By 11:00 Moscow time the Russian stock indices show a moderately negative: RTS (-0.3%), MICEX (-0.56%). Opened a small decline, Russia's frozen platforms at these levels. This contributes to a negative trend at the opening of European stock exchanges: English FTSE falling to 1.0%, French CAS40 loses 0.8%.

inexpressive dynamics at the opening to support a small decrease in quotations of oil futures and the U.S. indices, despite the fact that yesterday's closing in the United States was in the positive zone, even against the backdrop of a weak real estate market and inflation. Dow Jones closed at 9217.94, paragraph mark, which corresponds to the growth of 0,9%, S P500 at 989.67, paragraph (1,01%).

in the oil market on Wednesday, we have seen a slight decline. Price nearest futures contract for WTI crude oil grade is 70.6 U.S. $ /barrel.

Prices most liquid shares on the MICEX as follows: Gazprom - 149.22 EUR (-0.61%), Lukoil - 1424.00 EUR (-0,46%), Rosneft - 180,00 EUR (0,56 %), MMC Norilsk Nickel - 3211 EUR (-1.2%), Sberbank - 45.19 EUR (-0.79%), VTB - EUR 0.0435 (0.93%).

Recent highlights the following important messages:

SeverStal distributed information about the intention to take up to 45 billion rubles in the domestic market. We believe this news is moderately negative for the company, since the effective rate on domestic borrowing is unlikely to be below 15-16%.

We believe this news is moderately negative for the company, since the effective rate on domestic borrowing is unlikely to be below 15-16%. Our 12-month target price of ordinary shares of Severstal at $ 6,5.

Kuzbassrazrezugol circulated a formal report on the commissioning of the mine Baykaimskaya a design capacity of 2.5 million tons of coal a year. We believe that continued development of the raw material base, even in difficult economic circumstances, should please investors. Our fair valuation of ordinary shares Kuzbassrazrezuglya is $ 0.33, the potential growth of 53%.

Further dynamics of Russian sites will be determined by oil prices and the movement of U.S. stock indexes. At this time the Russian index does not have a pronounced trend, so refrain from shopping, until the situation is not better defined.

Activities at the Russian sites remain low, investors will again look for ideas on the domestic market
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