Today's stock market dynamics are first of all due to yesterday's release of negative macroeconomic data, which led to a lack of a clean-cut trend of the US business activity indices. However, according to the current trade, there is hardly anyone willing to sell stocks, since there is a great probability that buying stocks will cost one a lot more than today, according to Vladimir Khoshin, Director for brokerage operations of Fora-Capital.
The downward dynamics on the Russian stock market was entirely due to the situation on the US stock market - not the macroeconomic situation in Russia. After a nearly three-week consolidation the market became stronger, investors emerged, so by the end of this year stock prices may grow much higher than the current level. In other words, there is virtually no potential for a serious correction on the stock market. Moreover, next week will probably see the consolidation continue.
The number of selling orders is currently rather limited on the market, which points to the fact that investors are not interested in prices going down. Therefore there are reasons to believe that the stock market is preparing for a new rally that may set in on the threshold of the November holidays. One could probably say that if the stock market does not show upward price dynamics before the end of November, when the downward trend will finish, we will see a sideways trend that will signal the continuation of consolidation.
After it turned out that Deputy Prime Minister Andrei Belousov included the Fonbet betting company in the list of backbone enterprises that can count on state support, everyone started talking about these bookmakers.