MICEX Index finished the last trading week of 1100 points above the mark. Today's trading also ended the growth of the majority of the most liquid stocks, while the highest increase was observed in the shares of oil and gas sector, as oil prices are near maximum levels since the beginning of the year. The worst of the market looked MMC Norilsk Nickel and some papers of the electricity sector. At the same time continuing to recover shares RusHydro. A further landslide dynamics of these shares probably will not happen again, if no new negative news on the timing of the restoration of the Sayan-Shushenskaya GES.

While many foreign stock indexes have updated their highs Russia's market is 10% of similar levels. From a technical point of view, to move to 1,200 points on the MICEX index to overcome local maxima in the region of 1120 points. This will come, probably, if oil prices also renew their annual highs. Despite the fact that a full correction on Russia's stock market has not taken place, but the most liquid stocks are no longer in a position of technical overbought.

U.S. stock indexes updated highs this year. A similar situation on the German stock market. Among Asian stock indices maxima updated index of South Korea's Kospi. In Latin America, Brazil can be identified, which also led to the replacement of annual maxima.

Today's data on industrial orders in the euro area were quite positive: the growth of orders for the month amounted to 3,1%, well above the expectations of market participants. The figure confirms a weakening of the recession in the euro area. European stocks in the first half of today's trading day show moderate upward momentum.

Current trading week will be rich in macroeconomic data. During the first half of the week might be most important statistics for the United States, publication of which is expected Tuesday or Wednesday: data on the dynamics of house price index, according to SP /CS, consumer confidence index, the index of manufacturing activity, Richmond Fed, the dynamics of orders for durable goods, sales buildings. The above figures are mostly likely to confirm the positive trends in the American economy, the only possible negative - is data on consumer confidence index for August. Statistics, expected on Thursday-Friday, by contrast, can be quite negative. On Thursday, will be published a reassessment of U.S. GDP for the 2 quarter of 2009, in which the expected downward revision, and now the dynamics of GDP will be no -1%, and possibly -1,4% (consensus forecast). However, forecasts from major U.S. banks assume it is the negative dynamics of U.S. GDP at -1.4%, or even worse. Also on Friday, will be published data on personal income and expenditure of U.S. citizens, who may also have a negative impact on the dynamics of foreign stock indexes.

Russia market, in the absence of their ideas, continues to win back the dynamics of external sites
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Current trading week will be rich in macroeconomic data
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Europe: commodity markets was the main cause of growth
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