influx of funds into Russia"s stock will continue

Russia"s stock market finished in 2009 128% growth (in the RTS), leaving behind all the developed and emerging markets, except the country carnivals. The market of Brazil up to 12 months increased by 145%. In the New Year"s day trading on the equity market resulted in a slight increase, which resulted in the RTS index ended the year at around
1444 points, MICEX - 1370 points.

Growth quotations local shares was repeated, up to 7 times the shares Globaltrans. And even worse from the list of liquid shares have demonstrated positive dynamics of prices. Only three of the asset? ? Novosibirskenergo?, "Rostelecom? and the Grid? proved to be unprofitable in the past year.
EPFR Global Recent data suggest that the major groups EM and bond funds ended the year a record inflow of funds. The year started on a passive investment and savings in cash funds and U.S. equity funds, completed a record outflow of funds from these two groups of funds? since the tracking of their EPFR Global. The flip side of the coin was a record flow of funds in the US, Global and High Yield Bond, Commodity and Technology Sector and the Global Emerging Markets (GEM), Asia ex-Japan, Europe and Pacific Equity Funds. Among the best - the funds of China, Brazil, Russia and the countries of BRIC.

GEM Equity Funds since the beginning of the year attracted a total of $ 43 billion
Money funds lost from the beginning of the year to $ 520 billion in total emerging markets equity funds collectively attracted $ 70 billion, while developed markets? $ 61 billion, and bond funds - 292 million
U.S.

In 2010, Russia"s indexes started with 6-8% growth. MICEX by midday on Jan. 11 rose to 1455 points, RTS to 1558 points.

driver of growth were made by the world markets for the holidays added 1,5-3,0% and oil prices jumped 5% to 15-month high.

additional positives were statements by officials of the U.S. Federal Reserve, strengthened the expectations of high liquidity and new legislative initiatives of regulators in China have expanded the possibility of investors in the futures market and margin lending. Russian ADR Prices for the holiday period rose by more than 5%, MSCI Russia index increased by 2,2%.

We look forward to continued growth in Russian stock prices earlier this year, including the influx of Western funds. The latter are generally in this period are freer in their disposal, rather than at the end of financial period. Of the major events of this week, interest in U.S. retail sales, PPI and oil reserves in the U.S..

Analysis of the Futures and Options on RTS Index
Especially well-behaved today feel "Severstal" (16.36%), Rosneft (7.94%) and Gazprom (7.32%)
Recommendations on the shares of Gazprom, Lukoil, Norilsk Nickel, VTB and RusHydro
The immediate goal of growth in Russia"s market can be a level of 1500 points on the MICEX Index
Russia"s stock market in the first trading session of the new year, resumed growth, with the support prices for oil and metals
As leaders of growth in today paper manufacturers of fertilizers, as well as metallurgical and mining
Quotes euro against the dollar in the coming weeks will show some consolidation in the range 1,4300-1,4900
The first auction is always deceptive, no need to rush to do something, because there is still a whole year, and it will be quite difficult
Speculative recommendation on shares of Gazprom, LUKoil, Polyus Gold, Sberbank and VTB