China has increased the role of the yuan in the international monetary system

July 2nd, 2009

Central Bank of China has allowed companies to use yuan in foreign trade transactions. This was reported in a statement published on the website of the regulator. So the bankers are trying to reduce the dependence of national importers and exporters from the dollar.

Companies from China and neighboring countries face a relatively high risk of fluctuations in exchange rates due to fluctuations in the dollar, euro and other major currencies, - the report says.

Under the new scheme, transactions using the yuan allowed companies to Shanghai, and 4 cities in the southern province of Guangdon, the power to make such transactions, and companies from other countries, operating through Hong Kong and Macau.

This is the first step of China to make the yuan global, - said Shi Lei, analyst of Bank of China Ltd. According to experts, it will protect exporters from exchange fluctuations and increase the role of the yuan in the international monetary system.

Recall earlier Guanpin Zhang, an official of the Shanghai Branch of China Banking Regulatory Commission, said that the yuan can achieve the status of world reserve currency by 2020. According to officials, this year the proportion of the yuan in the world currency reserves may exceed 3%.

He Yafei, Chinese Deputy Foreign Minister, denied the information that representatives of the Chinese delegation at the July summit of the leaders of the Group of Eight plan to once again raise the question of waiver of the dollar as the world's main reserve currency. Read the rest of this entry »

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Increased negative trends in foreign markets can provide adequate pressure on the dynamics of the Russian market

July 2nd, 2009

Domestic

At the debt market on Thursday witnessed a multidirectional movement of prices. Increased negative trends in foreign markets can provide adequate pressure on the dynamics of the Russian market in the next trading day.

At mid-day trading on Thursday with the largest turnover grew StrTrGaz-2 (5.45% of the closing price on Wednesday), Moskva54 (0,48%), GazpromA4 (0,22%), PrTehLiz-1 (0 , 22%), Nomos-9 (0,2%), Moskva58 (0,16%), MosObl5 (0,08%), UralsibLK-2 (0.07%). Decreased quotes the following Paper - Zenit-5 (-0.04%), SLT-1 (-0.05%), promsvb-5 (-0.06%), Moskva61 (-0.08%), Moskva62 (– 0,12%), MTS-4 (-0.16%) Tyumenenergo2 (-0.18%) URSA-7 (-0.42%) Msokva44 (-1.03%)

Liquidity continues to rise - the amount of funds on deposits and correspondent on the morning of Thursday rose to 90.6 billion rubles. and amounted to 1.069 trillion. rub. The rates of O /N were about 6.5% per annum, 3-month rate at 12% per annum. Russian ruble in the foreign exchange market was moving into the mainstream of the Forex market and oil prices. At the end of the second half of the trading day on Thursday, the dollar rose 0.5% to 31.169 rubles., The euro depreciated by 0.11% to 43.812 rubles. As a result - a course bivalyutnoy baskets to ruble grew at 0.1%, and amounted to EUR 36.845.

Market US Treasuries and eurobond

In the Independence Day in the United States, market participants are preparing for a long weekend. Scheduled for Thursday, a large amount of statdannyh hardly anyone обрадовал. Despite the fact that the number of initial applications for unemployment benefits and the overall level of almost coincided with the projections, the reduction of employment and weak growth in hourly wages shows the complexity of the situation on the labor market. Treasury bond market reacted growth of quotations - yield curve fell to 4-6 bp at the time, but in comparison with the closing of the environment Review returns was not as large - UST-2 - 1.005% per annum (-4b.p.), UST-10 - 3.504% per annum (-4b.p.), UST-30 — 4.317% per annum (-1b.p.).

In the segment of Russian Eurobonds for understandable reasons, the reduction of quotations - Rus-30 cheaper at 0.36% to 98.8% of the nominal yield issuance is 7.71% per annum (4b.p.). Spread between the Rus-30 - UST-10 rose by 8 bp up to 421 bp

In Bond Market You can find information on issues of corporate andmunicipal bonds, as well as learn about the planned deployment, the outcome of trades on the MICEX and read the comments on the bond market.

