In the case of passing the 1060 mark MICEX index points, the nearest stop for the market will become a standard of 1035-1040 points

Russia

downgraded recommendations on the largest bond insurer - MBIA by JPMorgan raised sales of shares in the financial sector the U.S. stock market, complemented by commentaries analyst Ridarda Bouva on the profits of banks, whose growth is not expected during the second half of this year. Quotations MBIA eventually lost about 13% after the investment bank of comments that credit losses are able to destroy the capital of the company. All 24 stocks comprising the KBW Bank Index had been exposed to decrease, while CIT Group Inc. decreased by 19% due to delayed reporting of income, trying to avoid collapse.

Our opinion . Reducing the Russian market, which began the previous day, it is likely will be continued in today's auction. In favor of this scenario, said as the dynamics of stock exchanges, and a moderately negative trend in the oil market. MICEX Index psychologically, it is important to maintain support at 1060p. (38.2% support for horizontal Fibonacci lines), but because of the possible weakness, and the continuing capacity reduction, the mark may be passed. In this case, the nearest stop for the market becomes a delta 1035-1040p. For the main part of liquid securities that position is: Lukoil - 1480r., Rosneft - 187r., Gazprom - 161r. Gazpromneft - 109r. Surgutneftegaz JSC - 23r. Sberbank JSC - 45,7 p.

Europe

European stock markets closed, the decline on Tuesday because of bad U.S. macroeconomic data, frustrated investors. Pan-European index of blue chip FTSEurofirst 300 dropped 1.34 percent to 931.95 points. The index, achieved last week, a maximum of nine months, falling for the second consecutive day. The cost of labor in the United States in the second quarter declined by 5.8 percent during the forecast decrease of 2.4 per cent, while wholesale inventories in June fell by 1.7 per cent compared to the previous month, with the forecast decline to 0.9 percent. Stronger than other stocks fell the banking sector. Paper Natixis collapsed at 17.7 percent. Quotations of oil companies fell after the collapse of prices for oil and copper.

Asia

Asian shares decline for the first time in three trading sessions against the backdrop of weak profit performance of a number of companies, resume concerns about prospects for the revaluation company and optimistic expectations. Great Wall Motor Co. - The largest Chinese manufacturer of commercial freight transport, has lost 4.5% at the auction in Hong Kong after the publication of a report on the profits of which fall in the first half of the year was 36%. Zhuzhou Smelter Group Co. - Production of zinc dropped 6.4% after the publication of a similar report on the fall of profits. Ascendas Real Estate Investment Trust - the manager in real estate also lost more than 6% for the bid in Singapore after selling at a discount of additional amount of their shares.

United States

U.S. stock market fell on Tuesday, as the well-known banking analyst warned that the financial sector has not improved, and the unexpectedly sharp fall in wholesale stockpiles heightened concerns about the economic recovery. Quotes of financial companies, which added 25 percent last month, collapsed after the Rochdale Securities analyst Richard Bouv made a grim prognosis for the banking industry. He said that bank shares are traded on the emotions and not a real situation, and he expects to reduce the cost. The index of financial sector in the SP 500 dropped 3.5 percent, KBW bank index lost 4.4 percent. In stock is also affected negatively by the Control Commission of the message of the U.S. Congress, which referred to the threat of toxic assets in bank balance sheets. The reduction of wholesale inventories in the U.S. in June, almost twice the projections confirmed that the company is still uncertain about the restoration of the demand. Investors also remained cautious while awaiting the decision of the Fed as a result of the meeting, which began on Tuesday. The focus will be information on the drawdown of the Central Policy Strategy quantitative mitigation.

Closing bid for ADR GDR in the western areas was positive.

Prices are per 1 share

* closing price of a receipt for the United States and European markets to the closing price of shares on the MICEX.

Recommendations . Of the major macroeconomic statistical data suggest that attention to the U.S. trade balance in June, stocks of petroleum and petroleum products during the previous week, the budget deficit, and the decision on interest rates in the United States. The data will be published in 16-30, 18-30, 22-00 and 22-15 on Moscow time.

MICEX (daily schedule)

Elevator indicate rates
Cabinet building castles in the air
Deposit discrimination