On Wednesday, the Russian stock market twice a week experienced effect correction. RTS Index dropped 4.05%, MICEX - to 5.46% The main reason for the fall - the sale of commodity sectors, which witnessed not only in Russia but in other regions of the world where the sector was also under attack. Nevertheless, with the most likely potential correction has already been exhausted, and on Thursday we can expect a small rebound upwards, which may not offset the losses, but in any case will take into account the fact that commodities on the rise again. Oil and dollar - still play a decisive role for Russian shares. The decline of oil below $ 70 a barrel on Wednesday moved the Russian market down, and just to return quotes to almost $ 71 per barrel (Class WTI) can provide a growing market for a few percent. fluctuations energy costs, in turn, are closely related to the situation on the currency market, a moderate weakening of the dollar over the past day, led to an increase in the cost of not only oil but also other commodities, including - Metal: Gold rose in price on 0,38%, palladium and platinum - to 0.74% and 0.08% respectively. Although the small scale motions, it still points to the positive momentum that has not yet been reflected in the Russian stock market. And yet from the U.S. can expect new variations that could again turn the price situation. The upcoming meeting next week, the Fed should shed light on the prospects for future monetary policy, and above all - to change the interest rate. The possibility of increasing the latter has become increasingly laid analysts to forecast, particularly on the grounds of the expectations of accelerating inflation in the U.S. economy. Statistics are not yet confirms these symptoms: according to data released on Wednesday index CPI in May was 0.1% (against 0.3% estimated by experts), but the aggressive regulatory measures of monetary authorities over the last year has strengthened many of the opinion that the growth prices is inevitable. A little background spoils the picture of external negative trend in the Asian markets, where key indices falling today (Nikkei - -1,49%, KOSPI - -0,99%, Hang Seng - -1,97%). Reducing the dollar is a direct impact on income from exports, which lay in the expectation of future profits and the value of the shares. However, at this time downward trend in these markets has already exhausted itself, and can be observed that the active phase of correction is likely to have passed virtually everywhere. Authorize and appreciate the story;; Your grade will be the first! Analyst Ratings
To date, the external background for participants in the Russian market remains highly controversial. First, continue to press on the market news of the delay of projects to Gazprom for gas deliveries to China and reducing the rating agency SP ratings of Russian banks. Naturally, that is, having not the greatest optimism for growth, now those paper and podavno will be under pressure. Second, an active desire to bear to work with short and no less desire VEBa to throw into the market of securities (worth about 175 billion rubles.) does not contribute to the growth of the market. Nevertheless, there will always be bold spirits, who will say that the observed decline in the Russian market is excessive, so the weakening of the dollar should be the trigger for the rebound, and high oil prices should support the oil companies. On the U.S. market trading ended divergent changes in the leading index, as one of the leading paper companies have been reducing the financial sector, after the international rating agency Standard Poor s has lowered the corporate ratings of nearly 20 U.S. banks. The Agency stresses that the conditions for operating activities of banks will be less favorable. Securities Wells Fargo proseli at 5.37%, and the paper JPMorgan lost 2.3%, while the quotes KeyCorp. fell to 7.77%. After the public financial reports 1.4% loss of paper one of the world's leading postal carriers FedEx. The company reported that its net profit for the financial year ended 31 March 2009-the first year, decreased 11.5-fold, reaching $ 98 million compared with $ 1.13 billion last year. Stock Quotes largest competitor FedEx - United Parcel Service declined to bid on the basis of 0.66%. With regard to macro-economic statistics, even prior to opening the U.S. Department of Labor has published data on the dynamics of consumer prices, which in May compared with the previous month increased by 0.1 %, with market expectations that the index will grow by 0.3%. Yesterday, the Ministry of Commerce reported that the negative balance of payments on the basis of United States I the quarter fell to $ 101.5 billion, which was the small figure deficit in the last 8 years . Nevertheless, the market was waiting for an even larger reduction of deficits on the basis of the last quarter - to a level of $ 85 billion in the oil market quotes retreated from its intraday minimum of $ 69 after U.S. stock indexes moved in positive territory. Yesterday, investors in Another look at the latest weekly data on reserves, which were initially perceived as ambiguous. If the oil reserves in the last week decreased significantly more than predicted - at 3.9 million barrels, the growth stocks of petrol has exceeded all expectations. It is due to lack of quotations Yesterday, oil rose more than twofold compared with the minimum values of February. The increase in oil prices triggered concerns of investors regarding the fact that this may undermine the emerging economic recovery, just as last year's high oil prices exacerbated the economic downturn. In general, the increase in oil prices in recent months, actively contributed to the weakening U.S. dollar, as inflationary fears prompted market participants to buy commodities. However, while visible signs of inflation yet, because the consumer price index in the United States in May fell by 1.3% compared to May of 2008, which was the largest fall since April 1950-year. Today, we look forward to continuing to find the outset, as much prosest the market does not provide steady oil near $ 70 a barrel, but do not grow much short selling and rumors of early sales VEBa. On the other hand, it was hoped that the decline yesterday in the Russian market was not connected either with the oil prices, nor to the situation in the United States, therefore, clearly suggests the trend is difficult to. Authorize and appreciate the story;; 2 users rated material at 2,5. Analyst Ratings
