Europe

European markets in positive territory, opening it at higher levels. Pan-European FTSE Eurotop 100 index increased by 0.46%, Britain's FTSE 100 by 0.4%, the German Xetra Dax at 0.66%, French Lyxor Cac 40 at 0.45%.

market support have statements of head FRS the USA. During his speech at the annual symposium of representatives of the Federal Reserve Banks, Ben Bernanke said the U.S. economy is close to the long-awaited recovery from severe recession, economic activity is restored. Nevertheless, he warned that consumers and businesses continue to face enormous difficulties in obtaining loans. Restore confidence in the nearest exit from the crisis and helped the Friday data from the U.S. housing market. Not bad statistics released today and in the euro area. The volume of industrial orders in the euro area in June rose by 3.1% annualized rate decreased to 25.1%. data still were better than forecasts. Expected growth for the month by 1.5%, lower for the year by 28.9%. The leaders advocate increasing shares of steel companies, metals again gets published. Eurasian Natural 4.2%, Xstrata 3.7%, Rio Tinto 3.5%, Anglo American 2.8%, Salzgitter 1.9%.

Oil

optimistic expectations about the future of the world economy and the pace of its recovery, erupted with renewed force after the data from the U.S., supported by oil quotations. Spot Brent $ 73.56, WTI $ 73.29. Futures in the neutral zone.

Russia

The market opened higher, but the continuation of rapid growth followed. Positive from the U.S., we have already played on Friday night, there was a desire to take profits. MICEX even left in a minus, then returned to zero. At 15:20 Moscow time the MICEX index rising by 0.25%, RTS index has increased to 2.55%. Trading volume on the MICEX stock market 32 billion rubles., Slightly below average.

According to media reports, Russia's automobile association planned AvtoVAZ and KAMAZ. This will create a holding company that will be transferred to belong Rostekhnologii 25% stake in AvtoVAZ, KAMAZ 37.8% and 30% of engine manufacturers Avtodizel. AvtoVAZ shares soared 22%, KAMAZ 14%. In the most liquid securities mostly close to neutral dynamics. Gazprom 0.4% -0.1% Lukoil, Surgutneftegaz 0.9%. Prime Minister Vladimir Putin demanded the speedy enactment of legislation for zero customs rate for theexport of oil from individual fields in Eastern Siberia. The greatest advantage of these benefits should receive Rosneft, which began oil production at one of the largest in Russia Vankor field. Rosneft's shares 0.3% news played on Friday, adding 7%. Steel sector lags behind the European sites, where the mining shares rising by 3%. Severstal 2.9%, 1.2% of NLMK, MMK 0.5%, MMC Norilsk Nickel -0.2%.

Outlook

important data today are not, so we will wait for the opening of the market in the United States. The sharp rise on Friday by the closure has allowed the market to gain a foothold above the psychologically important mark of 1100 points on the MICEX index. Now try to surpass 1,130 points.

This week goes a lot of important data in the United States, in particular the refined estimate of GDP for the II quarter and sales in the primary U.S. housing market. If statistics please the markets, the upgrade of the maxima at the level of 1200 points will be possible at the end of the week. The main impetus to growth, on Friday became the statistics with the real estate market, sales in the secondary market rose to its highest level in 2 years with a monthly increase of 7.2% was the biggest in 10 years. Given the fact that the global financial crisis began with the collapse of the real estate market in the U.S., investors viewed the data as a sign of economic recovery. However, it seems to me rather strange that reaction, because data on the number of bookmarks of new homes and building permits, which came out earlier last week, tested negative. On Wednesday released statistics on sales in the primary market, which will confirm or refute expectations of a speedy recovery in the industry. Speculators, I recommend playing on purchases, not forgetting to record profits, the medium-term investors should record profits on individual items.

Recommendations for market shares: LUKoil, Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank
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