MICEX after the morning growth returned to yesterday's closing level. No clear factors for traffic in either direction in the market is not

While serious investors are seeking investment objects in Russia, taking part in an investment forum Russia calls organized by VTB Capital, speculators continue to drive share prices up and down in the absence of major drivers for traffic in one direction or another. If the morning the market was optimistic due to rising stock market indices in the U.S., then to dinner, he weakened. Futures on the S P500 went into negative territory, the European indicators and the MICEX Index also traded in the red. Oil - the main indicator of well-being in Russia's stock market - can not rise significantly from the achieved level of support yesterday. Accordingly, and Bole than 4% rise in quotes Russia's oil market that occurred yesterday and this morning, is hardly supported by a corresponding dynamics in commodity platforms. So, after a speculative rise, will inevitably be followed by profit-taking. What we are witnessing today. Rosneft (-1.8%) decreased, not being able to take the line of 230 rubles., Gazprom and Lukoil failed to gain a foothold above the critical levels of 180 and 1650 rubles. respectively. Continuing rise in the shares of Sberbank and VTB. Although the statement Kudrin that in the medium term will reduce the state stake in the capital of VTB, and led the sale of securities of the bank.

The only sector which continues to please investors, confident growth is not the first day continues to be transporting electricity. And FSK (1.3%) and IDC Holding (6%) and individual MRSC (1.5-11%) continue to form the medium-term upward trend. And, perhaps, more interesting ideas in the market is currently not available. There has been little interest in the shares of regional telecom, but after strong growth in recent weeks, we recommend you still stay away from the equities sector, unless marked at least the principles of assessment of the shares in subsidiaries of Svyazinvest for the transition to a single share.

In general, we continue to look up the market, and we recommend pick up the paper on rollback, but be sure to put a short stop-loss. Oil AND, and Russia's stock index for the previous day not so far removed from their key support levels, to relax. Hence, reasons for excessive optimism, no, and it makes sense to capture more profit on open speculative positions. The situation may change at any time. Overlooking at 18.00 Moscow time the index of consumer confidence in the U.S. in September (projected 57 points against 54.1 a month earlier) may well be the determining factor for the dynamics of stock markets today.

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Recommendations for market shares: LUKoil, Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank