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Negative sentiment, and higher liquidity
Good morning… Trading yesterday was again in light of Aik banka, with high volume, which was 72% of overall turnover. Other shares recorded very low volume. Belex15 finished the day with a negative correction, -0,98% while Belexline ended the day with -0,65%.
Total turnover yesterday was 1,6 million EUR, and bonds made up 21% of total turnover.
Worthly of note is the participation of foreign investors with 58%. They were more active on the buy side, 92%, while sellingside was 24%. The most contribution was the trading Aik banka, were foreign investors were the buyers of domestic collateral.
Today, we expect continued negative trends, with low liquidity.
SERBIAN EQUITY market; HIGHLIGHTS
| DOWN | 20 |
| NO CHANGE | 18 |
| UP | 12 |
| TOTAL TRADED | 50 |
TOP PERFORMERS (table)
BELEX15 / General info / Change (%) / Fundaments (Trailing Basis for banks) (table)
BELEX15 - BELEX15 index (chart)
SERBIAN EQUITY market; FUNDAMENTALS OF SELECTED COMPANIES
Selected Serbian Equity Fundamentals (Trailing Basis) & Performance (tables)
WORLD EQUITY indices - FLASH DATA
General Information / index / Country / Change / Fundaments (table)
City group as one of the main gainers of the day
On the anniversary of the hugest decrease and the lowest indices’ value there was a slight growth of shares prices, accompanied with careful trading because there were no encouraging news for investors. We are providing you with some statistics, just to evaluate market’s recovery from the March last year until now. The highest growth recorded Genworth Financial (1.830%), Office Depot (1.030%), Fifth Third (875%), Wyndham Worldwide (719%) and Gannett (634%), which are included in S&P index. We have to say that it would be nice if we bought only one of those shares and held it for all this time. Shares included in Dow Jones index had a less dramatic increase, but still respectable. The highest growth recorded Bank of America (346%), American Express (273%) and JP Morgan (168%). Yesterday on market focus was on shares of City Group that went up for 7.3%, affected by rumors about prohibiting short sales (practice of trading which influence is seen in huge price volatility) with shares of companies owned by state. American government is a great shareholder in City Group, Fannie Mae and Freddie Mac.
C US: Citigroup Inc (chart)
TECHNICAL OUTLOOK; WORLD EQUITY indices - CAC; daily graph
INDU -- DOW JONES INDUS. AVG (chart)
Simillar pattern
Today we are looking at weekly DJIA graph. Few days ago we pointed out possible double top on S & P graph and today we can say that we see almost the same graph here. Resistance is around 10.700. If double top forms, target could be around 10.000 points (5 to 7% below current levels). ADX shows that up trend is weak. OBV shows that volume of trading is more or less flat.
Have a successful day.
Trading suggestion:
Sell around 10.700 with T/P 5 to 7% below current levels and S/L at 10.850.
Technical targets:
| 10.725,00 | high from 24/6/05 |
| 10.546,00 | close |
| 10.350,00 | low from 3/10/08 |
| 10.215,00 | high from 7/11/03 |
| 9.855,00 | high from 17/10/08 |
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http://reports.aiidatapro.com/SBB/InterCapital_Securities/IC_Equity_Daily_100310.pdf
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InterCapital Securities a.d. Belgrade
23, Makenzijeva Str. * 11000 Belgrade * Serbia * Tel: +381 11 380 93 93 /+381 11 380 93 91 * Fax: +381 11 383 76 00 * http://www.intercapital.rs * e-mail: research@intercapital.rs
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IC Equity Daily 100310.pdf, 730 Kb
