Tenders were opened on Wednesday unexpectedly sharp decline in quotes for a moderately negative dynamics of futures for U.S. indices, Asian markets and oil prices. Perhaps the effect that Russia's major indexes had already fallen at the opening below 1000 points. MICEX index down when you open up to 980 points, but soon went up on the background of the positive opening of European markets.

As of 15:40 MICEX index losing 1.2% and is at the level of 990 points, while European indexes grow by an average of 1.5%.

The main reason for today's decline in favor of traders attention to the situation in the oil market: WTI quotes now losing more than 2% and fell below 66 dollars a barrel. Careful attention to the oil market linked to fears that the recovery, which is observed in the previous two weeks, was by and large bubble, swell in the background of the growth of stock markets, and not confirmed by the growth of real demand for energy. An additional concern caused yesterday's record API, which was marked by the growth of oil reserves at 4.1 million barrels. Today the market is waiting for release of official EIA data on stocks.

One has the feeling that the markets began to fizzle out after the rally, and records of corporations now diluted disturbing notes. An additional concern is the extent of planned for this week placements UST (scheduled to attract over 200 billion dollars), which can cause growth in their profitability. U.S. market under such conditions in the coming days is likely to be stagnant, but the Russian market is likely to lose 2-5%, if the EIA report does not relieve the tension on the oil market. At the sharp direction of movement of quotations in the U.S. before the end of the week we did not expect, because the major players are likely to wait for a first assessment of the U.S. GDP for the II quarter of 2009, which will be released on Friday.

Correction on the Russian market continues, the shares of Gazprom and Lukoil have achieved favorable levels for purchase
By the end of trading session, most likely stabilizing the MICEX index in the range of 990-1000 points
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After the morning market decline stopped in anticipation of reports of American companies and macroeconomic data from the United States