banker can afford to stay out of politics until not provided in the National Bank. Deputy Head of NBU Alexander Savchenko has been a victim of war, Yulia Tymoshenko and Viktor Yushchenko over control of the CBR. The battle won, President, and Savchenko, though, and kept the post, in fact, been deprived of the major powers. However, according to our observations, it is not particularly upset that - Alexander Savchenko obviously did not intend struggles to cling to the seat. Which is not surprising for a person with the account a few tens of millions of dollars and, more importantly, the context in banking circles, acquired over time in the National Bank. long awaited meeting with correspondents Deputy NBU Alexander Savchenko, from his Cabinet carry laughter. It turned out over the jokes of Savtchenko laugh representatives of foreign Investment. The banker, - deputy head of the NBU continues to joke with a meeting with our correspondent - a person who gives you an umbrella when the sun shines, and takes it as soon as the rain starts. Jocular mood to go there when we ask the question of domestic policy the National Bank. Speaking about the organization, Alexander Savchenko carefully chosen words. Perhaps, therefore, in spite of the opposition in the image of the National Bank, his answers like a quote Vladimir Stelmakh. On the silence during the last crisis, and on a number of controversial decisions of the NBU, WA wrote more than once. In explanation of the reasons for refuting the National Bank's own decisions, that does not adds any credibility with the public or by the banks, Alexander Savchenko, as always, very careful. Could you put the point over the i: Now the banks are obliged to refund the deposits, or may do so on its own? - I think the real, rather than the formal lifting of the moratorium on deposits should occur after a successful recapitalization of banks. Once it starts, people and businesses can get their deposits. While in fact, this moratorium is symbolic because only the National Bank of Ukraine recommended to commercial banks to take preventive measures to prevent mass withdrawals of deposits. Neither the banking system in the world can not withstand such an onslaught. Do not forget that we have to add another financial crisis and the political. you almost word for word repeated explanations by Mr. Stelmakh ... - As a rule, my view is strategically coincides with the point of Chapter NBU. Why National Bank decided not to say that the moratorium is no longer valid? - now it is very important not to make sudden movements. They are justified when the situation is deteriorating, and we, instead, begins to stabilize. I'm not talking about improving, do not delude yourself, but the withdrawal of currency abroad is declining, and the outflow of deposits in the whole system slows down. The course begins hryvna strengthened (I'm still at the end of last year, when the rate was at a level 9-10 hrn. The dollar, saying that he strengthened up to 7 grn. But nobody believed me). The political situation is gradually stabilizing, too: it's not clear in what month, but the election will be held, and they will be alone. And the smaller the election, the better the economic situation in the country. Public reaction bankers at the abolition of the moratorium was surprisingly calm. Perhaps their fears were for emergency meetings and meetings of the National Bank? - No emergency meetings and was not and could not be. Banks' owners and top managers need to understand that they are personally responsible for repayment of all deposits of both citizens and businesses. This responsibility will be borne by all the officials that govern these issues. When the final lifting of the moratorium is directly dependent on the recapitalization, when it did begin? - This process is really long, and this is unacceptable. (Last updated Cabinet on the decision of State participation in the recapitalization of banks, as at the time of the delivery room in the press, was adopted on 17 April. The meeting of expert analytical advice on questions of government participation in the capitalization of banks on 30 May did not take place due to illness of his chapter Yulia Tymoshenko. At the meeting scheduled to approve the recapitalization Ukrgasbank, Rodovid the Bank and the Bank Kiev) The budget allocated for the recapitalization of banks of 44 billion UAH., half of whom had already had to work on the economy. The money has to go through several cycles: the depositors would be taken away from problem banks, and put in the safe, which, in turn, would run them into the economy through lending. In the meantime, they are obezdvizheny in the budget. Business Consultant Once in the business of the NBU Alexander Savchenko has not lost interest in entrepreneurship. The banker is confident that the