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.
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