In anticipation of U.S. corporate reporting season, Russia's stock market highs year rewrites

Today, as we expected, Russia's stock market continued its recovery and was able to update the maximum of the current year on MICEX. The RTS index corresponding achievement was recorded yesterday evening. Optimism among investors grows stronger. In addition to the shares of Gazprom Neft and VTB, had pushed for more neprotorgovannye this year's price levels, the corresponding gains showed prefecture and Rostelecom, Surgutneftegaz, Rosneft and paper. Sobstevenno, these papers deserve at this time of increased investor attention, because access to new highs after a long consolidation promises a strong movement upward. In the second echelon of the increased interest of developers continue to cause shares (PIK, Sistema-Hals, LSR), which added more than 5% against the incipient recovery in the market for residential properties, as well as the willingness of banks to lend to the industry. In general, the refinance share of companies in various sectors of the economy from industry to retail, likely to be one of the leaders of the recovery this fall in the domestic stock market. We suggest that you look at the relevant history, including shares of power companies.

We continue to look positively on our market, counting on continued growth. However, the main factor in the speculative market continues to be a season beginning today, corporate reports of U.S. companies. At a time when macroeconomic statistics did not meet the expectations of the market, at rates on company profits will now be a high priority. If that can continue to push the stock markets continue upward, so that only the strong statements. However, the negative reaction of investors will not keep waiting, if their expectations, and on these indicators would not be justified.

Today, once again will not be macro-economic data from the U.S., while for the oil market will be important data for the weekly change in oil (18.30, Moscow time, forecast: 2000 thousand barrels per day. oil and 1000 thousand barrels per day. gasoline). However, given the already published figures API (-254 thousand barrels of oil.), Probability that the bull market of data increases. Been published to date statistics for Europe, was weak: GDP growth rate in the EU 2 square. 2009 were revised downwards, and the growth of industrial orders in Germany for August has slowed significantly compared with July. This in turn is reflected in the weak dynamics of European stock indices (DAX 0.2%, FTSE 0.1%) after yesterday's rise.

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