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Despite the slight decline in Russian stocks, large and panic selling is not

July 2nd, 2009

Summer Session

Thursday on fixed platforms Russia trade is mainly with the decrease. Futures on both the RTS and MICEX index traded at a discount to the underlying asset. At RTS bekvordatsiya (the difference between the price index and futures) greater than on the MICEX. So, at 15.45 PM IST MICEX index losing 2.03% at 991.92 on, RTS index decreases on 0,48% and the test mark in section 973.21 of the urgent section RTS FORTS the September futures traded on the RTS index at 95 p. 300, the emergency contract for the site MICEX MICEX ruble index of execution in September, quoted by 98 Day Clause 710 is not very active, the volume of small trades, many traders had already gathered on holiday in hot countries. Especially small and tomorrow will be the volume, because in the U.S. market will be closed due to holiday. In the area remain negative and almost all liquid futures on individual chips, however, small losses of 0.5 to 2%. For example, contracts for Sberbank and Gazprom reduced by 1.8%, VTB falling to 0.99%, Rosneft and Lukoil at minus 0.7%, in the red color and futures on gold. The only exception is a contract for a course in non-cash U.S. dollars, plus to 0,057%. Thousand dollars in September, the calculations can be bought on FORTS to 31 689 rubles.

In the tie-up options are popular for Sberbank, it has passed the most contracts. At страйках 25 and 32 rubles per share is an active trade on the 92-97% nd implied volatility. At the same time, an increase in the number of open positions. Put options give the opportunity zahedzhirovat long positions in shares of Sberbank, and also allow speculation and with minimal risk to earn a top-down dynamics of the market.

Despite the slight decline in our stock, large and panic selling is not observed. Oil is at a comfortable level of 68 dollars for keg. Our speculators now otygryvayut sales in Europe and the U.S. futures. However, great importance will be going to 16.30 PM IST, macroeconomic statistics on the labor market from abroad. Nevertheless, the bulls are important to maintain current levels, so as not to change the trend to come down. In the event of further collapse of the MICEX index may find support at the local level at 900 points. Good luck in the trade!

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On Friday and next week to become relevant trading strategies based on sales of unsecured

July 2nd, 2009

Today, bears on the domestic stock market started a counter-offensive and overthrew the bulls in the conquered yesterday Heights. If the day does not suddenly end with on a positive note, it should be possible to admit the victory bears not only in this small battle, but in the war for the trend.

Accordingly, on Friday and next week to become relevant trading strategies based on unsecured sales. Also, players who do not like to use the borrowed funds, could start to take an interest in shares second tier. Already you can see how they try to disperse the shares of smaller steel companies. By the way, if you participate in this game, you remember that the strong resistance to the pleadings Severstal - is marked 175 rubles (today, these shares have already been there), for shares in NLMK 75 rubles, for the securities CMI 15,9 rubles for shares TMK 80/81 ruble.

From the technical point of viewof some of the shares are very attractive even at current prices. Nevertheless, we fear that their growth sduetsya if the overall descending trend in the Russian stock market will accelerate. Therefore, to buy the paper Small Industry we do not risk to offer, but if you are already in the portfolio, it still make sense to keep them.

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While oil prices remain near $ 70 a barrel, the stability of the ruble is never exposed

July 2nd, 2009

Classic Summer Market

The Russian monetary, foreign exchange and debt markets now is not anything interesting. Even the rate of the ruble in recent days, very nearly did not react to volatility in oil prices. For example, yesterday the cost of barrel of mark Brent has fluctuated in the range of $ 68.5-71, while bivalyutnaya cart most of the day prostoyala a mark 36.85 rbl. In our view, while the prices of black gold to be close to $ 70, the stability of the currency is never exposed. Moreover, we see potential for further strengthening the ruble. The stakes are the money market yesterday remained at around 6.5%.

