United States

Futures on the SP 500 index increased by 0.2%.

Europe

European markets are rising tenth consecutive session, despite the negative data on the GDP of Great Britain. European FTSE Eurotop 100 index adds 0.4%, Britain's FTSE 100 0.6%, German Xetra Dax 0.46%, French Lyxor Cac 40 0.37%.

GDP of Great Britain in II quarter on a preliminary assessment showed a greater-than-expected reduction. UK GDP for the II quarter has decreased by 0.8% in the quarter and by 5.6% year on year. Reduction of GDP in annual terms was the most significant in more than 50 years. GDP is expected to decline by 0.3% and -5.2% respectively. Nevertheless, the market statistics are not frustrated, they are optimistic by the growth index of business activity. Index managers to supply Euro-zone Flash PMI for the manufacturing sector in the euro area in July rose to 46 points in the prediction of 43.5, a similar index for services rose to 45.6 points in the expectations of 45.2.

leaders in improving the stock of financial institutions. Adds banks Royal Bank of Scotland 3.3%, Lloyds 3.2%, Standard Chartered 3.1%, Deutsche Bank 1.8%. At 3% rising shares of financial group Man Group, in the black share of insurance companies. Shares largest mobile operator Vodafone to grow 2% after the company reported growth in revenue as a result I quarter 2009-2010 financial year to 9%, and reaffirmed a forecast for annual profit.

Oil

euro against the dollar began to rise after data on the increased activity and improved economic expectations in the euro area. Movement on the currency market impact on oil futures, which came after a morning decline in the plus. Spot Brent $ 68.95, WTI $ 66.01. Futures mark Brent with delivery in September went up to the level of $ 70 and traded at $ 69.5.

Russia

The Russian market has opened in the neutral zone and tried to escape in the negative, then began to grow. Now the MICEX index back into the neutral zone at 15:20 Moscow time is reduced by 0.02%. RTS Index is growing at 3.24%, this difference is attributable to movements in the currency market, where bivalyutnaya Basket declines by 0.3%. Trading volume on the MICEX stock market was slightly above average level of 36 billion rubles.

the focus remains on steel sector. Today, Prime Minister Vladimir Putin holds meeting on development of steel industry in Magnitogorsk, which discussed a range of measures that will contribute to the development of ferrous metallurgy in Russia. However, it is very important statements were not, Vladimir Putin stated that the State will maintain demand for the products sector. Shares of metallurgical companies still show divergent trends. NLMK 3.1% -0.6% Mechel, CMI -0.8%, MMC Norilsk Nickel -1.5%, -2.5% SeverStal. In the oil and gas sector neutral dynamics, the rise in oil prices has already been played at the close on Thursday. -0.2% Rosneft, Lukoil -0.1%, -1.2% Gazprom, Surgutneftegaz growing only 2.2%. Russian Prosecutor General Yuri Chaika said that the bank with the assistance of the Prosecutor General's Office has returned about $ 1 billion, it is a non-credit. Despite the fact that there is a significant amount of shares of Sberbank -0.2% did not respond to this message.

Outlook

The desire to capture profits from market participants is very large, but the ambient background does not allow to start the reduction. The U.S. and the oil futures in the morning trading in the red, come in, plus, again began to decrease dollar. Important macro-economic data today will not be again, so bursts of activity will be associated with the opening of the U.S. market and data on consumer sentiment index from the University of Michigan, which will be released at 18:00. The truth is, I believe that strongly in the auction will not affect the index. If the strong growth at the opening in the United States will not, then a record profit before the weekend, we did see.

From the technical point of view to the nearest supports standard 1050 points, which we referred to as the upper border of the trade range 880-1050. If the market passes this level, then go to 1200 points. I did look forward to the correction of 900-930 points in the coming weeks. Therefore, I recommend that speculators remain in the money. Medium-term investors and long-term investors to recommend to retain position.

Central Bank of Belarus and Ukraine have agreed to hold a currency swap deal
Banks are returning to equilibrium
The National Bank did not respond to market
Better market looks paper Uralkali (6%), plus a small paper today showed Rosneft (0.2%)
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By the evening can increase sales, and the MICEX index could test 1000 points
As long as growth continues, only in actions Surgutneftegaz and MTS, added more than 2%
Analysis of Futures and Options VTB
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