excellent know how to conduct business in times of crisis. Will he just producing a crisis of survival strategies for the banking and construction industries. The latter, along with real estate, is our hero's interest in the future. banking business Alexander Savchenko away, sold in 2007 for $ 75.3 million to the International Commercial Bank Greek Piraeus Bank. Bargain spared him from having to apply for most councils in times of crisis. Now he can afford to give them to others. The main recommendation banker - selling off assets, even cheaper than the cost to go to the bottom with them. However, the greatest demand is not abstract crisis advice from Alexander Savchenko, and answers to specific questions: how to get funding and which projects in Ukraine, you can invest. If it's the first to come home business, then with the latest - by foreign bankers. As you near - the civil service or business? - Of course, business is much more honest than the activities of officials. In business you have to determine what to do. On the civil service is often more important than your circumstances. And if you are weaker in these circumstances, even objective, I think, be right to think about the new job. If you do not know how to work to earn a living, then you will be poor, or a deputy clerk. And be one way or another his entire life - it is not possible. I would not admit to the major posts of people who are in their lives have not been able to earn money and build something independently. I am impressed by policies that have come out of business. If a person is able to scratch build a great system, he and the Public Service to build such a system much better than those who did not go out beyond his office. Although exceptions exist, there are brilliant people, but this is the exception, not the rule. What areas in the foreseeable future, plan to do? - Just not the commercial banks. This has already passed stage. I am interested in land and real estate. In this area, you can create something beautiful, functional and solid. Interesting to develop resorts. We simply do not have public policies to promote tourism and enormous potential. Another very interesting segment - financial companies. After this correction was due to start a new phase of financial companies. I think that 60-70% of them will withdraw from the market, and here you can create new products have more thoroughly. Ukraine is also not a state development bank that makes the country very vulnerable to shortages of long-term investment of resources. in these areas and you konsultiruete business? - Sure. In addition to questions on finsektoru, many, especially foreign investors, interested in issues related to real estate. What exactly they want to know? - all interested in the macroeconomic situation. Because the National Bank is responsible for the movement of capital, all the structures involved in global investment, and that large companies have the right to hear the views of the National Bank of Ukraine - on the exchange rate, inflationary policy, regulation of capital movements. This is a normal practice. How do you get out of the situation, if a request to assist in lending? - Many people want to get credit, for example, the completion of houses. I would say that now they will not get credit, and this applies both to natural persons or enterprises. Then there is the question: where is the search tool? From the outside money would not come, then, must rely only on themselves. My advice: go to a discount and sell everything that can, and the sooner the better, because later the price will only fall. Thereis, of course, a time when this trend will stop. But according to my projected in Ukraine economic recovery will not happen before the beginning of next year, but prices can be calculated in a year or two. you sovetuete developers to reduce prices? - If a builder or developer a reasonable, he must throw off the price and sell it for a living, while retaining a core staff. Smart businessmen lower price, sometimes even more than they should, just to sell. A foolish, where it was necessary to raise the price to $ 1.5 thousand /sq. m, placed $ 2 thousand now, instead of thousands, they put one and a half, and nobody buys. And then the time will come when, and for a thousand, no one will buy. And while bankruptcy is inevitable. We must be prepared to sell at a loss in order to survive. This is necessary even if the State, I hope, will support the construction sector through mortgages and grants for the completion of the necessary objects indeed. What is the main lesson to be drawn from the crisis, the owners and management of the banking sector? - I am in touch with bankers and see that many of them have not learned the lessons of the crisis. For the foreseeable future will not sell the bank at a profit. Overseas banks have lost even successful in the price of 50%. Ukraine - about four times cheaper. If someone is willing to buy a bank four times cheaper than the peak of its book value - it is a good proposal, and the owners must fight for it. It is therefore absolutely correct in the past, the concept of owner, focusing not on profit but on the capitalization of banks for the purpose of resale, is now irrelevant. Those who have it focused on this concept should be abandoned. Now you need not even so much to think about profit - it is an abstract category, but rather to ensure a constant cash flow. It is also necessary to close unprofitable branches and sell them. We have them in two to three times more than necessary. And I do not see that exhibited in the sale of many loss-making branches even finuchrezhdeniyah, which introduced a temporary