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Veles Capital - Daily review - Aug 10, 2011.

Trader's view

Output of statement by FED of the U.S. on the policy of the regulator remaining tolerant, and the base rate remaining stably low until mid 2013 supported the American market to win back Monday loss. As a result S&P 500 added 4.74%. Russian market closed in the red zone yesterday: MICEX index lowered by 0.13%, RTS index lost 2.9% - the major input to the shares price loss was made by the reduction of ruble rate versus dollar. Large sale went in the Russian energy sector, less - in banks and oil sector.

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News briefly

Oil-and-gas: API forecasts all-time high drop of crude oil supplies in the U.S.

Trader's view

Output of statement by FED of the U.S. on the policy of the regulator remaining tolerant, and the base rate remaining stably low until mid 2013 supported the American market to win back Monday loss. FED announced its intention to continue with the policy of re-investing assets into the principal securities. As a S&P 500 added 4.74%. The trade in Europe closed before the statement by Bernanke has been made, and were multiple-valued. FTSE 100 added 1.89%. Russian market closed in the red zone yesterday: MICEX index lowered by 0.13%, RTS index lost 2.9% - the major input to the shares price loss was made by the reduction of ruble rate versus dollar. Large sale went in the Russian energy sector, less - in banks and oil sector. Purchases took place in the shares of Severstal, preferred shares of Transneft, Polymetal, and PIK. Asia is climbing since the trade open: NIKKEI 225 added 1.16% and HANG SENG added 3.27%. Prices of the oil futures are climbing also: futures for the Brent oil added 2.24% and reached 104.9 USD per barrel.

Foreign background is positive for the Russian market and we expect it to grow.

Russia, Moscow, 123610, Krasnopresnenskaya nab. 12, Entr. 7, floor 18

Tel.: 7 (495) 258 1988, Fax: 7 (495) 258 1989

e-mail: research@veles-capital.ru

web: www.veles-capital.ru
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Publication:Russian Banks and Brokers Reports
Date:Aug 10, 2011
Words:362
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