Market Analysis

The market has opened growth of the main quotation, the MICEX index rose by 0.5%, the basic blue chips within 1%, the external positive background, the U.S. indices in the black, oil near $ 67 a barrel. By the end of the day saw a small Drawdown, long the money in the market did not exist, fixing a small profit. MICEX index closed at 1,026.95 losing -0.43%, RTS index adding 3.76% 1012.62. Blue chips proseli to -0,5-1%, worse than the market looked like Gazprom (-2.67%), MMC (-2.39%), CMI (-4.11%), Novatek ( -1.26%), some stocks closed in positive zone: Lukoil added (0.22%), Rosneft (0,84%), Transneft (4.75%).

All week the market went up due to higher shares of steel companies, as well as oil and gas sector in the growing of oil. On average, the MICEX index rose 6% compared with the beginning of the week, with an increase in WTI crude oil grade by 5%. At the end of the week we saw a small correction after an extended growth, the participants began to record a profit.

Throughout the week there was a demand for shares InterRAO, Magnet (as a security tool), Coal Companies (after Putin's statements), steel company (expectations rising prices for steel in China, but also because the price of copper reached a maximum of nine). The market is not seen large sales or purchases, was seen a major seller of the shares of Gazprom, which has led to a drop in Friday at 2.66%. Also, sales of shares of Sberbank, after the Prime Putin demanded from the bank to maintain loss-making branches and provide credit at a rate no higher than 14% per annum.

More or less all the good reports from the United States raised the hope that the most urgent part of the crisis has passed. Statistics of the United States mixed, there is rising unemployment, increased housing sales in the secondary market, as well as good financial results of many American companies were better than expected (eg profit Caterpillar, three times higher than analysts' forecasts), Morgan Stanley and Wells Fargo broke a series of positive publications. During the week we saw several times the closing of short positions of the participants after the positive data. Also, the market supported the statement by Bernanke that the system will remain cheap money, and there is no need to tighten monetary policy.

Market participants expect oil to strengthen the 70 $. Authorize and appreciate the story;;

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