At the debt market continued sluggish growth of quotations most liquid releases. Some 15-25bp yesterday, added the paper X5-Finance-4 (YTP 18.53%), MTS-4 (YTP 15.19%), CFR-12 (YTP 14.96%), Moscow-45 (YTM 14.93%) and others.

After the release of reports that Gazpromneft is preparing a new bond issue, quotes a marketable Gazpromneft-4 (YTP 14.09%) failed by about 20bp, but by the end of the day returned to the previous level. In the meantime, Loko-Bank announced two loans at 4.5 billion rubles.

In Bond Market You can find information on issues of corporate and municipal bonds, as well as learn about the planned deployment, the outcome of trades on the MICEX and read the comments on the bond market.

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Shareholders KCHHK decided to send over 53 billion rubles for the payment of dividends on the basis of 2008

July 2nd, 2009

June 30, held the annual general meeting of shareholders of OJSC Kirovo-Chepetsk Chemical Combine them. BP Konstantinov, which had approved the annual report and financial statements of the Company as a result of 2008, including statements of income.

The shareholders also decided to pay dividends on the basis of 2008, excluding profits distributed as dividends on the results of nine months of fiscal year:

• on personal preference shares of type A JSC KCHHK in general the amount of 2 376 139 rubles 50 kopecks a rate of 7 rubles 23 kopecks for one preference share of type A nameplate;

• on ordinary shares of OAO KCHHK in the overall rate of 7 417 618 rubles 43 kopecks a rate of 7 rubles 23 kopecks per ordinary share.

Total dividends declared on the results of 2008, c subject to the declared dividends on the results of nine months of 2008 is as follows:

• on personal preference shares of type A JSC KCHHK the total amount of 1 302 186 889 rubles 50 kopecks a rate of 3 962 rubles 23 kopecks for one preference share of type A nameplate;

• on ordinary shares of OAO KCHHK in total amount of 4 065 049 828 rubles 88 kopecks a rate of 3 962 rubles 23 kopecks per ordinary share. Read the rest of this entry »

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Yesterday, a pair of Euro / dollar rose in the U.S. session to 1.4199

July 2nd, 2009

Yesterday, a pair of Euro /dollar rose in the U.S. session to 1.4199. Pound /dollar reached 1.6542. The pair dollar /yen has grown on the American session, with 80 points to 96.95, but by the end of the session has stabilized around a mark 96.50.

yesterday came following macroeconomic statistics:

ISM index in the United States for June 2009 amounted to 44.8 (forecast was 43.9, the previous value of 42.8).

Construction spending in the United States in May 2009 was -0.9% (forecast was -0.4%, revised from the previous value of0.8% to 0.6%).

The experts noted that the negative impact on the dollar has reported that China proposes to discuss at the forthcoming Group of Eight summit to be held next week, the introduction of a new international reserve currency.

It should be noted that activity on the forex market this week is relatively low. This is due to the fact that on Friday the U.S. celebrates Independence Day, but tomorrow is expected to publish a regular review of the labor market in the United States and the ECB rate. In such situations, investors prefer to be out of the market.

Yesterday Dow Jones index of the New York Stock Exchange rose 72.33 points (0.86%). Nasdaq index rose 14.66 points (0.80%). SP 500 index rose 6.08 points (0.66%).

Yesterday index Frankfurt stock exchange Xetra DAX rose 96.80 points (2.01%). The index of London Stock Exchange FTSE 100 rose 91.50 points (2.15%). The index of the Paris stock exchange CAC 40 rose 76.56 points (2.44%).

Today in Asia remained the main driver market Japanese yen, which is significantly correlated with the dynamics of the stock market. The index of the Tokyo Stock Exchange Nikkei-225 fell 63.78 points (-0.64%). Index of the Hong Kong Hang Seng stock market is growing at 138.09 points (0.75%). Singapore Straits Times Index weakened to 10.90 points (-0.46%).

