The current year began with a nice growth for the majority of bidders. The RTS index over the past week rose by 10.80% and the MICEX index and ММВБ10 went up by 7,51% and 8,86%. It should allocate shares of metallurgists, which since the beginning of the year significantly added to its price. Severstal”s shares added 46.00%, Mechel 29,90%, 27,90% MMK and NLMK more than 8,00%. Our market is in no hurry to be adjusted, the money coming into the market, can hold its position. Index ММВБ10 is already on pre-crisis levels.

At the Asian markets there is no unity. Japanese index (NIKKEY) fell by 0,83%, the index of Hong Kong (Hang Seng) gained more than 1.00%, Korean index (KOSPI) fell by 0.09%. Indices of China: CSI200 and the Shanghai Composite went up by 0,40% and 0,30% respectively.

The commodity markets have been mixed dynamics. Futures Brent crude continued to be adjusted. To date, the price is - $ 76.68 per barrel (-0.55%). As prices for gold is developing short-term trend upward. Currently, quotas are consolidated on growth. The price is - $ 1,138.60 per troy ounce (0.71%). In the market of industrial metals, for the most part, there is a growing movement: Copper (2.45%), lead (1.62%), nickel (0.98%), Zinc (1.00%), Silver (2,05 %) and tin (-0.58%).

This comment I want to dedicate shares ammophos.

Ammofos (RTS: AMMO) - Russia”s largest producer of phosphate fertilizers with a share of about 35% of the total production of phosphate fertilizers in Russia. The key risks of investing in stocks Ammophos traditionally considered the risk of compulsory redemption of minority shares of the Group FosAgro which controls at least 95% of the share capital ammophos. However, to date, this risk is virtually non-existent, since the timing for the announcement of compulsory redemption has passed. We believe that in the long term FosAgro go to buy shares of minority shareholders in Ammofos, although it will have on the market price or significantly higher. Negative factor for Ammophos will transition to customer-owned scheme in the production of diammonium phosphate (DAP) from 2010 to 2012, GG. Despite this, Ammophos remains extremely cheap by: P /E”10 = 3,7; EV /EBITDA “10 = 0,8. On the balance of Ammofos”s net cash in the amount of $ 181 million (accounting for 9 months. 2009, according to RAS), as well as a stake Apatit market value of $ 276 million target price - $ 220.

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The level of support for fixed-term contract on RTS index performance in March for today - 158 950 points
The dynamics of trades within the day will depend not only on the situation on the oil market, but also on the news from Europe and the U.S.
In the growth leaders today were shares of steel companies, which is also supported by positive news about the Rusal IPO
In relation to many developing markets of Russia”s market now looks cheap enough
After lunch, the market of Russia will be possible to release reporting Citigroup, and which will form the basic dynamics of the movement of stock and commodity markets