Market Analysis

Yesterday, after a neutral start divergent main Russian indexes fell moderately at closing (RTS index - minus 21.22%, the index of MICEX - minus 2.41%). Dramatically decreased the activity of trades. As part of the forecast - a range of intraday fluctuations in the major indexes. Investors took a pause after a very volatile first half of the trading week. Intermodal drivers are also not allowed outside of certain signals to select destinations. The positive dynamics of world oil prices, exclusively due to militant attacks in Nigeria, but the expectation of a weak opening of Wall Street and the negative dynamics of the European sites. The above market expectations of weekly unemployment figures in the U.S. increased at deeply negative territory for the major U.S. futures indices, thereby increasing profits and a record after yesterday's speculative surge in Russia. The relatively smooth reduction in sectors with a slight predominance in the reduction of certain blue chips - the leaders of the growth medium (Gazprom - minus 4.21%, Lukoil - minus 1.42%, Nornikel - minus 2.9%, Sberbank - minus 2.93%, Rosneft - minus 1.87%, Surgutneftegaz - 3.28%, VTB - 0.57%). In general, the formation of a range of consolidation after the tumultuous dynamics of the beginning of the week.

Today morning mostly positive external background implies a positive momentum in the opening and the main Russian indexes. After a very poor start - steady growth in the closure of major U.S. indexes (DJI - 2.08%, NASDAQ - 2.08%, S P500 - 2.14%). In the best performing stocks were retailers and developers after the building company Lennar noted an increase in orders and sales of new homes (the company showed losses according to the latest quarterly reporting). Against the backdrop of growth in world oil prices caused by militant attacks Nigeria, positive dynamics of shares accompanied the energy sector. The index of the largest oil companies has increased as a result of trades at 1.7%. Mixed dynamics - in the financial sector, despite the favorable report of Chapter U.S. Fed Ben Bernanke to Congress on the details of the deal Bank of America and Merrill Lynch. At the end of the day, shares of Citigroup fell by 0.33%, JPMorgan shares rose by 2.03%, shares of Bank of America has not changed. Out of USA Today will be interesting for the May data on income and expenditure and consumption index. Also, do not remain without attention and a final index of consumer confidence from the University of Michigan. The negative dynamics of futures on major U.S. indices could reduce the effect of growth on Wall Street for the Russian stock market.

growth, supported by positive dynamics of world prices for oil, base and precious metals, the positive dynamics of America - in the stock markets of Latin America (Mexico - 2.25% -3.71% Brazil, Argentina - 2.27%). Lateral dynamics - in Asia (Japan - 0.83% Korea - 0.14% China - 0.14%, Taiwan - 0.09%).

growth provoked by militant attacks in Nigeria and a small weakening of the dollar and the euro - on the world oil market yesterday, lateral dynamics at the auctions in Asia today. August futures price of oil brand Brent on the results of yesterday's auction rose by 1.45 dollars to 69.78. In Asia, prices rose by 0.38 dollars.

modest positive trend - in the market of the major base metals. As a result of yesterday's auction at the LME, three-month futures price of nickel rose by 0.48%, copper - at 0.89%, and zinc - to 1.37%, lead - to 1.23%.

hybrid dynamics - in the ADRs of Russian oil and gas stocks in the U.S., but a small positive discount, reflecting the growth in world oil prices, relative to the closing prices of shares on the RTS on 25 June: Gazprom - 1.77%, Lukoil - 0.7% , Surgutneftegaz - 1%.

The Russian stock market is expected a positive opening on the background of the major indices this morning favorable external environment. But activity is expected to bid low. Advance of the weekend will not be encouraged to actively shopping for a lack of major drivers of growth. The dynamics of the world's major stock and commodity platforms will form the closure of Russia's most liquid securities. The range of fluctuation of today will remain in the forecast the day before, on an index MICEX - 1015-950 points. In general, today the Russian stock market has a chance to close in positive territory, but a whole week's loss unlikely to play. The prospect of the next time - year consolidation in the range 1100-800 points.

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Russian indices will gradually decline in anticipation of the opening session in the United States
Index MICEX today will be in the range of 950-980 points
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Trades in the United States on Thursday, June 25, closed a significant increase in the indices

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