Despite the emerging corrective movement, our market is truly miraculous persistence, as a positive or a negative statistics. All this brings confusion in the minds of speculators and investors, at the moment does not justify their expectations.

Today, our market has opened growth. Set the tone share platforms America and Asia, ottorgovavshiesya in the positive zone. By 11.00 on the RTS index rising 0.94%, reaching the mark of 1,489.69 points. MICEX and ММВБ10 added 0,83% and 0,75% respectively. Rising oil prices supported by our oil and gas sector: Gazprom (0,89%), Rosneft (1,85%), Lukoil (0,40%) and Surgutneftegaz (40%).

Asian markets, for the most part, completed the trading day in positive zone. Japanese index (NIKKEY) gained more than 1,60%, the index of Hong Kong (Hang Seng) has risen in price on 0,04% and the Korean index (KOSPI) showed a decrease of 0,66%. Chinese indexes show mixed dynamics: CSI200 (0,40%) and Shanghai Composite (-0,22%).

In commodity markets there is no unity. Futures Brent crude hit upon support in the region of $ 71.5. To date, the price is - $ 73.12 per barrel (0.01%). Contracts for gold are consolidated in the range of $ 1080-1160 per troy ounce. Now quotes are growing less than 0.02% - $ 1,105.20 per troy ounce. The market decline of industrial metals: Copper (-0.68%), nickel (-0,36%), Zinc (-0.12%), Silver (-0.03%) and tin (-6.34%) .

I still hold my opinion and do not expect a particularly deep movements in the market. Any correction should be used to build their investment portfolios. Successful investment could be shares of Korshunov GOK, with growth potential over 73% (fair price $ 3311) /

Korshunov GOK: Capitalization - $ 475 million; EV - $ 423 million; P /E 2010 - 5,4; EV /EBITDA 2010 - 2,8; Free-float - 14%.

Korshunov Mining Plant - a subsidiary of Mechel (share 85%), which produces iron ore concentrate (annual production - 5 million tons). The company is one of the most efficient producers of concentrate in Russia at a cost of tons of production at $ 25. The company is well spozitsionirovanna to supply products in northern China, which accounts for about 70% of overall sales. According to our estimates, the company is trading at a market rate of EV /EBITDA 2010 - 2,8. Potential medium-term driver for the company will spring a review of global contracts for iron ore.

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