Market reviews and recommendations of "Broker house "Jazz Capital" JCS (Kazakhstan) analysts for May 17, 2011

/IRBIS, May 17, 2011/ -"Jazz Capital" Broker house JCS (Almaty, Real Invest Froup) has provided IRBIS with a survey of main events, market reviews and investment ideas for May 17, 2011. Analysts of JSC "Broker House Jazz Capital" expect the following developments on international markets today:: - Bidding on the main market USA and Europe resulted in another decline in the indices. Weak macroeconomic statistics, coupled with uncertainty about the future prospects of debtor countries EU (PIGS) - these are the main factors behind the formation of negative sentiment among the western market participants. For example, in U.S. data were published on an index of business activity in the industry FBI in New York, according to which the index this month fell by 9.9 points to 11.8 points. The index shows the negative dynamics in the past three months, and has already reached the minimum values in the current year. In addition, there was also negative data on the index of current conditions and expectations for the housing market NAHB, which in the current month, contrary to expectations, did not change in values, remaining at the level of last September. The meeting of finance ministers of the eurozone countries is also putting pressure on trading in the western areas - investors expect a tougher policy toward Greece, in particular new attempts to pressure on Athens from the requirement to introduce additional austerity measures. Additional negative sentiment among the players is making the situation surrounding the IMF head Dominique Strauss-Kahn, who was arrested last weekend at the international airport in New York on suspicion of attempted rape. Following the session, the main European indexes have decreased from 0.04% - to 0.72%, U.S. Dow Jones and S & P 500 closed the day was down 0.38% and 0.62% respectively. Today in the U.S. will be published detailed data on the real estate market, and the index of industrial production for the previous month. In the euro area the players' attention will be riveted to the publication of data on the indicator of economic sentiment German institute ZEW. - Indexes of emerging markets of trading results on Monday showed a significant decrease in quotations. Market participants of emerging markents in the course of the last session came under pressure of the whole list of negative factors, so in addition to rehabilitative attitudes imported from key Western markets, regional players have been forced to act out another reduction in oil prices, and new expectations of monetary tightening by the Bank of China. Thus, the dynamics of the Chinese monetary authorities taken action in the past few years clearly indicates that, before the next immediate increase in refinancing is usually an increase in reserve requirements on deposits. Recall that last week, Bank of China again raised the bar on the minimum legal reserves on deposit mobilization of STB, which in our opinion is something of a "leading indicator" before a new increase in refinancing. Following the session, all four BRIC countries key indexes closed lowered by more than half a percent, Russia's RTS index has traditionally found itself in the vanguard of a decline, falling by 1.02%. - Cost per barrel of Brent oil up to the last session, fell 3.19% to $ 110.93. A small upward adjustment of quotations of "black gold" late last week, apparently came to an end, as evidenced by the dynamics of the last trading day. Market participants, on the background of overall negative sentiments, adjusted positions on oil futures, which led to decreased prices to their lowest levels this month. Given the prevailing currently among the market participants expressed corrective mood, the analysts of "Jazz Capital" are expecting the continued decline in oil prices in the next few weeks, and the dynamics of the reduction will depend on the behavior of quotations of "black gold" near the psychologically important marks of $109 and $100 for barrel. - The price of an ounce of gold on the basis of past trade declined by 0.04% to $ 1,489.8. Gold prices remain close to the psychological mark of $ 1,500 an ounce for the past eight trading sessions, the chance that our forecast announced two weeks ago. The breaking of such an important level is traditionally accompanied by a large amount of "noise", which is usually due to both profit-taking players to improve and tries of "Bears" to earn on a correction. Analysts of Jazz Capital continue to see substantial growth prospects of the price of an ounce of gold, with the current downward correction is likely to be completed in the coming weeks, after which analysts of Jazz Capital with high probability will witness a continuation of the recent price rally. - Currency pair EUR / USD on the basis of the last session increased by 0.7% to 1.4158. The euro exchange rate is currently at the minimum over the past month and a half levels, and increase, which took place during the last session, in our opinion, is due to only necessary correction after several weeks of decline. Analysts of Jazz Capital believe that in the short term, the euro will continue to "cheapen" against the U.S. dollar, while negative for the European currency dynamics can fold increase if the psychologically important level of 1.40 will be overcome without significant resistance. - Currency pair GBP / USD on the basis of trading on Monday has become stronger on 0.12% to 1.62. The British pound as the euro, which is in a protracted peak, has been trading for more than two weeks, being adjusted from 1.61 mark, which is also in the eyes of analysts of Jazz Capital was due solely to technical factors. The prospects of the national currency of the United Kingdom, at present, according to our estimates are very close with the prospects of the euro, which makes us to predict the continuation of a downward dynamic in the coming session. 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. [2011-05-17]