miércoles, 23 de septiembre de 2009

Analysis September 2009

A month highs but this time the cut could come next October. The indices show signs of exhaustion and the volume of cash is dwindling. In this scenario to highlight some of the mining, banking with Commerzbank signing up a spectacular rise of almost 50% but is surpassed by Eurotunnel honeys enjoying the benefits of 40 million won in 2008, exceeding the 56% rise.

A month highs but this time the cut could come next October. The indices show signs of exhaustion and the volume of cash is dwindling. In this scenario to highlight some of the mining, banking with Commerzbank signing up a spectacular rise of almost 50% but is surpassed by Eurotunnel honeys enjoying the benefits of 40 million won in 2008, exceeding the 56% rise.

Crude continues to escalate but seems to have found resistance in the $ 70 that you are struggling to overcome. As the above prices will pressure inflation further and begin to rise, having no choice but central banks must start to do the same with interest rates.

The lean pork this month has seen a marked improvement of almost 10% in the quarter but left the same. Presumably the decrease as alarmism about influenza A demand for pork is recovering and will become the best friend of fear is ignorance.

In exchange we have the South African rand is catching up with the euro, by eating ground every month. Emerges as a safe investment for the coming months.

The interest rates indexed to the Euribor and Libor continuing to drop by promoting investment and providing stability to the bags that they reduce the volatility, although expectations for October are negative according to the ZEW published. In terms of sectors expected positive developments in chemical and pharmaceutical companies by the spread of the virus during this autumn and winter, betting by Sanofi Aventis.

Interest rates do not provide change. There will be quite attentive to the upcoming G20 meeting will be decided on the policy to adopt in this respect without forgetting of course the creation of supervisory bodies for banking.

In the Spanish Stock Exchange betting on the big financial stocks such as Banco Santander and for longer periods as companies with low volatility Ebro Puleva.

Jorge de Lalama Seoane

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