Market reviews and recommendations of "Brokerage house "Jazz Capital" JCS (Kazakhstan) analysts for July 21, 2011

/IRBIS, July 21, 2011/ -"Jazz Capital" Brokerage house JCS (Almaty, Real Invest Group) has provided IRBIS with a survey of main events, market reviews and investment ideas for July 21, 2011. - Major U.S. and European sites have completed the last session with multidirectional change in indices. Positive corporate reports of major U.S companies, coupled with Obama's statement, assuring market participants that a compromise between the major political parties and the Senate was finally found, and now in its opinion and without the phantom threat of default for USA on August 2 does no longer exist - these are the key factors rise to the next rise of European indices. It is noteworthy that the U.S. itself, acting as a source of positive sentiment last session had not convincing - the volatility for some strange reason, most analysts to be minimal, and the closing took place at all levels just below the opening. With regard to reports of the season, there is a number of large and famous companies and banks in the U.S. presented a nice surprise, so profit higher than the preliminary forecasts for the second quarter showed such "heavyweights" as Bank of America ($ 0.33), Bank of NY ($ 0.59), Coca-Cola ($ 1.17), Harley-Davidson ($ 0.81), Johnson & Johnson ($ 1.28), Wells Fargo ($ 0.70), M & T Bank ($ 2.42). The economic data released on Wednesday were moderately negative, so that the producer price index in Germany rose by 5.6%, which was higher than analysts' expectations, and real estate sales in the United States in the secondary market decreased by 4 thousand to 4.77 million homes, while experts predicted growth figure to 4.93 million homes. Following the session, key indices in Europe increased between 0.4% - 1.6%, U.S. Dow Jones and S & P 500 following trading results on Wednesday, adjusted by 0.12% and 0.07% respectively. Today, the U.S. will continue to publish the statistics with the real estate market. In addition, market participants will wait for the weekly data on employment. In the euro area among the most significant events should be noted the Brussels summit on the current problems of the region. - Indexes of BRIC countries during the last session did not show unanimity, and termination of the trading day turned in different directions. The optimism of European players who have not been divided by most traders in areas of developing countries, only one index of neighboring Russian RTS, which has traditionally been a significant dependence on the dynamics of the sites in Europe, at the end of trading on Wednesday added more than 1%. The remaining areas in the BRIC countries during the last day have not been particularly active, which affected on the final result. Unexpressed oil prices, as well as remaining fairly significant problems in the global economy - is not allowed to prevail "bulls" in regional areas. Most reduction demonstrated the Chinese Shanghai Composite, has lost Wednesday in the capitalization of more than 0.8%. Today's premarket for emerging markets analysts of "Jazz Capital" regard as moderately negative - players will be negatively affected by uncertain closure of the U.S. sites. - Oil prices of North Sea Brent crude on the results of the last session rose by 0.93% to $ 118.15 a barrel. Quotations of "black gold", besides good mood of European traders were also supported by weekly statistics on oil and petroleum products in the U.S., according to which the oil reserves for the reporting week, again, as a week earlier fallen by more than 3 million barrels in while analysts expected a triple modest decrease. From the perspective of technical analysis, the current situation on a weekly chart of quotations of "black gold" reminds similarity with a similar situation in January last year - then the price of oil, and after a short, definitely time to "take a break" after which the price increases resumed. It is also noted the importance of being close at $ 120 per barrel in the last month, acting as a fairly strong resistance level. - Prices of gold, at the end of last session were down by 1.2% to $ 1,587.4. Quotes of "precious metal" adjusted to the new significant support level of $ 1,600, while analysts have no doubt that named limit in the short term will be taken. Analysts of "Jazz Capital" have repeatedly pointed out that under conditions of uncertainty and higher risks in the global economy, quotes of "precious metal" in the eyes of a number of investors are the bulwark of reliability, and given the fact that the global economy can not be solved quickly, the attractiveness of an ounce of gold will only increase. - Quotes of currency pair EUR/USD on the basis of the last session increased by 0.76% to 1.4258. The course of the regional European currency increased in the last three trading days, amid expectations of market participants to take concrete workable solutions at the Brussels summit on 21 July. The EUR/USD, again pushing up from the level of 1.40, for the past three months was in the price range of 1.40-1.45, while the upper limit of the specified channel tends to decrease, forming a descending triangle shape. Analysts of "Jazz Capital" believe that in the short term is the discussion of Heads of State and Government of the eurozone, as well as the outcome of the solution to increase the national debt bracket on 2 August - will be factors in determining the dynamics of given currency pair. - Currency pair GBP/USD up to the last session has strengthened by 0.21% to 1.6154. The British pound, which is in a very similar position with the euro, also on the results of the last few days shows a slight increase, allowing it to gain a foothold above $ 1.61. Nevertheless, the analysts of "Jazz Capital" have repeatedly stated that the British currency is formed by a downward trend, whose influence in the very short term will increase by many times. This 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 this material. [2011-07-21]