Last week Russia"s indices under the influence of sentiment on world markets have lost more than 6%, returning to levels last December, and only yesterday the decline was about 2% (RTS almost 3%). They sold blue chips, the largest decline was observed in Rosneft (-5%), quotes, Lukoil and Surgutneftegaz fell slightly smaller - on 2,1-2,5%, and banks suffered.

Shopping prevailed only among the less liquid securities, in particular in the energy sector. IDC grow thanks to the Government of Russia approved the schedule for completion of transition to a new system of tariff regulation by January 1, 2011, stood MRSC North-West (7%), North Caucasus (5%), grew up as IDC Center, Center and Volga Region, IDC Holding, the rest segment of the company in a small minus.

European shares declined almost the whole day, but for a few hours before the end of the trading session, managed to escape beyond the levels of previous day"s close. The reason for the change of directions served as the statistics from the U.S. consumer confidence in the economy had at its highest level since September 20081000As a result, Dow Jones Euro Stoxx added 0.7%, while growth with lows of the day amounted to 1,2%. Among the leaders of the growth of Siemens, published quarterly results.

Meanwhile, data on trust and good quarterly reports failed to keep U.S. indexes from falling into the last hours of trading. The reason for the decrease was non-public information about the content of the proposals of the U.S. government to limit bank deytelnosti on stock markets. Today the Fed concludes a two-day session, but market participants do not expect any significant news in perdverii discuss the re-election chapter Fed for another term. Dow Jones eventually fell by 0,03% (Leader of the fall - JP Morgan), SP at 0,4%, Nasdaq on 0,3%, while in the session they were growing up within a percent.

But, perhaps, one of the most talked about news corporations in recent days - beginning of trades in shares of one of the leaders of the global aluminum industry, Russia"s Rusal, after the recent IPO. The global environment in the metals market, negative sentiment spoiled giant first day of trading: its shares have collapsed by 8% from 10.8 to 9.94 Hong Kong dollar, despite a moratorium on the sale of shares imposed on the largest contributors to IPO. Today will begin trading GDR Rusal and in Europe, and sales in this paper will put pressure on other Russian metallurgists, who were in demand during the period of placement.

signals the opening of trading in stocks RF contradictory. Quotes ADR on shares of Lukoil and Gazprom have declined, and Norilsk Nickel "Surgut" - grew. Results "premarketa" on the main "chips" are generally positive, indicate, in particular, on strong growth in the Savings Bank. Strengthened the dollar earlier in the auction today weakened against the ruble. We believe in a whole day will be neutral.

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Results of previous day

On Tuesday, Russia"s stock market has almost completely wiped out all the achievements since the end of the previous year.

RTS index fell 2.8% to 1444.33 points, indexes MICEX and RTS Standard-at 2.24% and 2.19% to 9620.86 and 1384.79 points respectively. Trading volumes have grown slightly.

Hopes for the maintaining of a technical rebound up to the evaluation meeting of the Fed and the expected publication of strong data on U.S. GDP for the IV quarter on Tuesday were not justified. The outcome of the day was a foregone conclusion in the first minutes of trading, when you awake "Bears" fairly confidently pushed through the market below the level of 1400 points on the MICEX index, forcing the closing "bulls" which became an instant unprofitable speculative positions at any price. The reason for such a drastic change in the situation in the steel market news from China, which became incarnate in the life of the recently imposed by the People"s Bank of China"s requirements for commercial banks to raise deposit reserve standards. In addition, it was learned that two banks in the country, Industrial and Commercial Bank of China and China Citic Bank, was ordered to raise the allowance for the additional 0.5% because of excessive lending. Also there were speculation that, in general throughout the system after it has for the first 19 days of January were given loans of 1.5 trillion. yuan (absolute record), was forbidden to issue new loans.

Fears that carry out similar measures by the Chinese regulator will continue, causing serious engine cooling global economy have been strengthened not justified forecasts GDP data in South Korea and a decrease in agency Standard Poor"s forecast of a sovereign rating in Japan, returned to the markets of the desire to rid themselves from excessive risks. Not aficionados published after the completion of trades in the U.S. are not bad quarterly reports from Amgen, Apple and Texas Instruments.