Today in Asia pair dollar /yen rose to 96.65, after lowering the mark to 96.38. Read the rest of this entry »

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The price of oil «push» the Russian stock market to sell

July 2nd, 2009

02.07.09 12:53 ;
  Russian stock trading site started today with the fall of the most liquid securities of approximately 2%. Reduced the price of oil has contributed to a sharp drop in shares of the morning of the oil and gas sector. MICEX Index was unable to gain a higher mark of 1000 points, and again began to drop below the psychologically important level. By 12.40 Moscow time the MICEX index lost 2.4% at 987.98 points. RTS Index fell by 0.47% to 973.3 points. Trading volume on the MICEX SE is $ 1 033.62 million

now in the Russian market is dominated by the sale. The leader is the reduction of OGK-3, whose shares fell more than 6%. Papers «Gazprom», «Lukoil» and «Rosneft» decreased by 2,8%, 2,1% and 2,4% respectively. Against the backdrop of bad reporting «AvtoVAZ» 2008 avtogiganta shares fell by 4%.

European platform traded down. FTSE index lost 0.9% at 4301.32 item DAX index lost 1.58% at 4,827.76 point, the index CAC 40 - 3178.8 points (-1.18%). By 12.40 Moscow time ADRs in the Russian equities in London (in dollars per share) as follows: Company - 44.7, NorNikel - 93, Rosneft -5.48, Rostelekom - 5.277, Gazprom - 5.175.

SP futures fell by 0.54% and is at the level of 914.2 points.

Today, the MICEX to the dollar gives 31.12 rubles for one euro - 43.89 rubles. Thus, the value bivalyutnoy basket now 36.88 (yesterday at this time it was 36.87 rubles).

At the site there is pessimism commodity - oil prices continue to decline. Read the rest of this entry »

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Oil again failed under the $ 70 mark

July 2nd, 2009

Europe

Old World Index grew by an average of 1.75%, due to the growth index of business activity around the world and positive corporate news. The mood of investors change with frequency of once every one to two days, suggesting the bezydeynosti happening, no prospects, and the formation of lateral vysokovolatilnogo trend.

America

indexes the New World increased by 0,4-0,7%, thanks to a moderately-neutral economic statistics and the optimism of analysts. However, there is no unity of opinion in the minds of investors and speculators are not there, that actually reflects a slight change in the stock indexes.

raw materials, currency, etc.

Industrial metals at auction in London a few fast ice, if you look at the stock exchange composite index LME. But gold rose to $ 940, where the local level of resistance in this metal. If gold grew, it was logical to drop the index value of the U.S. dollar, and that you will not believe it, really like this: yesterday, the dollar weakened against a basket of currencies. Read the rest of this entry »

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Indexes in the United States rose on Wednesday on the positive statistics, futures on Thursday desheveyut

July 2nd, 2009

U.S. stock indexes rose on Wednesday on the positive statistics on the productive sector and the housing market, reports Bloomberg. Futures on the indexes in the United States desheveyut Thursday, 8:28 to reduce their quotes an average of 0.2%.

index of business activity in the manufacturing sector, the U.S. (ISM Manufacturing) in June rose to 44.8 points - the highest level since August last year, compared with a 42.8 point a month earlier.

index value of 50 points or less said about the deterioration of business activity in the manufacturing sector. Thus, the slowdown in June was a minimum of 10 months.

In addition, the National Association of realtors showed that the index of outstanding transactions on the American market of secondary housing (pending home sales) increased in May, the fourth month in succession.

The market considers the published data, as leading indicators, - said Governor of Thrivent Asset Management, Michael Binger. - If we see signs that the decline in these areas has reached its bottom, and there is a chance for a resumption of growth, it is positive for the stock market .

Cost Kraft Foods shares jumped 5% - to $ 26.61. American food manufacturer announced the intention to expand its production in Russia. Read the rest of this entry »

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