Oil regrowth, but Russia's stock market in no hurry to follow. Growth is very selective

market slowly creeping upward. Oil today demonstrates a steady rise, as observed during yesterday's trading. To date, quotes Brent rose by 1.5%, which supports our optimism regarding Russia's market, especially oil chips. Last month, quarter and fiscal year in the United States speak a kind of additional factor pushing up share prices - controlling interest in a high overestimation of their portfolios at the balance sheet date, which can lead artificially high prices, especially in low liquidity securities.

Despite the positive trend in prices in the oil market, shares of oil and gas companies can never return to the task of Russia's economy in the interest of investors. Market participants continue to win back the most interesting idea in our market - the transition of network companies on RAB and the probability of transition to a single share. And this morning, the demand for paper MRSC was just great. Take off in the first minutes of trading quoted at 15-30% at very high volume of trading was very unexpected. We have repeatedly pointed to the undervalued companies sector, but to explain the present as such a huge surge of interest in them can not. In the first hour of trading volumes on these previously illiquid securities exceeds the corresponding figure for such chips, as Chairman of Audit Committee or Uralsvyazinform. However, after a sharp rise at the opening, the potential for further growth of capitalization of many IDCs significantly decreased, respectively, the players lean on short-term speculation, it makes sense to fix the current profit. For more conservative as investors pay attention to shares of the largest distribution company - Grid (6%), which, although it does not have in its name the letters IDC, however, belongs to the same group, and have at least impressive growth potential.

From the blue chips is once again allocated shares metallurgists - Severstal (3.4%) and MMC Nornickel (2.5%). The growth of the oil market today weakly expressed. Gazprom (-0.7%) all traded with a decrease in quotations. In the second tier securities in addition to IDC, the growth rate are allocated shares of PIK Group, soaring more than 10% after reports the company has reached an agreement to restructure its loan portfolio with Sberbank. Thus, the risk of bankruptcy is passed, the worst is over, and investors may have to re-evaluate the prospects of the company, based on its cash flows and prospects, not to play guessing about the viability of the company in a money hungry.

This evening we are waiting out the important statistics. At 16.15 Moscow time, will be published data on the number of jobs created in the private sector from ADP (forecast -200 thousand), and at 17.45 Moscow time - Chicago PMI (forecast 52 points). The main course, are the data on the labor market, which are the harbingers of Friday payrolls. After today announced a reduction in September, unemployment in Germany (from 8.3% it dropped to 8.2%, while the absolute reduction in the number of unemployed observed for the third month in a row), similar positive information to investors wanted to hear, and the United States. But, apparently, this is not the short term.

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Index of the Frankfurt Stock Exchange Xetra DAX rose 7.36 points, the index of the London Stock Exchange FTSE 100 rose 6.75 points
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