ 68 a barrel, Light - $ 68,35 per barrel. «There are strong movements in oil, as recently it strongly prosela, today published a report on its holdings in the United States and is expected to decline. These factors may cause a rise in prices at the «black gold», which will hold shares in the Russian placed without special changes », - predicts Paul Head (IFK« Evrogrin »). External background before the opening of Russia's trading environment is positive. The American stock market yesterday showed a mixed performance. Rising prices for oil and metals caused a rise in commodity producers, while at the same time, Boeing shares slump has led to the closure of Dow Jones index in the negative zone.

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Perhaps the long-awaited correction of the second wave came in the trade area

Friday, June 26, 2009 16:09

Moods bidders remain the same Today, at the opening of the domestic sites ambient background was not clear sentiment. The last day of the trading results of overseas concluded: Dow Jones industrial average -0,19%, SP 500 0,31%, Nasdaq Composite 1,09%. On the one hand on Davila quotes desheveyuschaya oil, on the other - to support optimistic forecasts of the IMF. Asia ottorgovalas mostly with positive results: NIKKEI 0,41%, KOSPI 1,18%, Hang Seng 0,77%, CSI200 -0,45%. The catalyst was the statement of Prime Minister of China early in the country's economic recovery and to maintain a soft credit policy by the authorities. Opening at the Russian sites have passed with little gepom down and, despite the presence in world markets for certain instruments ascending motion, we have actively discounted excess weight. At the moment the market is worse than the banking sector, shares of Sberbank and VTB cheaper for more than six per cent, probably sooner he attributed the speedy recovery of the global financial fever. Oil and gas industry is similar to a lead, only to lower casualties - an average of share prices here have gone negative at 3-4%. three elephants, which are based on the Russian trading platforms: the European indices, futures on U.S. indices and prices of black gold does not promise us optimistic mood. The first went to almost minus two percent, the second - the percentage, as world oil prices are near the point of 68 dollars per barrel. It is possible that long-awaited second wave came in the trade area. We both grew increasingly international friends and, consequently, will be adjusted also active. In addition, improvements in real sector of the economy, wait until you have to, so the chance to earn at the opening of short positions in Futures or buy put-options is substantial. Authorize and appreciate the story;; 5 users rated material 4. Analyst Ratings

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On Monday, the Russian stock market continued to decline, to resume purchases require serious positive

Friday, June 26, 2009 15:12

22.06.09 20:22 ;   The Russian stock market began the week of gepa down, affecting the entire spectrum of the shares. From the very morning of the MICEX and RTS indexes fell below 1000 points, the latest sales efforts: to 12.40 Moscow time RTS index lost 1.88% and stood at 992.35 item code MICEX - 991.75 points (-2.51%). As the pace of the fall of leaders today were shares of the banking sector: VTB (-9,69%), «Bank» (-12,92%). «Sales in this sector mainly reflects the global investor sentiment», - noted Ivan Fomenko, Deputy Head of fiduciary Absolut Bank. Against the backdrop of falling oil prices below $ 70 a barrel showed negative dynamics of papers of oil and gas sector. The greatest losses equities «Rosneft» (- 8,5%) and «Lukoil» (-6,94%). best market in the early trading session, shares look metallurgists, in particular, the paper NLMK, but on the day they are on equal terms with all the things of the «negative». relative stability today showed «Aeroflot» (-1,7%), «Magnet» (-0,5%) and «Polimetall» (0,08%). At the end of the day RTS index lost 4.98% to 961.04 points. MICEX Index has completed trades in «red» at 7.75% to 938.48 points. «It is clear that the mood of the market is dominated by pessimistic mood, hence the desire to record a profit. It is very likely that in the short term, sales will prevail, the market will gradually decline. To ensure that the players came back to purchase requires a very large positive, but so far not been forthcoming. If surprises are possible, they should expect from the U.S. Federal Reserve meeting to be held this week »- believes Ivan Fomenko, Deputy Head of fiduciary Absolut Bank. «Opening tomorrow bidding seems uncertain. Technically, the indexes are consolidated at major support levels, so at a neutral external background discovery could be positive. The dynamics of the market will be largely determined by the movement of futures on indices the U.S., but in general I expect tomorrow to see consolidation at current levels in anticipation of the Fed decision the United States.

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The market expects the Fed signals on the level of rates before the end of the year

Friday, June 26, 2009 14:11

financial market participants expect that this week the leaders of the Federal Reserve System (Fed) is likely to give a signal about the unwillingness of the Central Bank to raise the base rate in the coming months. raise expectations before the end of 2009 the base rate overnight, is now all 0-0,25%, fell on Friday, according to futures quotes, up to 47% from 60% a week earlier. In the previous week, these expectations, however, grew. predicted, the Fed-up scheduled for Tuesday-Wednesday meeting is unlikely to be solved to increase the volume of purchase US Treasuries and mortgage securities, given the slight improvement in the situation in the U.S. economy and the credit market, writes The Wall Street Journal. Thus, the Central Bank is projected to remain at this week's current monetary policy without any changes. President of the Federal Reserve Bank of Kansas Thomas Hoenig said on Friday that the American Central Bank is developing plans for cuts in an unprecedented amount of financial incentives introduced during the crisis to avoid accelerating inflation in the context of renewed economic growth in the United States.

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