administration. This is unfortunate: the banks' lack of money, as they sit on the falling price of assets. Circumcision powers long time, Alexander Savchenko considered a protégé of NBU Volodymyr Stelmakh. Our hero was a frequent guest of the Heads of National Bank as far back as the commercial bank management, they are clearly linked to friendly relations. But with time Savtchenko into the Neighborhood Council of the NBU Peter Poroshenko, and he, in turn, began to work closely with the team of Prime Minister Yulia Tymoshenko. Stelmakh meanwhile remained in the number of people consulted by President Viktor Yushchenko. This provoked one of the most high-profile scandals in the history of the National Bank of Ukraine, where a control initiated the fight, President and Prime Minister. January attempt to change the leadership of the National Bank, sulivshaya Alexander Savchenko increase, resulted in the failure of the career for him. The proposal to appoint him, and. about. Heads of the National Bank of Ukraine has received from the BYuT faction, tried to remove the chairman of the National Bank Volodymyr Stelmakh and his first zama Anatoly Shapovalov. Subsequently, it is worthwhile to Alexander Savchenko major powers. When it became clear that the current leadership of the central bank will remain in their seats, getting in the opposition Savtchenko removed from the management department of foreign exchange controls and licensing, as well as deprived of authority to control the activities of the executive director of the cash turnover. Because of his obedience took management control of risks, the Department of cash circulation, the Museum of the money the National Bank, Central National Bank of Ukraine and the banknote storage-Mint.
Today in the results: Energy and Energy Oil quotes June 17, continues to show mixed trends. Oil on Tuesday June 16, dropped in price after the shares on the stock market. During the auction there was the rising cost of futures for the supply of oil, but a negative trend in the stock market the U.S. has played a crucial role. In addition, traders are not sure that 60 per cent increase in the cost of oil this year, was founded in fundamental factors. API: Commercial oil stocks in the United States from 5 to 12 June 2009. declined by 1.262 million barrels. Turkey: Intergovernmental Agreement on Nabucco to sign in July. Commissioning of one of the largest gas fields Gazprom postponed - thin intestine. Cameco aggressively buying up uranium in the spot market ... more world stock market Trades in the United States on Tuesday 16 June, culminated in the decline of stock indexes. Once again the pressure on the market has had a decline in prices on commodity markets, which negatively affected the shares of commodity companies. Stock trades in Europe on 16 June 2009. ended differently change the leading indices. Among the leaders of the fall were the financial sector, whose shares are steadily added to the price of the last session. In addition to the desire of investors to record profits, the impact on the bid had the statement of the European Central Bank (ECB) that the banks of the euro area may have to be before the end of 2009. to write off about $ 283 billion stock trading in Japan on 17 June 2009. Nikkei index ended the growth against the backdrop of corporate news. Investors are optimistic about the statement by the largest insurance company in Japan, Nomura Holdings Inc. the intention to establish an international investment fund that will invest in cleaner technologies. In this regard, as a result of trades went up shares of companies that can most benefit from the creation of such investfonda. As a result of trades on June 16 the RTS index to closing of the previous session, rose by 5.02 points (0.47%) and amounted to 1082.19 points. The turnover of trades on the RTS classic market totaled $ 5.301 million, which is about average for the last month. Results of the trading day from the Russians: all your time to open a short position? I went ...
Our predictions regarding the direction of the currency pair GBP /USD, presented in the preceding analysis met, and quotes made in the paper target 1,62. Over the last few days of trading in the pair are already above this value in the range of 1,63-1,64 and we believe that in future the next few months, there is reason to expect to replace the prevailing 3 quarters of 2008 the downward trend in the bottom. This says first of all, the intersection of simple moving averages with a sufficiently large time intervals of 50 and 200. Thus, fast moving slowly upward, crossed with the first 2 quarters of 2006, thereby giving a signal to the formation of at least medium-term upward movement of quotations (Fig. 1) Fig. 1 - Full-time dynamics of pair GBP /USD since 2006, and simple moving averages   Source: Reuters considering other technical indicators for the pair GBP /USD we can say that they, in general, not inconsistent with the development of medium-term upward trend. Indicator ADX, submitted under the daily schedule in Fig. 2 shows the intersection of the line DX DX-line upwards, which confirms the upward trend, which is the trend line is at a high enough level, referring to his power. indicator of slope of linear regression, which is located just below, even in May, crossed the zero point, thus giving a signal to buy. At the moment, however, it is quite close to crossing it in the opposite direction. Nevertheless, we believethat if the intersection in the near future all the same place, a signal consistent with the other indicators before us does not upset the overall picture and can point only to a short-term correction.
