Europe

European markets are growing after the decisions of the ECB and the Bank of England to leave rates at current levels. European FTSE Eurotop 100 index of 1.11%, Britain's FTSE 100 1.56%, German Xetra Dax 0.82%, French Lyxor Cac 40 1.31%.

The Bank of England, as expected, kept the rate at the previous level of 0.5% and reported on the decision to increase the volume of purchases of debt assets to 175 billion pounds from 125 billion pounds. The decision of the regulator was a surprise for the market and caused a positive reaction. Analysts were expecting the end of the program on the background of the output of a number of positive macroeconomic data.

again the best performing stocks in the banks. Lloyds 8.4%, Royal Bank of Scotland 7.4%, Barclays 5.4%, HSBC 4.7%. The financial sector in the United States yesterday, has grown considerably, the largest insurer AIG shares soared 63% on expectations of positive reporting. The second-largest bank Commerzbank of Germany completed the II quarter of 2009 with losses of 763 million euros. Commerzbank was a loss for the fourth quarter in succession. In comparison with I quarter losses fell by 14%. Revenues in the II quarter has grown by 9% to 1.84 billion euros., Surpassing the 1.75 billion forecast in spite of the fact that reporting was better than forecasts, Commerzbank shares falling by 0.7%. Shares of mining companies falling on the background correction in the metals market. Antofagasta -3.6%, Eurasian Natural -2.3%, Rio Tinto -1.8%, Anglo American -1.7%.

Oil

Oil reached $ 75 on a background of reduction of petroleum products in the United States. Oil reserves in the United States for the week increased by 1.67 million barrels. and amounted to 349.5 million barrels. Expected to increase oil reserves by 600 thousand barrels. Commercial stocks of gasoline fell by 218 thousand barrels., Spirits at 1.14 million barrels. Predicted fall in gasoline stocks of 800 thousand barrels. and an increase in stocks of distillates to 1.23 million barrels.

Spot Brent $ 75.26, WTI $ 71.97. Futures falling by 0.1%.

Russia

The market opened with gepom up and in the early hours of trades increased more than 3%. Fixing the eve was too tight, the U.S. market played in the closure of the decline, and oil has updated Max. All this helped the market on the morning grow. But then on the background of growth in the dollar and negative dynamics of the American futures market closed the morning gap. After the promulgation of the Bank of England decision to increase the repurchase program of asset recovery in the markets recovered. At 16:20 Moscow time the MICEX index rising to 1.81%, RTS index decreases by 1.09%. Together with the significantly increased volatility, the MICEX stock market turnover of 62 billion rubles.

In Rostelekom favorites preferred shares 5.5%. Yesterday there were reports that consultants for the reform of Svyazinvest Morgan Stanley, Renaissance Capital, VTB Capital and McKinsey propose to merge all the daughters of one company Svyazinvest Rostelekom by converting the shares into shares of subsidiaries Rostelekom. Better the market shares of the Savings Bank 4.1% growth against the backdrop of thebanks in the U.S. and Europe. Growing oil and gas sector, 3.2%, Transneft, Gazprom 2.3%, 1.8% Rosneft, Lukoil 0.7%. Ongoing correction in the metallurgical sector, which prior prosel most. SeverStal -1.8% -1.5% MMK, NLMK -1.3%. Better situation in Norilsk Nickel, which is growing at 3.4%.

Outlook

At 16:30 in the United States will be data on the number of applications for unemployment benefits. Also at 16:30 the head of the ECB Jean-Claude Trichet will comment on the decision of the ECB.

Movement for pair euro /dollar is traditionally activated after Trichet's comments. Therefore, the activity likely will increase, and look forward to opening in the United States, the direction of which is extremely difficult to predict.

From the technical point of view, the market is trying to gain a higher level of support for 1080 points, the goal remains the maximum level of the year 1200 points to an index of MICEX.

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Ukololi - and went!

