In the Russian market on Friday maintained negative sentiment that arose on Thursday after poor statistics on the labor market in the United States and Europe. The volume of trades and market volatility was fairly low due to the output in the United States.
Particularly strong reduction of quotations was observed in the power, but a possible reason for this could be just lack of liquidity in those days. Also, it is likely that some investors decided to withdraw the cache at the end of the second quarter.
Fortunately, the market is still the oasis of growth - a very positive look on Friday sector steel companies. Perhaps the increase is attributable to the increase on Thursday the recommendations of the sector by several American Investbank. It is also possible that already were known performance of major companies for the 2 nd quarter (or speculators have decided to make a bet that they will be better than expected?).
In general, we believe that on Monday the Russian market still remains at the mercy of the bears - at least until the middle of the day, because once again raised concerns about the prolonged recession in the United States and Europe can not be reverse for one or two trading sessions. At the same time there is a sense that the bank shares have already been some demand - may be that many players are willing to rebuild long positions in shares of Sberbank and VTB after substantial correction from the May highs.
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