Alpha gives good

Morning background for the Russian market morning looked fairly positive. U.S. court on Thursday shut down the growth of confidence. In particular, DowJ added 0,92%, a broad market index SP 500 rose 1.19%, and high-NQ Composite gained 0.84%. In addition to overseas sites positive added Asia, where the indices gaining from 1.5% to 2.4%. Of the significant global events of today are expected statistics on U.S. GDP for the second quarter, the consensus-forecast: -1.5%. Out of the statistics may seriously change the dynamics in all the world's stages, at least until the end of trading session.

In addition to the world's stock of positive sites added product markets, which also rose today, a broad front. More on the other drew their attention to the growth of nickel and copper, are added to 3.4% and 1.8% respectively. This fact is predetermined and the dynamics of Norilsk Nickel, which even before the opening of many analysts put the market in the favorites, at 16.00 GMKN gained 1.5%. The only thing that marred the opening of today, it quotes the oil. For example, Brent adjusted to 0.5%, which in turn has some pressure on the market. In general, the Russian market today, not in a hurry otygryvat external positive and open the gepom up, adjust, and only in the second half of the day came in the positive zone.

Of the notable events of this week is worth noting the agreement Alfa Bank to restructure the debt of the GAS. Consent of Alfa-Bank to restructure the debt of the GAS removes the threat of bankruptcy of the company, as well as the consent of the other creditors have already been received. The total debt of the company - some 40 billion - plans to restructure under the following conditions: interest rates are beginning to be paid in six months, but the amount of principal debt - in two years. The interest rate will be 17% per annum in 2009 and in 2010 the rate determined by the formula refinancing rate, the CBR set, plus 4%. The estimated fair value of 1 ordinary shares in OAO GAZ is $ 21.9, and 1 preferred share - $ 10.9. We believe that this news could be a driver of growth of quotations of the company's shares over the medium term.

Analysis - Results of the day
The market of Russia will continue its upward movement, at least in the short term
The index of the Frankfurt Stock Exchange Xetra DAX fell 2.56 point, the index of the London Stock Exchange FTSE 100 rose 3.16 point
While bidding to develop the metallurgical sector: Severstal (4.5%), CMI (1.4%), NLMK (1.4%)
Leaders today are paper VTB, the growth associated with the collection of applications from shareholders to use the priority to buy additional issue of shares
Dow Jones hits a maximum of the maximum and are drawn to the euro
Support 1.4000 nevertheless been able to stop the fall of the euro
Goskomstat: Average charges for zhilkomuslugi in Ukraine in June increased by 31.8%
Opinion: The devaluation of hryvnia prior to the allocation of the IMF tranche - a sign of close games in exchange for the NBU command