Yesterday

Russia's stock market has been the third straight session, closing lower. As a result of trades on the MICEX index fell 1,79% - to 1080.05 points and the RTS index - on 0,15% to 1,070.49 points. The level of resistance in the vicinity of 1130 points on the MICEX remains untouched. As a result of yesterday's auction, we see that the selling pressure gradually increases. In conjunction with the fall in oil prices to near the minimum marks of August, as well as the consolidation of the indexes on the American exchanges Russia's market this could threaten the continuation of a downward movement.

Data on unemployment and GDP the U.S. were better than expected, but the positive reaction of the market quickly dried up. Activity of bears on domestic exchanges has increased along with the opening of trading in the U.S..

U.S. Market

Trades in the U.S. on Thursday resulted in the growth of stock indices on the background of low trading volumes. The Dow Jones rose 8 th session in a row. This is the longest period of uninterrupted growth in the index since April 2007. The main volume on the NYSE continues natorgovyvat on known successful companies - the ridge of the American economy: Citigroup inc., Fannie May, Freddie Mac, Bank of America.

From the first minutes of trading leading indicators of U.S. stock market began a sheer drop, despite the encouraging data on U.S. gross domestic product in II quarter. The fall ended at 1,015 points on the SP 500 index, which launched a massive closing of short positions that brought the American indexes in a light plus.

In recent years the stock market rather peculiar reaction to the positive macroeconomic news. If more recently they have caused the rapid growth of indexes, it is sometimes quite opposite results. This is due to the fact that signs of improvement in the economy may give the Fed an opportunity to move to tighten monetary policy to prevent inflation spiral, which, according to experts, undoubtedly happen in connection with massive infusions of money into the economy in crisis. Thus, improvements in macroeconomic performance increases the likelihood of higher interest rates, and this may cause rollback indices.

Oil

Oil prices on Thursday closed a little grown up on rising stock market and the weakening U.S. dollar.

At the end of trading on the New York Mercantile Exchange front-month October futures for light sweet crude rose 1.06 dollars, or 1.5%, to 72.49 dollars per barrel. Quotations of futures for Brent crude on the ICE rose 86 cents to 71.65 dollars per barrel.

Asia

Asian stock sites are now showing the growth of major indices due to the positive statements Dell and the outcome of trades in the U.S., where the Dow Jones index rose 8 th session in a row. Also, the optimism of players affected the yen, which is slightly weaker against the U.S. dollar. Stand out of the speakers, only China, where the Shanghai stock exchange recorded a strong drop in quotations.

Against this backdrop, the Japanese Nikkei adds a little more than 0,3%, the index of wide market Topix - 0,4%. Korean Kospi reduced by 0,3%. Chinese CSI 300 INDEX fell more than 3%.

Today

External background before opening the bidding in Russia - a moderately positive:

• American indices closed in positive territory;

• Quotations consolidated WTI crude is above $ 72;

• Futures on U.S. indexes are traded in small minus;

• Asian sites demonstrate raznopravlennuyu dynamics.

Based on the above factors, we expect the opening of trading small gepom up. Bulls for the past month, you can not take the mark of 1,130 points, the MICEX Index, which indicates that increased sales at strong levels of resistance. The market has already fed up good news, as evidenced by the reaction to positive data on GDP in the U.S., after which U.S. indexes fell more than 1%.

In the current situation, we continue to recommend investors to be prudent with purchases, as not exclude a strong downward correction in the near future, which can occur suddenly in the background of the deteriorating macroeconomic situation.

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