The index of the Frankfurt Stock Exchange Xetra DAX rose 11.34 points (0.22%) and is at the level of 5258.62. The index of London Stock Exchange FTSE 100 rose 27.91 points (0.61%) and is at the level of 4587.71. The index of the Paris stock exchange CAC 40 rose by 9.76 points (0.29%) and is at the level of 3383.48. September futures on the index S & P 500 (SP 500) on the Globex rose by 2.3 point at 971.2. Opening of the American stock index today is expected to top.

pound /dollar fell tothe European session, up to 1.6410, which is 130 points below the current maximum. Rate euro /pound rose 100 points to 0.8672. The negative impact on the pound had the data in the UK, the index of the GDP for the second quarter was far below the projected level.

Preliminary index of gross domestic product (GDP) in the UK for the second quarter of 2009 was -0.8% for the quarter, -5.6% for the year (forecast was -0.3% for the quarter, -5.2% for the year previous -- 2.4% for the quarter, -4.9% for the year).

At the same time, the euro /dollar has risen by 60 points to 1.4251. Support for the euro provided evidence of an increase in business activity in the European region. The index of business activity of the Institute of German IFO (Business climate index) in West Germany for the month of July amounted to 87.3 (forecast was 86.6, the previous value of 85.9).

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little setback on the market after yesterday's shot the top, followed by waiting for the continuation of the recovery

After yesterday's rapid carry the top Russian stock market is trying to stay on the achieved levels. Doubters to continue to rally in equity markets and a short-term speculators record profits, which leads to the Drawdown stock quotes. Most of the local blue chips are currently trading down on yesterday's closing levels. This Gazprom (-1%) and MMC Nornikel (-1%), with Severstal (-2%). Growth continues until shares Surgutneftegaz and MTS, added more than 2%, as well as securities Uralkaliy (6%). On the evening of the initiatives announced yesterday by the Government of the Russian Federation on the reform of taxation of the coal industry continues to grow Raspadskiy shares and Belon.

In general, a small roll back on the market after the passage of significant levels of resistance and test these levels on the strength already in support of a routine. Therefore, we do not see anything terrible that quotes the most liquid securities are reduced today to a maximum of the last 3 days. This reduction is not advisable to use despite everything yesterday to buy the investors to build long positions. Is likely that by the evening of the Russian stock market could continue to rise. All the more so that the external background significantly improved compared with the opening of the tenders.

S P500 futures and European stock indices instead of declining by 0.5% is already showing very strong growth. Animportant contribution to maintaining optimism in the stock pads made statistics from Europe - and the indices of procurement managers in the euro, and the index of business climate in Germany of IFO were better than expectations, confirming the positive developments in the region's economy in recent times. At 18.00 Moscow time to release a revised value of the Index from the University of Michigan consumer confidence for July. It is expected to be adjusted for the better (up to 65 points). Recall that the prior value of this index, published on 10 July, it was lower than the June results, which added to the negative stock market 2 weeks ago.

We look up the market and expect to climb higher in coming days. A guide to the 1080 mark favor the recovery of items on the MICEX index. First and foremost, we recommend that you pay attention to shares of oil companies and banks. By industry, which in recent days were better than the market, we are waiting for a fixed profit after meeting Putin in the industry. Under pressure, is likely to be, and after Gazprom announced by the Ministry of Finance plans to increase NDPI and export duties on natural gas next year - forced the measure to reduce the budget deficit country in crisis.

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RTS by 11:00 Moscow time increased by 2.68% and recovered, thus at level 1 002.16 Fri. Indicator RTS-2 to that date amounted to 851.37 point, which corresponded to 0.41% growth during the first half-hour auction.

Against the backdrop of renewed today in the Asian session, rising oil prices led to increasing the RTS stock exchange were shares of companies of Russian fuel and energy complex, first of all - Gazprom and Rosneft. The Bureau of the Russian government at yesterday's meeting approved the introduction of tax holidays in the oil fields, located wholly or partly in the waters of Black Sea and Sea of Okhotsk. The total effect of the tax savings could exceed $ 10 billion in the most affected the decision of Cabinet of Ministers of Russia it will affect the above-mentioned companies.

In addition, a fairly active buying this morning, there were shares in the Savings Bank of Russia and VTB. It appears that this situation reflects a decline in medium-market fears concerning the evolution of Russia, the world economy, reduce its impact on the performance factor of weakening credit markets. Obvious outsiders bidding on the RTS Stock Exchange this morning was not.

fell slightly on Friday on the activity of purchasing shares in the segment of metallurgy and mining. In anticipation of the publication of the outcome of today's meeting of representatives of the industry to head the Russian government Vladimir Putin, the investors could increase sales on the fact of the event. In general, the likelihood of continuing growth in prices of Russian stock market in the world trend in the coming weeks to be relatively high. While in the short term can not be ruled out reducing the technical correction in prices in the sector of investment.

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