On the U.S. market trading ended on the decline of leading indexes after a rather contradictory macroeconomic data and negative corporate news to inspire investors to fear that the long-awaited economic recovery did not come as soon as expected. Even before the opening of tenders the U.S. Department of Commerce reported a sudden increase in construction of new homes. This rate increased in May compared with the previous month at 17.2% to a level of 532 thousand units, which was significantly better than market expectations, the projected growth of up to 500 thousand units, and the time allowed bidders forget about the recession. Also, the Ministry of Labor reported yesterday that industrial prices in the United States in May rose relative to the previous month at 0.2%, despite expectations of growth at 0.7%. negative report on the results of I quarter the company introduced the Best Buy, which is one of the largest U.S. retailers. The company reported a decline in profit in March-May at 15% to a level of $ 153 million due to costs of restructuring, while the market waited for the results that Best Buy will be more impressive, because of what the quotations of the company's shares fell by 7, 3%. Worse market finished bidding and for energy companies, as oil prices fell again, stopping at a level below $ 71 a barrel.
Investment Bank FINAM (part of an investment holding company FINAM) provided an update on the conditions of one of the most popular contributions to its lineup - the contribution of interesting terms leader. Now it is available under the possibility of payments in the two limits of balance. In addition, investors proposed a number of bonuses to increase the rates on deposits. Contribution Leader Bank FINAM was launched on the market in late 2006. Since then his condition has undergone several changes designed to meet the maximum demands of depositors. In addition to several rate increase, in early 2009 on a deposit has been possible to make payments in the balance, which amounts to 400 thousand rubles, 10 thousand dollars, or 8 thousand euro. a new step for the development of Leader was the introduction of another level of balance. Now it is 100 thousand rubles, 3 thousand dollars, or 2,5 thousand euro. Minimum balance to the level of 400 thousand rubles, 10 thousand dollars, or 8 thousand euro also saved. In addition, under the new conditions the rate of contribution Leader depends on the size of balance and the period of borrowing. Clients also offered the added bonus - if the extension of the contribution of the total duration of the deployment of funds is Next upper term rate increases with donachisleniem percent for the entire previous period (from the time of the contract). suggesting additional terms for the contribution of the Leader, we focus on the needs of our clients. We are now seeing the influx of investors with relatively small amounts. For many, the actual opportunity to not only replenish the contribution, but also make payments to the conservation of high interest income.
Movement of the MICEX index in the first half of yesterday's auction was quite logical. At the opening of the trading index tested the bottom of the March trend (~ 1070 on), then started a technical rebound to a level of zero-yield monthly trade position (IAD-20 = 1111 on). External cause oil prices were rising at a temporary weakening of the U.S. dollar. However, yesterday's motion does not alter the main thing - an influx of new money to the market this month suspension. Indicator of cash flow balances near the levels that were achieved on the basis of the May trade (sm.ris.). Yesterday's purchase of a large short positions are required to purchase. Braking MICEX index below IAD-20 showed the reluctance of participants to rebuild long positions at these prices. Indicators of net trading volume of open positions on the horizon week (OBV-5) and month (OBV-20), on the basis of trades have not changed. Thus, the downward correction has not yet reached the desired goals. Sales may be continued. Support for the MICEX index in the forward zone 1010/1040 Point, where the level of zero-yield medium-term positions - an indicator of IAD-60 (p. 1032). We allow the possibility of testing at this level, but do not expect that the aggressive sales. Authorize and appreciate the story;; 5 users rated material at 4,2. Analyst Ratings
Lukoil trend Short Term Medium Term Long-Term neutral increase lowering level of support 1520 - 1550 1400 - 1480 1280 - 1370 The level of resistance 1640 - 1670 1820 - 1900 1920 - 2160 Recommendations Bring brake application to market prices. Norilsk Nickel trend Short Term Medium-Term Long-Term Neutral increase demotion level of support 3020 - 3090 2790 - 2940 2230 - 2520 level of resistance 3430 - 3520 3780 - 4060 4060 - 4540 Recommendations Bring brake application to market prices . Rostelekom trend Short Term Medium-Term Long-Term neutral demotion neutral level of support 190.80 - 193.30 181.30 - 188.10 115.20 - 142.30 level of resistance 203.90 - 206.80 212.60 - 218.10 320.70 - 355.50 Recommendations No position. Gazprom trend Short Term Medium-Term Long-Term neutral increase lowering level of support 169.50 - 170.80 