By 14.50 Moscow time, Russian indices show decline: RTS (-0.4%), Moscow Interbank Currency Exchange (-2.2%). The pressure on the market have had declining oil quotes, as well as the dynamics in the foreign markets. Futures on the sorts of Brent crude oil traded at $ 67.55 /barrel. European indices are also in the red: CAC-40 (-1.26%), FTSE-100 (-0.76%), DAX (-1.67%).

expectations today as follows:

1) ECB's key rate (15:45 Moscow time);

2) data on unemployment in the United States (16:30 Moscow time).

In the segment shares, decisions which are taken on the basis of fundamental analysis point to the fact that news in the fields of electricity and chemistry. Information Non-commercial partnership The Market on the competitive electricity prices in 2009 may have a negative impact on teplogeneriruyuschih companies. Thus, in the European part of Russia, the Urals and is expected to decline in the fourth quarter of electricity prices by another 20-30%. Also expected to fall in consumption on the basis of 2009 to 5-6%. In the view of industry analysts Finam, the realization of this projection would have an adverse impact on the quotes teplogeneriruyuschih companies. I note that the negative can make an additional driver of growth for the shares Rusgidro because for this prediction less relevant.

In the segment chemistry noteworthy information about a contract with a Canadian supplier of potassium Japan. New contract price was $ 700 per ton, which is $ 200 below the price last year. Given the current price level is positive for producers of potash fertilizers. However, more important will be information on the long-term contracts with China and India. According to analytical department of Finam price on these contacts may be in the range of $ 400-450 /t. It is important that even with such a conservative estimate, the Russian companies retain a significant growth potential. We recommend you to purchase preferred shares Silvina with a target price of $ 444 at the end of 2009.

In general, the market situation is characterized by a lateral movement. Thus, the RTS index varies in the range of 930-1000 points. I recommend to keep the speculative position of Gazprom, Rusgidro and Tatneft. Further evolution will depend on statdannyh on United States and Europe.

The price of oil still remains at a high enough level, it supports the Russian market
While oil prices remain near $ 70 a barrel, the stability of the ruble is never exposed
The availability in the market positive stories allows investors to earn in the long
Today in the United States is expected to: a package of labor market dynamics, and factory orders
Asia: Sales of automobiles in the United States огорчили major automakers
The course is kept buying the dollar unchanged - a daily review of the cash markets
Unemployment in the euro area in May rose to 9.5% - the maximum since 1999
Kievskie tax exposed financial and banking fraud with credit for 50 million dollars
MOF is planning a U.S. IPO GM in 2010