Saturday, March 13, 2010

The players are building up positions in futures on shares of Gazprom and Lukoil

Thursday, July 2, 2009, 10:16
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On Wednesday, active participants in the short-term market fell to 42 billion rubles. In contrast, good growth of quotations on the MICEX (4.2%) futures showed mixed trends. RTS Index fell by 0.9% to 978 points, futures on it lost 0.1% to 960 points. Spread was at -18 points, indicating the preservation of some pessimism among the players.

During the main trading session better market traded contracts for Gazprom and VTB, adding 0.6% and 3.0% respectively. Bidders aggressively built up positions in the contracts, Gazpromand Lukoil. The growth of open interest amounted to 6.7% and 9.1% respectively. Lukoil futures went in the red zone after the publication of information that OPEC increased oil production. Also, pressure on the oil companies have had quotes of falling demand for petroleum products in the United States.

The evening session did not bring significant change in the balance of power in the matter of the market. Futures on the RTS fell by 0.2%, Gazprom contracts added 0.7%.

Before the opening of trading Thursday, the main global indicators show modest declines. Nikkei225 Index losing 0.5%, futures on S P500 reduced by 0.3%, contracts for WTI losing -0.1% and traded at around $ 69.1. This creates a moderately negative background at the start of bidding.

On Thursday a meeting of the ECB rate. Analysts do not expect changes, but to treat the contents of my head of the ECB Jean-Claude Trichet at 15:45 Moscow time. Also at 16:30 go on the labor market in the United States. Bidders expected growth in unemployment from 9,4% to 9,6%.

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