164.70 - 168.90 136.50 - 146.30 level of resistance 179.00 - 181.90 191.30 - 198.00 216.00 - 228.00 Recommendations Bring brake application to market prices. Mosenergo trend Short Term Medium-Term Long-Term neutral increase lowering level of support 1.710 - 1.750 1.640 - 1.700 1.180 - 1.330 level of resistance 1.860 - 1.910 1.930 - 2.000 2.400 - 2.770 Recommendations Bring brake application to market prices. Surgutneftegas trend Short Term Medium Term Long-Term neutral increase lowering level of support 22.80 - 23.10 22.10 - 22.90 19.60 - 21.30 The level of resistance 24.80 - 25.30 26.70 - 27.50 29.20 - 31.50 References Bring brake application to market prices. Savings Bank trend Short Term Medium-Term Long-Term Neutral increase demotion level of support 41.20 - 43.60 36.40 - 40.10 22.40 - 33.30 level of resistance 49.00 - 51.40 53.10 - 54.80 65.30 - 77.40 Recommendations Bring brake application to market prices . Authorize and appreciate the story;; 5 users rated material at 3. Analyst Ratings
MICEX index back into a comfortable passage, which is not bad The Russian stock market after a pause the previous day again rushed to the south, is the negative attitude to external markets. Opening, as expected, occurred in the negative territory, which was connected with the closure of the trading in negative territory for the United States and the adjustment of oil down to the level of $ 72 per barrel. After the indices slightly adjusted from a minimum, approaching the level of 1100 points on the MICEX. Further mood defined bear the signals from outside markets, which were dominated by sharply - a negative mood. And even quite positive statistics from the UK could not support bulls. As a result, indices went into a deep negative. The main cause of decline, in my opinion, is the concern of investors about the expectations of statements B. Obama, who now must submit to reform oversight of the financial market. The growing number of bankruptcies of large corporations, previously ignored by investors, once again inspires fear. The market is again expected, but in May they were positive, then in June in the minds of investors hold anxiety. Waiting for the Fed meeting next week and the recent rumors about a possible raise rates are the main risks, and a slight strengthening of the dollar confirms these fears. Technically, the index futures on the SP 500 has returned to the corridor 900 - 930 points, and only of Perforation resistance may cause a violent wave of growth in the domestic market. In the opposite case, downward correction will continue. Until the end of the day to affect the dynamics of data on oil and petroleum products in the United States. In the case of positive data likely wave of growth, which may be the closing of short positions. It should be noted that the purchase at a fairly turbulent external background risky. Session of the United States promises to be volatile due to saturation at presentation. At the same time, support in the region of 900 points on the SP 500 is strong enough, and published statistics on consumer prices in the United States coincided with a projection that does not give clear signals for further movement. session tomorrow at domestic sites is also going to be volatile. Of the key statistics is to provide traditional data on the number of applications for unemployment benefits, as well as the index of business activity and the gradual dispersal of inflation in the United States. In my view, open position the medium is still too early, because a clearer fundamental and technical signals from external markets. Technically, the MICEX index this week is back in the mid-term upward channel is formed at the beginning of the year, from which he came during the May rally. Today, the index consolidated in the middle of the channel, the level of support was made in the region of 1045 points. In the case of the negative signal code to proceed to the lower boundary at 960 points, which you can build your purchase. Reduced to this level will fall within the scope of the technical correction, and, in my opinion, the consolidation in the medium feed to the end of the summer without a sharp rise up provides the greatest chance for continued growth in the autumn of 2009, as the level is comfortable. Shares of Russian oil and gas sector are included in the list of outsiders, which helpsthe situation on the commodity market where oil brand Brent went below $ 70 a barrel. In my opinion, with positive data on speculative positions is open for purchase in order to return to the nearest resistance. For Gazprom to the level of a mark in the area of 170 rubles., For Rosneft - 190 rubles. Shares of banking sector also looks worse than the market. They are pushed down, including information that the Central Bank of Russia can facilitate the writing-off bad debts of banks, whereas previously this option was considered as a last resort. I think that this statement the Central Bank hinted at the precarious banking system of Russia. In my view, a medium stock banks unattractive, but the high volatility creates the perfect conditions for speculative strategy. Authorize and appreciate the story;; 5 users rated material at 2,8. Analyst Ratings