Stock Markets Currencies Report by VRS 2012-01-09

8/2/2019 Stock Markets Currencies Report by VRS 2012-01-09

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Stock Markets & Currencies

Valuation & Research Specialists (VRS) 1

Stock Markets &

CurrenciesHistorical Graph AnalysisPeriod 2005 - 2011

by Valuation & Research Specialists (VRS)

January 9, 2012

Value Invest www.valueinvest.gr Investment Research & Analysis Journal www.iraj.gr


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DISCLAIMER

No information published constitutes a solicitation or offer, or recommendation, or advice, to buyor sell any investment instrument, to effect any transactions, or to conclude any legal act of any

kind whatsoever.


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Researcher: VRS Research Team

Special Contributor: Fragkiskos Avlitis

CONTENTS

Stock Market Indices

Dow Jones IA 30 - USA 6

Nikkei 225 Japan 7

FTSE 100 UK 8

DAX 30 Germany 9

CAC 40 France 10

General Index Greece 11

Foreign Exchange Rates

EUR / USD 13

USD / JPY 14

EUR / JPY 15

GBP / USD 16

EUR / CHF 17

EUR / GBP 18

Notes 19

Disclosure Statement 20

You may contact Valuation & Research Specialists (VRS) at [email protected] toorder the data series of this report in excel format (CD ROM). Price: 50 euros includingVAT and postage expenses.


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Stock Market Indices

Historical Graph Analysis

Period 2005 2011 ___________________


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DOW JONES - USA Period 2005 2011, Weekly Data(Time period as day/month/year)

Source: VRS

6,000

9,000

12,000

15,000

23/9/2005 9/10/2006 11/2/2008 11/5/2009 5/7/2010 16/8/2011

TIME PERIOD Source: Valuation & Research Specialists (VRS)

DOW JONES IA 30 - USA

The following comment expressed by VRS is based on weekly data analysis and does not constitute

an offer to sell or a solicitation of an offer to buy any currencies, shares, warrants, convertible

securities or options by no means.

COMMENT

Dow Jones is trading along an upward range since the first half of 2009. Its

pattern has turned more volatile in the last 12 months. 10,000 established a

strong long-term support level.


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NIKKEI 225 - JAPAN Period 2005 2011, Weekly Data(Time period as day/month/year)

Source: VRS

5,000

9,000

13,000

17,000

23/9/2005 9/10/2006 11/2/2008 11/5/2009 5/7/2010 16/8/2011


NIKKEI 225 - JAPAN




COMMENT

NIKKEI is trading along the range 8,000 12,000 since the first quarter 2009.

During 2011, the Index followed a volatile downward trend starting from above

10,000 and approaching the neighborhood of 8,000 by the end of the year.


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FTSE 100 - UK Period 2005 2011, Weekly Data(Time period as day/month/year)

Source: VRS

3,000

4,000

5,000

6,000

7,000

23/9/2005 9/10/2006 11/2/2008 11/5/2009 5/7/2010 16/8/2011


FTSE 100 - UK




COMMENT

FTSE 100 resembles to a significant extent the trading pattern of Dow Jones.

The index has recovered significantly since 2009. 4,500 established a strong

long-term support level.


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DAX - GERMANY

Period 2005 2011, Weekly Data

(Time period as day/month/year)

Source: VRS

3,000

5,000

7,000

9,000

23/9/2005 9/10/2006 11/2/2008 11/5/2009 5/7/2010 16/8/2011


DAX - GERMANY




COMMENT

DAX turned volatile in 2011 retreating from the levels it traded in 2010. 5,000

formed a strong long-term support level.


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CAC 40 - FRANCE Period 2005 2011, Weekly Data(Time period as day/month/year)

Source: VRS

2,000

4,000

6,000

23/9/2005 9/10/2006 11/2/2008 11/5/2009 5/7/2010 16/8/2011


CAC 40 - FRANCE




COMMENT

CAC 40 traded along the range 2,900 4,100 during 2011. By the end of the

year, the index consolidated its level towards the lows of the above range.


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GI - GREECE



Source: VRS

500.00

1,500.00

2,500.00

27/1/2009 7/9/09 6/4/2010 1/11/2010 23/5/2011 12/12/2011


GENERAL INDEX - GREECE




COMMENT

The Greek General Index is steadily declining since the mid 2009, breaking

downward strong support levels. Last support level was set at 600 points.


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Foreign Exchange Rates

Historical Graph Analysis

Period 2005 2011 ___________________


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USD per 1 EUR Period 2005 2011, Weekly Data(Time period as day/month/year)

Source: VRS

1.1000

1.2000

1.3000

1.4000

1.5000

1.6000

23/9/2005 1/6/2006 29/5/2007 3/6/2008 11/5/2009 22/3/2010 31/1/2011 28/11/2011

USDper1EURO


EUR / USD




COMMENT

Following its peak during 2008, EUR lost value against USD in the period 2009

2011 despite short-term cycles of upward movements. 1.20 USD formed a

strong long-term support level.


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JPY per 1 USD



Source: VRS

70.00

90.00

110.00

130.00

23/9/2005 1/6/2006 29/5/2007 3/6/2008 11/5/2009 22/3/2010 31/1/2011 28/11/2011

JPY

per

1USD


USD / JPY




COMMENT

USD lost more than 1/3 of its value against JPY during the past 5 years starting

from above 120 and dropping below 80 at the end of 2011.


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JPY per 1 EUR Period 2005 2011, Weekly Data(Time period as day/month/year)

Source: VRS

80.00

100.00

120.00

140.00

160.00

180.00

23/9/2005 1/6/2006 29/5/2007 3/6/2008 11/5/2009 22/3/2010 31/1/2011 28/11/2011

JPY

per

1EUR


EUR / JPY




COMMENT

EUR weakened against JPY during the period 2008 2011, starting from the

170 level and approaching the neighborhood of 100 at the end of 2011.


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USD per 1 GBP



Source: VRS

1.2000

1.4000

1.6000

1.8000

2.0000

2.2000

23/9/2005 1/6/2006 29/5/2007 3/6/2008 11/5/2009 22/3/2010 31/1/2011 28/11/2011

USDpe

r1GBP

TIME PERIOD Source: Valuation & Research Specialis ts (VRS)

GBP / USD




COMMENT

GBP traded within the 1.40 1.70 range against USD during the period 2010

2011. In the longer term, the trend remained downward.


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CHF per 1 EUR Period 2005 2011, Weekly Data(Time period as day/month/year)

Source: VRS

1.0000

1.2000

1.4000

1.6000

1.8000

23/9/2005 1/6/2006 29/5/2007 3/6/2008 11/5/2009 22/3/2010 31/1/2011 28/11/2011

CHFper1EUR


EUR / CHF




COMMENT

EUR weakened against CHF during the period 2008 2011, starting from the

1.65 level, dropping below 1.10, and finally approaching the neighborhood of

1.20 at the end of 2011.


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GBP per 1 EUR



Source: VRS

0.6000

0.7000

0.8000

0.9000

1.0000

23/9/2005 1/6/2006 29/5/2007 3/6/2008 11/5/2009 22/3/2010 31/1/2011 28/11/2011

GBPpe

r1EUR


EUR / GBP




COMMENT

During the period 2008 2011, EUR posted moderate gains against GBP,

starting from the 0.75 level and settling around the neighborhood of 0.85 at the

end of 2011. In the longer term, the trend remained upward.


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NOTES


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DISCLOSURE STATEMENT

VALUATION & RESEARCH SPECIALISTS (VRS) is an independent firmproviding advanced equity research, quality valuations and value-related advisoryservices to local and international business entities and / or communities. VRSservices include valuations of intangible assets, business enterprises, and fixedassets. VRSs focus business is in providing independent equity research to itsinstitutional and retail clients / subscribers.

VRS is not a brokerage firm and does not trade in securities of any kind. VRS isnot an investment bank and does not act as an underwriter for any type ofsecurities.

VRS accepts fees from the companies it covers and researches (the coveredcompanies), and from major financial institutions. The sole purpose of this policyis to defray the cost of researching small and medium capitalization stocks whichotherwise receive little research coverage. In this manner VRS can minimize feesto its clients / subscribers and thus broaden investors attention to the coveredcompanies.

VRS analysts are compensated on a per-company basis and not on the basis oftheir recommendations. Analysts are not allowed to solicit prospective coveredcompanies for research coverage by VRS and are not allowed to accept any feesor other consideration from the companies they cover for VRS. Analysts are alsonot allowed to trade in the shares, warrants, convertible securities, or options ofcompanies they cover for VRS.

Furthermore, VRS, its officers, and directors cannot trade in shares, warrants,convertible securities or options of any of the covered companies. VRS acceptspayment for research only in cash and will not accept payment in shares,warrants, convertible securities or options of covered companies by no means.

To ensure complete independence and editorial control over its research, VRSfollows certain business practices and compliance procedures, which are alsoapplied internationally. Among other things, fees from covered companies aredue and payable prior to the commencement of research and, as a contractualright, VRS retains complete editorial control over the research process and thefinal equity analysis report.

Information contained herein is based on data obtained from recognized statisticalservices, issue reports or communications, or other sources, believed to bereliable. However, such information has not been verified by VRS, and VRS doesnot make any representation as to its accuracy and completeness. Opinions,estimates, and statements nonfactual in nature expressed in its researchrepresent VRSs judgment as of the date of its reports, are subject to changewithout notice and are provided in good faith and without legal responsibility. Inaddition, there may be instances when fundamental, technical and quantitativeopinions, estimates, and statements may not be in concert. Neither the informationnor any opinion expressed shall constitute an offer to sell or a solicitation of anoffer to buy any shares, warrants, convertible securities or options of coveredcompanies by no means.

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