As often happens after a significant breakthrough market yesterday was smooth cooling of quotations. Lateral movement lasted all day, and the resulting changes in the securities were differently - even in the course of the day and went neoptimistichnye data on the losses of European banks, but they were unable to cause any significant desire to record long positions. This otygryvalis only a few ideas in separate papers. For example, looked noticeably worse than the market locally perekuplennye until the shares of the Bank VTB, the public reporting of results of I quarter 2009. Reporting on the IAS showed a net loss of $ 20.5 bln. Derived, including through the establishment of reserves for problem loans. These data generally confirm our skepticism to the paper bank.

On the other hand, some papers have been able to bargain better than the market. First of all, this action RusGidro, which predicts that its net profit as a result of 2009 to 84% higher than the figure for 2008, which, moreover, given the crisis that puts the company among the favorites for portfolio investors.

Regarding the situation in the market as a whole, it continues to be a bull, but we emphasize that a reliable foundation for this growth is not, and therefore any significant change in the external background can undo all the achievements of the rally of recent months.

Today :

Leading global markets on Tuesday closed raznonapravleno: German DAX -0,18%, Britain's FTSE -0,24%, DJIA 0,36%. Asian markets this morning, declining, while Japanese Nikkei225 losing -0.68%. Futures on the S P500 drops to -0.31%.

Pair EUR /USD is in the € /$ 1,4386, while USD /JPY - in $ /#165; 94.92. Gold is $ 963.25 per troy ounce, silver - $ 14.59 per troy ounce, Copper - $ 6,049 and nickel - $ 19,440 per metric ton.

Yield for UST-2, 1,19; for UST-10 3,66.

Oil Prices in the last 24 hours have increased by $ 1.12 to $ 74.24 a barrel varieties Brent.

So, today we look forward to attempt correction of quotations of securities in early trades.

At 12.15 GMT in the United States will change data on the number of employees from ADP (ADP Employment Change), and 14.00 GMT - data to change the volume of production orders (Factory Orders) and the composite index for the ISM non-productive sphere (ISM Non-Manf . Composite).

MICEX (Daily):

Better market in today's trades may look stock banks and MMC Norilsk Nickel
Opened a small decline, the Russian court came to yesterday's closing levels: RTS index adds 0,65%, MICEX - 0.42%
Today, 12-00 (Moscow time) is the index of business activity in the euro area services
Overview of the foreign exchange market 05.08.2009
GM-Magna Negotiations are continuing, the parties' positions closer
Exchange will be playing with the new pre-hryvna irritant
The group of deputies from BYuT, NU-NS and PR offers to extend for six months, 13% th dopposhlinu on imports
Minsk has announced that all Russian demands met
Payment of Youlin of thousands could resume by the end of the year