In the morning at the opening of the domestic sites external background was diverse. The U.S. leading indexes finished trading day in negative territory at the half on average. But in Asia, the mood was more optimistic: NIKKEI 1,32%, KOSPI 0,36%, Hang Seng 1,97%, подпортил picture only Chinese CSI200, prosevshi at 1.83%.

With respect to our site, then in the morning saw strong growth across the whole spectrum of liquid securities. Sberbank led the list of leaders, neftyanka moved slightly off. A substantial contribution to the dynamics of this morning had the oil injection, world commodity prices were at 76 dollars per barrel - Ukololi - and went. To date, excitement in the market shares of sleep, quotes retreated from early morning highs, and started to descend. Individual instruments able to save the white candles: NorNikel 2.93% Gazpromneft 1,99%, other near opening levels topchutsya: Sberbank 2,62%, Rosneft 1,00%, while the ranks of erubescent slowly but surely filled up: LUKOIL -0.18% Surgutneftegaz -0.08% -0.48% VTB.

futures on the RTS and MICEX indexes continue to indicate negative expectations - base grows. Bekvordatsiya on the RTS and MICEX is 11 and Clause 4, respectively.

External background is still moderately positive, but the clouds are gathering. In Europe, the easy optimism persists - indices are in the black at an average rate of interest, futures on U.S. indexes still being held alive in one-tenth percent. In the market of black gold quotes go below the start of the day. Brent went from 76 dollars per barrel and traded at U.S. $ 75 As is known, often we blindly follow the raw material, which once again confirms the trend of today. The mood of investors in the hands of the comments from the ECB and the Bank of England, where the meeting is about to take place. In addition, we expect data from the labor market for the United States. I think out of negative news will increase pressure on investors, and quite possibly the beginning of a long-awaited corrective movement.

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Gazprom increases the expectations

Against the backdrop of oil prices as early as noon the MICEX index rose by 3.24%, reaching the level of section 1119.27 positive outlook on the prospects of the business editions of today's Russian-Turkish talks in Ankara on access to Turkish territorial waters of the project pipeline South Stream ( South Stream), provided the shares of Gazprom's increase of 2.58%. South Stream, reducing the dependence of suppliers and recipients of gas from the transit, will deliver up to 35% of the volume of Russian gas supplies to Europe - from Novorossiysk through the Bulgarian Varna two branches in Italy and Austria. It is expected that within a few hours of signing a protocol on cooperation in gas sphere, with the documents, in addition to the construction transchernomorskogo the pipeline Southern stream, cover, and the project Blue Stream-2. Partner of Gazprom in gas project will be of Italian oil company Eni. Foreign investors are closely watching the developments: if South Stream will be released at the start, the position of Gazprom strengthened, and a project to build a gas pipeline Nabucco (from Turkey to Europe, bypassing Russia) lost some appeal.

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Attempting podrasti in the Russian market yesterday did not receive successful: in the course of the day quotes on most liquid shares of the younger, but after the opening of U.S. trading session of a negative impact on the dynamics of the market has had a decline in futures on the SP500. Statistics for the market decline in the index showed business activity in the ISM non-productive sector in the United States to 46.4, while the experts had expected growth to 48. However, factory orders in the United States increased by 0.4%, against expectations, to reduce by 1%. Worse market traded securities of energy sector, better market - financial. At the end of the trading Dow Jones index fell by 0.42%, S P500 - at 0.29%, NASDAQ - at 0.9%. Outside the background at the opening of the Russian market positively. Japanese Nikkei rising to 1.32%. Chinese Shanghai Composite traded lower by 1.37%. Oil brand Brent traded close to the mark of $ 75.3. Futures on the U.S. S P500 traded near the level of closure.

Today, we expect to see the opening of the Russian market with gepom in up to 2%. Growth in oil support the paper quotes the energy sector. Paper banks will look better than the market against the backdrop of the ruble. Today, as volatility in the market will be large, and the final motion vector is determined by the markets only after the statistics on the number of applications for unemployment benefits in the United States at 16:30. At the end of trading session of the bidders, as well as yesterday, may increase the desire to capture profits, especially in case of negative data on unemployment in the United States.

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