The stunning growth of Russian stock indexes yesterday again forced market participants speculate about the reasons for the rally. The weakening dollar, which supports high oil prices, excess liquidity in the market, the desire of some investors waited to enter the correction of certain securities, jump into the departing train, forced the closing of short positions by brokers - that's an incomplete list of versions. These factors alone, but rather, together, allowed to update the index highs of September 2008: RTS rose by 4%, MICEX on 3,8%.

In leaders of growth on the MICEX Gazprom (6%), Nornickel (4.73%), VTB (4.2%), an average of 2% in the black the other companies of the oil sector, Polyus Gold and Sberbank went up by 3%. In the RTS best demonstrated the dynamics of WGC, a pretext for the purchase of which served as the news from the Energy Ministry over the decision on long-term market power. In recent weeks, network companies, in demand due to a future transition to RAB, have grown considerably, and the idea of shift in generation was received with enthusiasm. Of the networks also continued growth of FGC, playing Friday FST statement on the planned company growth rate in 2010 more than 50%, which corresponds to the request of management.

The mood in Russia market, albeit overly optimistic, but fit into the global. The pan-European index Dow Jones Euro Stoxx yesterday rose 1.12%, growth was observed across the spectrum of securities, the exception was only the telecommunications and utilities. In America a group of telecommunications companies declined as companies consumer segment, the other grew. The best the dynamics of the members of the Dow Jones (0,21%) companies have shown IBM and oil companies. SP has grown up on 0,44%, updating highs to close the year, Nasdaq fell 0.01%. On Tuesday futures for U.S. indices in positive territory. Today, significant statistics in the U.S. will not be published, but leave the corporate records for the III quarter, in particular, Intel Corp. and Johnson Johnson.

Judging by the quotations of depositary receipts for shares of Russian companies traded on the premarkete morning at the opening of tenders is waiting for us a small correction. However, the overall market situation in comparison with the past has not changed: the dollar continues to decline, oil prices above $ 73 a barrel, the background positive - so that we expect to maintain the upward trend in the near future.

The growth of Russia's market may be interrupted at the first negative signal
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Against the backdrop of favorable trends in the global economy a short-term support to the market will have a primary site
On Russia's market remains a growing trend, demonstrated by the volumes
From the dynamics of pair EUR /USD will depend a great deal for Russia's stock market on Tuesday
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