The next level of support for the index Micex speak standard 980 points, after which the market will come to 930-950 items

United States

Futures on the SP 500 index falling by 0.5%.

Europe

European markets are growing, despite the negative dynamics of futures for U.S. indices, the strongest in the last 8 months of the fall of the Chinese market. European FTSE Eurotop 100 index increased by 1.07%, Britain's FTSE 100 to 1.2%, German Xetra Dax at 1.85%, French Lyxor Cac 40 at 1.7%.

support market has a positive reporting Bayer and automobile manufacturers. Net profit at Germany's largest chemical concern Bayer fell in the second quarter by 7.3% to 532 million euros. But exceeded analysts' forecasts of 393 million Shares Bayer grow at 6.1%. European car manufacturers, groups PSA Peugeot-Citroen and Daimler reported the loss to the outcome of the quarter, but shares of automakers are growing, because the losses to be less than expected, but the company reduced inventories of unsold products. Peugeot 9%, Daimler 5%, BMW 3.6%, Man 2.9%. The largest steel company in the world, Arcelor Mittal, on the basis of II quarter has received losses in the amount of $ 792 million against profit $ 5.84 billion received during the same period last year. Expected loss of $ 385 million Arcelor Mittal Shares reduced by 3.6%.

Oil

Oil prices decline before data on the stocks in the United States. Expected increase in stocks yesterday, the American Petroleum Institute (API) reported that oil reserves in the United States for the week increased by 4.1 million barrels., While the expected decrease of 1.3 million today at 18:30 will be the official data from the Ministry of Energy. Spot Brent $ 68.11, WTI $ 67.23. Futures falling by 1.2%.

Russia

The Russian market has opened with gepom down to a sharp decline in the ruble and in the first minute of the trading has lost about 3% to mark the 980 points. However, the market has recovered to the point of 1000 points. Bivalyutnaya basket has risen almost 2%, growth is slowed. At 16:20 Moscow time the MICEX index declines by 1.22%, RTS index at 2.18%. Trading volume on the MICEX stock market on the level of the last days of 38 billion rubles.

better market SeverStal 2.7%, the company announced today the intention to increase by 36% its offer to buy Canadian gold mining company High River Gold Mines. High River Board of Directors unanimously recommended that shareholders accept the offer of High River. The remaining shares sector predominantly negative dynamics, CMI 0.6%, NLMK -1.5%, MMC Norilsk Nickel -3.7%, Polyus Gold -1.8%. Pole reported a decline as a result I half of 2009 gold production by 14%.

in shares of oil companies do not havea common trend. In anticipation of the data on the players prefer not to take action. Gazprom -0.8% -0.7% Lukoil, Rosneft 0.2%, Surgutneftegas 1.2%. In the banking sector is dominated by the sale, since the ruble falling, and growing concerns about the increase in bad debts among European banks. Bank -1.5% -1.9% VTB.

Outlook

At 16:30 in the United States will be on orders for durable goods in the United States, will be published at 22:00 Fed beige book, will become the most important data on stocks of petroleum and petroleum products in the United States, which will be at 18:30. I think that it reserves to define further the dynamics of our market. If the data confirm the growth stocks, which stated API, then a correction in the stock market get worse, and the ruble will start to decline. Local markets overbought, wait a speedy recovery of world economy that emerged after a series of positive corporate reports and gradually go away. Short-term goal I see the level of 900-930 points, a distant prognosis is difficult to do.

From the technical point of view, the level of 1000 points, which acted as the level of resistance is tested as the level of support. The next level of support to address the level of 980 points, after which the market will come to a level 930-950 points. Speculators, I recommend to stay in cash. Medium-term investors and long-term investors to recommend to retain position.

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