Outside the background before the opening of Russia”s stock market on Monday was unfavorable: the fall of U.S. indexes on Friday and continued downward movement in the Asian areas has led to the fact that the MICEX index opened down at 1,396 points. But then, share prices began a slow upward motion: support came from non-residents, who mostly played buyers. Many thought that the sharp fall in equity markets last week was a good opportunity to enter the market, which led to increased consumer interest. Movement of U.S. indexes up after the opening was played Russia”s market, but the data released at 18.00 on sales of existing homes in the United States were worse than expected, which led to a slight decrease in quotations. As a result, the MICEX index opened with slight increase in the level of 1416 points, which is 0.39% increase to the level of closing on Friday.

surprise was the dynamics of the shares of metallurgical sector: Severstal”s shares fell 1.27% and 2.56% of NLMK. We believe that the reason for this decline could become “overbought” shares metallurgical sector (an increase from the beginning of the year by more than 13%). Rusal has finished placement on Kongkongskoy Stock Exchange: price was 10.8 kongkongskih dollars, and the volume placement kongkongskih totaled 17.4 billion dollars (2.24 billion U.S. dollars).

In the currency market volatility was low: in the middle of the day against the currency basket price dropped to 35.60 (which is most likely due to the tax period), but by the end of the trading quotes grew to 35.73 rubles for the basket that just 2 penny below Friday”s level.