Correction in the prices of industrial metals during the Asian trading can bring sales of shares in Russia's Metallurgical

With the release of American players on the market stock indexes in the Western Hemisphere continued to rise, playing the promises of representatives of the monetary authorities G20 countries maintain high levels of liquidity in the global financial system. However, this morning to fuse investor optimism waned. Signs of stagflation in Australia and accommodation treasuries, binding liquidity returned to the market uncertainty, which could provide an opportunity for investors in the quality of care. Quotes oil reaching $ 71 a barrel in U.S. trading, this morning dropped below $ 70 a barrel. Amid growing signs of correction in world markets, domestic indices, adding to the end of last week, 6.4%, may withdraw from the June highs reached in the region 1120-1130 n.

Start shortened week in the United States began with the growth of the leading stock indexes. Americans'd play positive expectations regarding the persistence of high levels of liquidity in global markets, having reigned in the markets after a meeting of Finance Ministers of G20, held at the weekend. The Dow rose 0.59% to 9497 on, the index SP - on 0,88% to 1,025 p. The growth of the U.S. sites was accompanied by a very optimistic projections leading investdomov for further dynamic indices. Credit Swiss on a background of strengthening the trend towards global growth expected SP 500 index at 1150 n. by mid-2010, focusing on the fact that many macroeconomic factors have now returned to levels prior to the bankruptcy of Lehman. However, one does not exclude the W-shaped recovery scenario the world economy, which, in adeparture from the Fed's policy of zero rates and on the background of the crisis-lending in China, the world's leading indexes may collapse, but apparently this can happen only after the capital will flow into the real economy, but will not hang in the risky assets as now. Concerns about the prospects for restoring the American economy today is extremely low activity in the lending market. Borrowers are actively reducing its debt load, but at the same time refuse new loans, which casts doubt on prospects for an early recovery in the lending market and, consequently, the adequacy of liquidity in case of withdrawal from the market state.

today's trading in Asia are in far less optimistic: first, inspired by the results of auctions in the U.S. regional indexes rose more than 1%, but currently the benchmark MSCI Asia Pacific fell 0.9% already. Optimism on the Australian economy, which became one of the reason for the growth in the course of yesterday's trading, today was neutralized by weak statistics on retail sales and decline in demand for mortgages. At the market return uncertainty and doubt in the fact that current prices correspond to the power of reviving the global economy. In addition, the pressure on the indices provide accommodation treasuries, launched yesterday. Despite the fact that the volume of placements far from the record of August and is only $ 70 billion, it is possible that in the coming days, the trend towards care quality can be further developed.

Domestic indices are likely today to open lower on 1,5-2%. The main indicator for Russia's market will be the quotation of oil, which declined during the Asian session. Today's decision by OPEC does not portend any surprises: it is expected that production quotas will be retained. However, a fundamental influence on the decisions of the cartel oil market is not enough: to increase the price of black gold of the country outside of OPEC, in particular Russia, are actively expanding the supply of oil on the world market, effectively minimizing the supply constraints imposed by the cartel. We believe that the oil quotations in the course of the day will remain under pressure, which will contribute to sales in the shares of domestic oil companies. Correction in prices of key industrial metals during the Asian trading can bring sales of shares in Russia's steel companies. The acts of Polyus Gold and Polymetal, also can be a temporary technical correction, but in contrast to the positive predictions of further growth of gold prices (the price exceeded $ 1000 per ounce), the demand for shares in these companies will be strong.

Unlike the commodity sectors, banks, apparently, will look stronger: speculative buying in the Savings Bank and the persistent discount to the offering price of shares VTB may limit the decline in the sector. The demand may remain in the telecommunications sector: primarily on speculation of the imminent consolidation of the industry by Rostelecom, the second - on a fundamental sector of the fortress, which is based on data Minkomsvyazi not too affected by the crisis: the profits on the key areas of services offered by companies continued to grow, and better in this context appear MRK.

Stock markets in Asia fall on Wednesday due to sales of shares of several companies
The level of support for fixed-term contract on RTS index today - 112 000 points
Profit-taking in Russia's stock market will contribute accumulated over the past two days overheated
The closest resistance on the MICEX index was at around 1,165 points, support - in the zone of 1100-1110 points
If the external background is changed to positive in the near future the market may test the 1,160 point mark on MICEX
The results of the next meeting of OPEC in Vienna is unlikely to be able to surprise the market significantly
If the dollar falls, the growth of commodities will continue, that would be beneficial for Russia market
Russia's indexes out of the side of the corridor, most likely continued upward movement of the maxima of the year
In the short run does not exclude certain depreciation of the ruble in relation to leading world currencies