key event of the week will be a meeting of the FOMC

decline of world oil price indices and spoke in favor of opening Russia"s stock market in the red zone. We continue to advise you not to dramatize the situation, and we expect significant growth in Russia"s stock market in the current quarter to 1800-2000 points on the RTS index.

The key event of the week will be a meeting of the FOMC. Guide to the Fed"s regular meeting of Federal Open Market Committee January 26-27, probably tacitly acknowledges that there is little that can be done to ensure a more rapid recovery of the U.S. economy. The Fed is likely to carry out his plan and complete the purchase of mortgage securities at the end of March, will turn the emergency loan program in February and will maintain interest rates at zero in the coming months. Politics of American monetary authorities is the main intrigue of this year, and traditionally would have a significant impact on commodity markets and emerging markets. The tightening of monetary policy the Fed bears the main factor contributing to the current year, however, from our point of view, the bulls have not1000yet said their last word.

American statistics on sales of existing housing 18.00 Moscow time will have a significant impact on the outcome of today"s trading.

President of Tatarstan Mintimer Shaimiev appealed to the President of Russia Dmitry Medvedev with a request not to consider his candidacy for election to another term. The new president will likely be the current Chairman of the Tatar government Rustam Minnikhanov. From our point of view, this news is neutral for the business environment in the region and securities Tatneft in particular. It is unlikely that news will affect the capitalization of the leading companies in the region. We continue to recommend to pay attention to the preferred shares of Tatneft because of attractive dividend payments.

Alexei Kudrin does not rule out that Russia"s companies in the future may go to the calculations in rubles in the supply of oil for export. In principle, this political decision, which can be easily implemented by the state control of Rosneft and Gazprom. However, from our point of view in the foreseeable future the supply of rubles are possible only within the CIS.

Gazprom applied to the German E. On the principle of take or pay in full. E. On had to pay 500-700 million dollars for unselected in the 2009 gas. Gazprom has also satisfied the claims of the Germans in the delay asset swap deal on the South-Russian field. As a result, E. On Gazprom should pay only $ 140 million before the end of January. Amount for Gazprom certainly not very significant, however, the rigid position of the gas holding on the principle of take or pay can not but rejoice.

Severstal in talks to sell a controlling stake in the Italian Lucchini, if the deal goes through, it will be welcomed by the market, because will reduce the company"s debt. NLMK has published a neutral operating results for the fourth quarter of 2009.

After Drawdown Russian sites occurred at the end of last week, the market is ready for technical rebound
Today at the opening of the expected gradual decrease in quotations on the full range of liquid securities
In early trading the MICEX index falls below the 1400 points
Today the opening of tenders is expected to near previous closing levels on the equity market
In 2009, "IDC Center and Volga Region" attached to their networks more than 15 thousand consumers
Vladimir Putin instructed to develop a comprehensive strategy for the development of the North Caucasus Federal District
U.S. stock indices closed lower on Friday assured
On Friday, the U.S. stock market dominated by pessimism
Logistichnoe decision