speeding locomotive did not immediately stop

Tuesday on Russia's stock market for the first time in the last 7 trading sessions came to a correction. Uncertain growth in stock market indices in the United States and a similar dynamics in the oil market has forced some players to take profits. The strongest action of recent days: Gazprom, Sberbank, MMC, Gazpromneft, and today traded better than the rest of liquid. The RTS and MICEX in the afternoon show on the reduction of one percent. Speeding locomotive can not immediately stop.

It is at such a scenario today's trading, we had expected. Therefore, waiting for the end of the morning Strait, we recommend our customers to purchase securities cheapened Gazprom. We have the opinion that in the medium term, stock markets may continue to rise, so use the local correction of quotations for the purchase of very profitable. In our opinion, the reporting of most American companies for the 3rd quarter again can please the public stock, which will allow overseas indices continue to march to the north, at least until the New Year.

Even though the data are rather weak ZEW index of economic sentiment in October (the index of expectations 56,9, forecast: 61.2, the index of current conditions -75.4), U.S. dollar today continued to weaken against the euro (EUR /USD 1,4865). This raised to new highs not only the price of gold ($ 1068/unts), but also ensured the rise of prices in the market of oil contracts (Brent $ 72,6 /bbl; 1,7%). Bank Goldman Sachs today confirmed its forecast for oil prices to $ 85/barr the end of this year. On this background, our foreign investors have already bought for dinner most of the morning's 1.5% decline. In the future, following the strong growth in commodity prices is expected and the growth of inflationary expectations, which is quite dangerous.

top gainers on our exchanges for a second day are the paper of the energy sector: MICEX PWR 2,1%. If an infinite liquid securities to raise the price becomes dangerous, then convince investors of good prospects for shares of Russia's electric power industry is quite simple, especially given the huge drop in their prices last year.

Strong positions of raw materials and the weakness of the dollar provided a basis for continuing recovery today, the U.S., and therefore our stock indices. If only report today of Intel did not disappoint us.

Not in the gas

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