Outside the background of recent days was contradictory - on the one hand, the market pressured news from China (the beginning of the tightening of monetary policy), Europe (fiscal and debt crisis in Greece) and the U.S. (a sudden drop in retail sales).
Ambiguous report of the first major U.S. bank, reported last quarter, put pressure on markets, particularly in the equities of the financial sector. Although the net profit ($ 0.74 per share) significantly exceeded the consensus forecast ($ 0.61), the result was assured income from investment banking operations. In this first 1 square. 2008, the Bank has received the loss in the retail segment, as had to build up reserves to cover losses on consumer loans. Moreover, the bank”s chief executive promises to 1P10 quarterly loss on credit cards in the amount of $ 1 billion as defaults in this segment reflect the high level of unemployment in the United States. Stated on the eve of Barack Obama plan to tax the largest financial companies in the U.S. as a new tax is not added their positive actions.
Block American makrostatistiki was also mixed. Were better than expected data for the January increase in industrial activity in New York, inflation (CPI) formed below the consensus forecast, which indicates the possibility of maintaining supportive monetary policy the Fed. Data on industrial production coincided with the expectations (0.6%), although growth was achieved extraction of raw materials and power generation, with the downturn in the manufacturing sectors. But the greatest disappointment to the market brought a report on the index of consumer confidence in the University of Michigan - despite a slight increase in the previous month, it was below the consensus forecast, reflecting the deterioration in expectations of U.S. consumers over the next six months.
As a result, the U.S. indices closed lower on Friday (DJIA -0.9%, S P500 -1.1%, Nasdaq -1.2%). European indexes also finished the day in a prominent minus (FTSE -0.8%, DAX -1.9%). This occurred against a background of strengthening the dollar against the euro (FRG Chancellor Angela Merkel acknowledged that the debt problems of Greece may have a negative impact on the European currency) and the continuing slide in oil prices.
On the morning external background continued to deteriorate - trades in Asia, opened with a marked decline, oil prices continued to fall in price. At the same time in the last hours of the loss on commodity and stock exchanges were played in Asia has developed countervailing dynamics of stock index futures and the U.S. came in a small plus.
During the week of the American makrostatistiki should pay attention to the TICS (Tuesday), PPI and the beginning of a new building (Wednesday). More important for the market to become corporate quarterly reports. So, this week held accountable largest U.S. banks - Citigroup (19), BofA, Morgan Stanley, Wells Fargo (20), Goldman Sachs (21). Traditionally, their results are considered as an indicator of the depth of the crisis /recovery of the financial sector and the American economy, and clears all the world markets.
This week Russia”s indd80ices at best, be able to “heave” and keep the progress in the beginning of the year levels In the fourth quarter of 2009, retail trade turnover began to grow. Retailers are hoping that the worst is over …
Viktor Zubkov: Major work on the construction of South Stream will start autumn 2010
Kommersant: Goods recirculated
Were stretched wide network
Russia”s indexes with the support of European stock exchanges traded in a slight increase, again leading paper “telecom”
Today the market of Russia continue to dominate sales, which led to the continuation of the negative dynamics of trades
Today, the market demand for Russia to continue in some second-tier stocks
Negative factor in the market of non-ferrous metals appear significant fluctuations in the currency market and weak demand
Better the market traded securities telecoms: “North-West Telecom (2.52%), Sibirtelecom (1.96%)