FTSE leave Sberbank and VTB in their indexes
FTSE provider decided to leave
Sberbank and VTB in their indexes,
the company said.
FTSE previously stated
the possibility of excluding from the index
shares of the two banks due to sanctions
the European Union.
two options: remove paper
VTB and Sberbank of index calculation
after the new share issue
or not to increase the weight of these banks
indexes after the new issue, after
to begin consultations with the Investor
about sanctions duration.
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Euro, what are you doing? Again you fall?
And again, the euro fell to
nine-month low on Wednesday after
a sharp decline in output data
Industrial orders in Germany.
According to Reuters,
investors do not want
to take the risk, prompting fears
on the crisis in Ukraine, but because
universally support the dollar and pressured
Wednesday also accelerated
decline of the euro, when it became known that
the number of industrial orders in Germany
in June fell the most since September,
2011 due to the geopolitical crisis.
Now, these risks do companies
more cautious when entering into
After the release of statistics
the euro fell to $ 1.3349, the lowest value
November. Now he is trading at
As a result, reduce
Dollar updated 11-month high to
a basket of currencies. The dollar index rose
already before 81.65, higher than the maximum value
since September last year.
"We went back to
Medium-term trend of increasing
dollar", – the analyst said Jesper
Bargmann from Nordea Bank. For some
, the euro is likely to be even
decline against the dollar due to the difference in
forecasts for monetary policy
in the US and the euro zone, as the expert said.
The dollar is stable today
the yen is at about 102.58.
Euro as the yen fell to 0.15% – to
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Morgan Stanley is waiting for a rebound on the pounds to sell
Pound / dollar (GBP / USD) tested the 200-day moving average at $ 1.6665, which suggests a correction to the recent sharp decline, analysts say Morgan Stanley. Nevertheless, the bank looking for strengthening of the dollar in the coming sessions, so traders Bank will use any rebound to $ 1.6750, to restore a bearish stance with a view to $ 1.6260 with a stop at $ 1.6850. GBP / USD is now trading at $ 1.6696.
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The Ministry of Finance will buy the shares of VTB and Rosselkhozbank 239 billion
Ministry of Finance
Russia plans to spend on VTB and
Rosselkhozbank 239 billion rubles.
The funds will be used to increase
capital of credit institutions
The Ministry of Finance will buy shares
VTB and Rosselkhozbank to 239.04 billion
rubles. For the purchase of shares directed
NWF returned after
these credit institutions execution
as well as of "Bank of Moscow" and VTB 24
obligations to repay the subordinated
credits (loans) to Vnesheconombank
RIA Novosti reported with reference to the report
Previously, loans were
granted in accordance with the law
"On additional measures to support the
Russian financial system".
Shares are not involved
on the open market and are not part of
any stock indices, because
that the share issue will take place
first. Because of this, in the documents are not
subject to the requirements for the inclusion of
shares of legal entities in the quotation
a list of at least one stock exchange
and lists of securities used
for the calculation of stock index – RTS
Recall the two banks –
VTB and Rosselkhozbank – fell in July
under the EU sanctions and the United States that prohibit
medium- and long-term organizations
financing in these countries.
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Deutsche Bank: the euro is doomed to fall
Currency strategists at Deutsche Bank noted that further euro / dollar decline toward $ 1.25 (to achieve this mark is expected before the end of the year), there is plenty of reasons. The bank pay attention to the weakening of inflationary expectations and the sluggish growth of the euro area economy, the outlook is more clouded after the escalation of the situation in Ukraine. Russian retaliatory measures will have a negative impact on economic activity, the scale remains unclear, and the ECB has started to operate today to be proactive. the euro is not an unexpected decision of the central bank promises no good and only give impetus to the outflow of funds from fixed-income securities, which is already having a negative impact on the dynamics of the currency. In addition, it is noted, and the decline in demand for European action – that of growth in the euro has provided good support during the last twelve months.
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Citi sells EUR for the purpose of $ 1.22 and a stop at $ 1.32
Citigroup upgraded its trading recommendations, slashing short position in the euro versus the South African rand, increasing short positions in the euro against the US dollar. The purpose of this trade in the euro / dollar is $ 1.22, and a stop-loss set at $ 1.32. Citigroup allocates 15% of its capital on the trade. "Recently, the dollar strengthening is required to increase interest rates in the United States, which had a negative impact on local stock markets. It may continue in the short term, as the dollar’s rally and rising bond yields accelerated"- noted strategists at the US bank. EUR / USDseychas trading at $ 1.2890. Source: Forexpf.Ru – Forex Market News
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Bank of America Merrill Lynch: Use correction euros and pounds for new sales
In the medium and long term, Bank of America Merrill Lynch is the bull in the US dollar. In the short term the bank sees high US currency risk of correction, especially against the euro and the British pound sterling. “In both cases, the alleged kickbacks are a good opportunity for sales”, – said currency strategists at Bank of America Merrill Lynch: «In euro / dollar medium-term objective is in the 1.2787 / 1.2694. Ultimately, the single currency should fall within the range of 1.22 / 1.18. Sterling in the medium horizon should fall to 1.5722 and then to 1.5000 figure. ” Cross the euro / pound exchange rate looks as renewed medium-term bearish trend that emphasized yesterday’s bearish reversal candle. Breakthrough 6-week channel at 0.7872 confirms a downward trend for the purpose at the level of July 2012 lows at 0.7756. Potentially, prices could fall even lower, experts believe BoAML. Source: Forexpf.Ru – Forex Market News
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