MICEX continues to be in the range of 1100-1130 points on the positive data IFO market reacted to declining

MICEX after an unsuccessful attempt to storm the 1130 points mark today returned to the mark of 1,100 points, losing about 1% on yesterday's closing. Has fallen down during the U.S. trading session at 3% of oil is thus a major factor in pulling the market down. And although today quotes Brent (0.7%) are attempting to win back at least part of yesterday's losses, it has no effect on investor sentiment. By blue chips prevailing profit-taking, while in some there are less liquid securities purchases, leading to significant price changes. In particular, continues to please Severstal (2.6%). As we approach the end of the month and tied to that date, the inclusion of shares of Transneft (6%) in the index MSCI EM, there is demand activation in the shares of pipeline monopoly. After a brilliant record Magnet for 2 quarter 2009 according to IFRS, shares the most effective domestic retailers add 4%.

But the stories listed - it is still a pleasant exception to the background correction of the market. With the exception of Sberbank, all the heavyweights of the domestic market share - Gazprom, Lukoil, Rosneft and GMK Nornickel - kept in the negative zone. The reduction observed in Europe (DAX -0.3%, FTSE -0.2%). Futures on the S P500 lost the whole morning positive, having gone to the zero. It is worth noting emerging in the last two days regularity in the stock markets - the markets have ceased to win back positive for Statistics. Yesterday evening, share indexes have fallen on the positive data on consumer confidence in the U.S. today - overtook analyst forecasts meaning IFO index of economic sentiment in Germany (90.5 points against the forecast of 89 points).

This evening will be more data on sales of new homes in the U.S. (18.00 Moscow time), and orders for durable goods (16.30 Moscow time). On both indicators are expected for the usual summer months, the growth indicators. However, the fact that the markets will react positively to these data, already in doubt.

The figure of 1,130 points remains the resistance level for the index of the MICEX, and until he passed, we recommend not to think about buying new shares.

As leaders of growth are mainly in the company of the second tier: Uralsvyazinform (ap) (5.7%), Severstal (3.8%), Magnet (2.77%)
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