Comma delimited continues: Friday was a positive day, but this morning, against a background of falling Chinese indices from this positive again will be over. And this despite the fact that talk of reviving the global economy after the recession, more and more, and the price of oil (so far) kept above a mark of $ 70 per barrel. However, the market is obviously in no hurry to grow, and clears only a few ideas. On Friday, they were, as in previous days, the paper of the regional telecom (eg, preference shares Uralsvyazinform increased by 11,17%, while its common stock reached a resistance of 60 kopecks per share). In addition, we observed a powerful, at 15,22%, the growth of shares of FGC UES. Apparently, such a positive effect on the information provided in the government's development strategy of fuel and energy complex with the horizon to 2030. The program said, inter alia, the need to invest $ 572 - $ 888 billion in power generation and network facility. Of course, such a significant time horizon makes this program from the perspective of the market rather symbolic value, but speculation up on it is quite possible.

Meanwhile, the events of this morning, when we see a drop in U.S. futures and the dollar's rise against the euro. Also are falling and Asian areas, partly dueto (for Japan) the growth of yen strengthens against the backdrop of election victory of the Democratic Party of Japan, but mainly - a significant reduction of Chinese indices occurring against the backdrop of negative reporting by companies and concerns about possibly excessive load of problem debts in Chinese banks.

However, we do not expect a significant reduction and, in general, predict the conservation side views on the MICEX Index and major papers.

Today

The world's leading markets were closed Friday in diverse directions: German DAX 0,86%, Britain's FTSE 0,81%, DJIA -0,38%. Asian markets this morning, declining, while Japanese Nikkei225 loses -0,40%. Futures on the S P500 decreased by -0.63%.

Pair EUR /USD is in the € /$ 1,4257, and USD /JPY - in $ /#165; 92.73. Gold is $ 954.60 per troy ounce, silver - $ 14.68 per troy ounce, copper - $ 6,508, and nickel - $ 19,140 per metric ton.

Yields for UST-2 0.99; for UST-10 3,42.

Oil prices over the past 48 hours, dropped $ 0.39 to $ 72.11 per barrel varieties Brent.

Futures RIU9 the night session was closed at 106.600 points (-0.97%).

At 13.45 GMT from United States of America are waiting for data on the index, Chicago PMI (projection 48), and 14.00 GMT - an index of house prices in August from the NAPM (NAPM-Milwakee, projection 49) and the Dallas Fed's manufacturing index (Dallas Fed Manf . Activity, forecast -11.50%).

So, today, we expect lower stock market quotes in early trading, followed by movement in different directions during the day.

Recommendations on RTS Index futures for Monday
Shares of main and distribution companies are the most undervalued from a fundamental point of view
Negative flow from China adds uncertainty about the long-term trend for reviving the global economy
The worst of the market today can be shares of MMC Norilsk Nickel
In the energy sector the most important news may be a revision of investment programs for energy companies Gazprom
Significant trading ideas the market will get only in the second half of the week
MICEX Index has consistently failed to go above 1100 points, but not in a hurry to fall below
On Friday, stock indexes in the United States showed a downward intraday dynamics
Britain calls on European countries to increase contributions to the IMF