Repeated treatment below 1400 points on the MICEX on Tuesday morning after touching the upper border formed by t1000he middle of last week, short-term trend downwards this time was the signal for a more decisive postnovogodnego fill the "gap". The whole question is only when this happens. Taking into account the angle downward trend, which gave the rhythm hit sales, "suffering" bulls were programmed sensitive. Left worse than forecasts for UK GDP data for the IV quarter (0.1% /K with the expectations of 0.4% /K) only added a new salt on their open wounds. Only after reaching 1370 points, the closing level of the previous year, market participants are playing down the desire to take profits on their short positions, thereby reducing the losses on the most liquid securities to a more tolerable values.

pushed them to make this decision and improve the situation on foreign markets. Initially, a fairly good reports were submitted Corning, Johnson Johnson and DuPont, later turned out to be above projections published by the index of consumer confidence from the Conference board (55.9 § 53.5 against expectations of a paragraph), which gave a positive impetus to open a tender on Wall Street.

News from China in the first place a negative impact on shares of commodity market trends of Russia: Steel (Micex MM -2.5%) and energy (Micex OG -2.53%) sectors of the market. In the latter situation exacerbated proposals Finance Minister Alexei Kudrin, Russia to cancel the zero export taxes on production in East Siberia oil. The introduction of this fee at the time was the driver to raise the capitalization focused on this region of Rosneft, so it"s not surprising that such a message has contributed leadership with a negative sign of its shares, cheapened at 5.17%, on past auctions.

not directly depend on the situation on the commodity markets, market segments: telecommunications (Micex TLC -1.18%), energy (Micex PWR -0.75%) and financial (Micex FNL -1.55%) demonstrated the dynamics of the market better. Ordinary shares of Sberbank (-2.53%) "paid" for its increasing exchange value of the previous day.

look at today"s market

On Wednesday, Russia"s stock market is likely to proceed in a more peaceful direction. After touching a day earlier to 1,370 points on the MICEX and the New Year fill the gap, "bears" can restrain their appetites and let the market play a Technical signals indicating an excess of recent sales. In the early days after opening with a small gap down about 0.25% residual possible sale, which is not impossible that they could reach the minimum marks of the previous day, but in the future sorts itself out and, most likely, the day will be observed multidirectional vibrations near the neutral point.

peculiar tug of war between bears and bulls will be a consequence of the lack of obvious advantages to one party or another. Published on the eve of the evening strong data on consumer confidence from the Conference board, coupled with some fairly good quarterly reports were insufficient to keep the American stock market in positive territory (SP 500 -0.42%). Spread the market by the end of the trading session contributed increased speculation that the outcome of the ongoing meeting of the Fed FOMC, the regulator will signal a more briskly embodiment of plans for the removal of additional programs to support the economy. After completion of trades reported back in the forecast the company Yahoo, which did not give significant impetus to the growth of futures for U.S. indices in Wednesday morning (SP 500 0.09%).

In Asia, where there are fresh fears that the People"s Bank of China will continue to tighten monetary policy, preference are still selling: Shanghai composite -0.47%, Nikkei 225 -0.71%, Hang Seng 0.29%.1000Restoring annualized rate of Japanese exports (12.1% y /y against expectations of 8.6% y /y), together with the ongoing withdrawal from risky assets has strengthened the Japanese yen against the U.S. dollar (USD /JPY 89.25), which also affects the market sentiment . The market of oil (WTI 74.76/barr.) After the "bull" of data on stocks of the API, the situation remains stable.

In addition to a morning of reflection deteriorated over the night external background pressure would in the beginning of trading and the impact of lower cost of UC Rusal shares on the Hong Kong Stock Exchange in steel stocks. However, in the future can be expected to stabilize the situation. Expectations of a favorable sales data in the primary housing market (18-00) and the outcome of the Fed meeting (22-15), many speculative sentiment forced to close existing short positions, and all others - to wait. Happy volatility will bring reports from Caterpillar, Conoco Philips, The Boeing Company Abbott, SAP, General Dynamics and WellPoint Inc. Also today, the annual report on the political and economic situation in the country will address the U.S. president, Barack Obama, where he will disclose plans to provide tax breaks for companies hiring additional staff. Today"s resistance may raise the upper limit of short-term downward trend, located at 1400 points on the MICEX, the support - the level in 1370 items. On the recovery of non-speculative long positions may be to think in excess of 1425 points, up to this point is better to look for the opening moments of "short" positions or remain outside the market.

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