The Russian market is waiting for investor optimism

Foreign Exchange Market Finansy05-09-2007 The Russian market is waiting for investor optimism despite yesterday's drop in Russian stock market today, possibly a slight increase - due to external factors. According to Ilya Fedotov, a leading analyst of the Investment Company Veles Capital, the stock market went down yesterday due to technical reasons. "As we expected, on Tuesday the Russian stock market has fallen steadily throughout the day. The external factors were neutral. Probably, this reduction is due to technical factors - told us Fedotov. - In particular, on Monday, the RTS index reached a local maximum and the "top" was limited to the upper boundary of the growing channel. Accordingly, on Tuesday indicator "bounced" from this mark. It is also worth adding that a "strong" level of support made a mark 1900 points, samples of which the market could not. " However, the situation in Russian markets may straighten. "External factors can contribute to restoring investor optimism - in many world stock indexes there has been upward movement, continues to grow and the energy market", - said Anton Startsev, an analyst IF OLMA. Meanwhile, in his view, increase in world markets is still uncertain nature - investors will probably prefer to await the decision of the Federal Reserve with respect to the base interest rate (18 September) before returning to the emerging markets. Yesterday, U.S. stock indices have risen largely due to market high-tech and oil sectors. Investors are likely to expect that the crisis in lending will not affect significantly to corporate profits and expect help from the Federal Reserve, hoping to reduce the base interest rate in September. Today is expected to yield a package of statistics, including the "beige book" The Fed (22:00). Futures on U.S. stock indexes fell slightly. European stock indexes rose. A uniform motion dynamics of the Asian indices have not yet happened. Russian ADRs closed above the closing price Rs. Division of Information