Market reviews and recommendations of "Broker house "Jazz Capital" JCS (Kazakhstan) analysts for May 20, 2011

/IRBIS, May 20, 2011/ -"Jazz Capital" Broker house JCS (Almaty, Real Invest Group) has provided IRBIS with a survey of main events, market reviews and investment ideas for May 20, 2011. Analysts of JSC "Broker House Jazz Capital" note the following significant events: - The last session on American and European markets ended with the growth of the major indexes. Western optimism of market participants on this occasion was supported by corporate news from Europe, as well as weekly data from the U.S. labor market. Thus, the Swiss commodities trader Glencore has managed to attract in its IPO on the London Stock Exchange in amount of about $ 10 billion, which positively affected the quotations of the leading steel companies. The total number of unemployed receiving severance pay in the United States for the week decreased by 81 thousand people and made 3,711 thousand, which was slightly better than prior expectations of experts. Thus, the negative statistics from the U.S. labor market, released last week, at least for the moment did not led to the formation of a negative trend. At the same time, as a deterrent, was statistics from the U.S. real estate market, as well as the published value of the index of leading indicators. Thus, the total number of residential homes sold in the secondary market in the U.S. in April decreased by 4 thousand to 5.05 million homes, while analysts had predicted growth figure to 5.23 million homes. In addition, the index of leading indicators in April showed a decline of 0.3%, after the March increase of 0.7%, despite the fact that market participants did not expect changes in the index. Conflicting macrodata nevertheless was useful for "bulls" that allowed the indices in Western countries once again to complete the session with increase. European indexes have increased in the range of 1.25%, the U.S. Dow Jones and S & P 500 on the session rose 0.36% and 0.22% respectively. - Indices of key areas of emerging markets finished trading on Thursday with mainly an increase of quotations. Three of the four main indexes of BRIC countries on the basis of the last session recorded growth, the exception was only the Brazilian Bovespa, adjusted by 0.75%. Notable is the fact that market participants of developing countries have actually ignored the negative data on Japan's GDP, remaining under the positive influence of oil prices the day before. Correlation level of emerging markets with quotes of "black gold" again becomes threatening, so, and probably the key, and in fact the only indicator for the regional market participants may become the dynamics of oil prices. Russia's RTS on the session recorded an increase of 0.52%, which allowed it up to the last two days almost entirely wager decline of the beginning of the week. - Cost per barrel of Brent up to the last session, fell 1.55% to $ 111. Unstable dynamics of quotations of "black gold" which became characteristic of the trading of oil futures over the last month, led to another significant change in the vector, so after several days of growth, the cost of a barrel of oil has demonstrated more than 1.5% fall. Analysts of "Jazz Capital" note that to name a real reason of such a change at the moment is extremely difficult; one can only assume that traders assessed the replay of data on stocks of petroleum and petroleum excessive. In the short term, oil prices, according to the "Jazz Capital", will continue to be sustainable, with a range of price changes is likely to remain fairly narrow - the lower limit will be located just below $ 110, upper - around about the mark of $ 113.5 per barrel. - The price of an ounce of gold at the past auctions adjusted for 0.05% up to $ 1,491.5. The dynamics of the gold price is becoming narrow "side trend", reducing the daily volatility of up to exorbitant levels. At the same time, such behavior of contracts for ounce, is typically a kind of harbinger of the next launch of price rally, and probably soon there will be another confirmation of the presence of this pattern. Also one of the key indicators of changes in gold prices - the U.S. dollar during the last session had no effect on the dynamics of the usual quotations of "precious metal" - Currency pair EUR / USD on the basis of the last session increased by 0.06% to 1.4308. The cost of European currencies after the last four sessions has increased by 1.41%, which is probably due to both the Fed's promise to remain committed to a soft monetary policy for another long period and a gradual reduction of uncertainty about the scandal with the head of the IMF. At the same time, the volatility of the currency pair over the past 10 sessions is unusually mild, and most likely a similar nature will accompany trading of euro/dollar for the next month. - Currency pair GBP / USD on trade results on Wednesday rose by 0.34% to 1.6225. The British pound, once again, pushing off from a strong support level at around 1.61, has managed to add a little value with the uncertainty of future prospects is characteristic for both major European currencies. The given material has exclusively information character and is not the offer or recommendation to make any transactions with the stocks. IRBIS Agency doesn't take responsibility for the opinions which are in given material. [2011-05-20]