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Major Global Markets Rallied for Most Part of the Christmas Week – Troika Dialog

December 25, 2009

Global markets: Weekly overview

Major global markets spent the Christmas week mainly in the positive territory, supported by recovery in oil price, stronger metal prices and good economic data from the U.S.

The U.S. market rallied for most part of the week with regional indices closing around 2% up, at the 15-month high. The U.S. economy grew in 3Q09, there was a jump in home sales, jobless claims fell more than forecast and orders for durable goods topped analysts’ estimates.

Asian market was strong as well, with indices closing from 2% to more than 3% higher.

Russian equity market was mixed: RTS Index gained around 3% w-o-w, whereas MICEX closed slightly lower. NOVATEK posted impressive performance, gaining almost 8%, after the Federal Antimonopoly Service cleared the way for Gennady Timchenko’s companies to raise their stake in NOVATEK to 23% from 18.2%.

 

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