Profit swept markets

In Wednesday trading on Russia's markets were in a positive territory. High level of oil quotes and buying in the shares of the Savings Bank brought the market for a new annual maximum on the RTS index. Nevertheless, the extremely negative data on oil reserves in the United States provoked a swift profit-taking across the spectrum of liquid securities. As a result of trading in the black of their blue chip stocks managed to stay only BEAC and MMC, while the paper oil and gas sector closed in the red.

At the auctions in the U.S. all attention was focused on the results of the two-day meeting of the FOMC. The negative data on stocks of petroleum and petroleum products triggered selling in shares of commodity companies, but the basic movements began only after the publication of the final communiqué of the Fed. In general, investors viewed the results of the meeting as an excuse to take profits: monetary mitigation programs were extended in duration, but their volume remained unchanged. In addition, the Fed plans to keep under strict control of inflation. At the end of the day American indexes fell 0.8-1%.

External background at the opening of Russia's markets adversely. Japanese Nikkei wins back its backlog for 3 days off and is growing at 1.3%. Chinese Shanghai Composite fell 1.4%. London Brent traded at a mark of $ 67.5. Futures on the U.S. S P500 traded in the red by 0.3%.

Today, we expect to see the opening of the market with a gap down to 2-2.5%. Powerful correction of oil and the euro will trigger lock in profits, primarily in securities of oil and gas sector. Sberbank shares recently little ability to predict, but today it is logical to expect them to decline. It is unlikely we will see long-term negative trend, however, to purchases should begin only when the strong positive signals from the western sites.

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