Market Analysis

The disappointing banking statistics became an occasion to record profits in the States, but was unable to start full-scale correction. Prevailing in the market optimistic about the recovery of world economy draws strength coming in from all over the world statistics and positive rhetoric representatives of monetary authorities. Key Asian indices are growing today in the morning by more than 1%, as oil firm holds positions in the region of $ 67.5. Domestic indices after yesterday's wave of fixed income stoivshey of more than 2%, today, is likely to be able to play yesterday's fall and once again try to test the line in the 1000 section on MICEX.

The weakness in the financial and oil sectors ended the rally in U.S. stock markets. Stocks showed mixed trends, and ultimately decrease the index Dow closed at 0.39%, while the index lost 0.05 SP. In the first place pressure on the financial sector has had a surprisingly weak accountability Morgan Stanley, which on the basis of the second quarter recorded a loss of $ 1.37 per share, as a result of losses on credit spreads, as well as payment of TARP. Reporting Wells Fargo also brought disappointment: despite profit surpassed projections, bank losses on loans amounted to $ 23.5 billion Reporting Pfizer and Boeing have coincided with forecasts and did not have a strong impact on the market. However, 15% jump in profits Apple has given a strong impetus to growth technology segment, which allowed high-rise on the NASDAQ 0.53%. Today the report will be: 3M Company, Amazon.com Inc., American Express Company, AT T, Ford Motor, McDonald s Corporation Company, Microsoft, US Airways, Credit Suisse Group.

Of the macroeconomic news is to provide statistics on the prices of housing in the United States, which rose in May to 0.9% in April, which may indicate a gradual restoration of demand in the troubled real estate sector.

Tenders in Asia, despite the decline in the United States, held in a positive manner. Optimism remains, not least due to macro came, testifying to the slow pace of reduction in Japan's exports, as well as expectations of impressive quarterly growth in South Korea.

It seems that yesterday's fixing of profit withdrew a strain on the American market, opening the way for him to grow in the remaining two trading days. Expressed in the recent assurances by the representatives of monetary authorities and politicians from all over the world, are that the acute phase of the crisis in the global economy overcome, but to safeguard the economic growth required massive liquidity cushion. Indeed, expectations of preservation of ultra-soft monetary policy for an extended period of time and are a major factor, which should ensure the growth of world stock indexes over the medium term. However, already at the site next week, the stock could face a new wave of fixed income investors to push that can shed initial proposal treasuries, amounting to $ 90 billion, which is a serious liquidity bind.

Domestic Indexes today, is likely to be able to compensate for the loss of yesterday's trading day. MICEX index could test the line in section 1000 and the growth may continue tomorrow. Among the potential leaders of growth is to provide the paper commodity companies: Lukoil, Rosneft, Surgutneftegaz.

rally may resume in the metallurgical sector: the demand for raw materials from China promotes the process of renewal of contracts for steel led to a revision in prices, pushing them up. In addition, tomorrow will be a meeting of metallurgists in the government, which including the bankers to take part. It is possible that in his results, the industry will get financial infusions.

Also, demand may go back to the paper by Sberbank and VTB. The Government continues to insist on increased lending, but requires banks to increase loan portfolios at any price, knowing that risk management is no less important. The bankers, in turn, are ready to expand lending, but require a reduction in rates. As a result, banks are likely to increase credit limits for big business and reduce rates, which would interrupt the negative trend of the assets in the sector. Sberbank, by the way, is already underway to reduce rates by 0.5% points. Also, the Bank reported yesterday on the basis of semester: surprises statements are made, but despite the high charges to the reserve bank has been able to earn 5.3 billion USD.

Forex - results of day
Level of support for the index of the MICEX today by the levels of 980 and 950 points
Paper metallurgists will grow in anticipation of possible actions of state that may follow from the Prime Minister
Today, better market share will be traded oil and gas companies, and metallurgist
Futures on the S P500 again in green, you can count on the resumption of purchases and the domestic market shares
Bases major futures on the basis of the evening session remained in positive zone
Against the background of the negative dynamics of the banking sector in the United States, may be worse than the market shares of Sberbank and VTB
Bidders short-term market quite aggressively closed position at all liquid Futures
The opening bid on the Russian stock market is expected to break up 0,5-1%

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