“Telecom” love to grow in February

Russia”s stock market opened the week lower on the main index on the background of the continuing negative on U.S. stock exchanges and commodity platforms. As a result of the morning to reduce the MICEX index has not kept support 1400 points, broke it and tested the next level of local support, from which reversal has occurred. Changing attitudes on foreign markets led to a rebound in the Russian sites, which was used for the purpose of speculative profit taking. As a result, MICEX suspended growth near the 21-day moving average.

Until the end of the session, the market will prevail in the consolidation formed during today”s passage. Start Trading in the United States will determine how close the borders will be closed from the domestic market shares. U.S. futures indices indicate the possibility of rebound in the U.S. market at the start of trading after the two failing sessions that would lead Russia”s indexes to highs of the day. Near these levels would recommend to reduce the position, given the continuing negative sentiment on emerging markets - namely, the China market, where the index entrenched below the level of 3000 points.

In the case of penetration of sign technical levels occurring week may determine the medium-term investor sentiment. With consolidation mood for most of the world It is recommended to adhere to a speculative strategy, fixing the profit from the local resistance, and open positions at the local levels of supports. In my view, the signal for the medium-term purchases will be breakout SP 500 index next resistance level, which lies at the top of the short-term downtrend channel (1090 points), as well as the penetration of the pair EUR /USD Resistance 1.4, which will largely depend on the outcome of ECB meeting . The signal for the opening of the “shorts” will be the penetration of local supports - 1060 points on the SP 500 and 1.37 for the pair EUR /USD.

Despite the negative sentiment in the market remained “bullish” ideas. An interesting idea to become Gazprom shares, jumped back in the day up to 2.5% on the results of the financial statements for the III quarter of 2009, which increased the demand for shares by non-residents. Papers of “Gazprom” is an interesting idea of the medium, so I recommend to use the drawdown shopping for medium-term investment.

Rally sentiments distinguished shares of the telecommunications sector, which in February is traditionally a positive month. In my opinion, the paper also is an interesting medium-term idea. The demand for them will warm up the idea of restructuring of Svyazinvest, as well as the idea of dividend yield.

The U.S. economy grew
Forex - in the European session
Bidding on the market place against a background of high volatility, the leaders reduction Rosneft and Gazprom Neft
In the steel sector now dominated by selling on the background of reducing the cost of industrial metals
Now on the market, the weak position of Russia in securities NLMK, they look worse than their steel counterparts
In 2009 RusHydro sent 8.5 billion rubles in technical renovation and reconstruction of the generating facilities
In the 4 th quarter of 2009, Mechel cut coal production by 4% to 5.434 million tons
Net profit of Rosneft on US GAAP for 2009 decreased by 36% to $ 6.514 billion
Overview of the market of precious metals for 29.01.10