Nonetheless, most market participants to keep in mind the technical picture of the U.S. stock market, where stock indexes have fallen on key support, from which there is a continuing until very favorable liquidity conditions, we can expect one more hike up at least The technical rebound. Trigger for this could serve as optimistic data on the dynamics of the American economy in the IV quarter of 2009, according to forecasts that few doubted. For this reason, the continuation of the morning selling the most liquid securities not been enthusiastic supporters that helped to stabilize the market above the minimum, which formed in the first hour of trading, and reducing volatility to the output statistics.

The publication of these data showed the validity of such hopes. U.S. GDP in the IV quarter grew by 5.7% (maximum of 2003), substantially exceeding the average forecast of the market (4.7%). The main contribution (3.4 PP) has made this achievement statistics for stocks in the beginning of a cycle of replenishment deserted warehouses. Pleasant impression stimulated an increase in investment, mainly in equipment and software. After completion of the program “cash for avtohlam” contribution of consumer spending, dropped to 2%, however, it also was higher than forecasts of experts.

To the fact that such strong data, together with an increase in the index of personal consumption expenditure (1.4% y /y) above progozov (1.3% y /y) can bring the moment of tightening monetary policy the Fed, market participants have not been given a some attention. As a result, in all markets and Russia”s stock also returned the enthusiasm to buy. Thereafter, it increased the excellent data on business activity index of purchasing managers in Chicago (61.5 against expectations of 58.7), as well as more optimistic than the consensus forecast of 73 p. index of consumer confidence from the University of Michigan P. 74.4

Analytics - the outcome of the day

Energy, World Stock Market, Currency, Weather …

Opening of the American stock indexes are now expected to top
Lose in a price rally metallurgical companies: NLMK (-3.9%), Severstal (-2.9%), MMC Norilsk Nickel (-1.6%)
At 16.00 Moscow time the price index value RGBI was 130.71, compared with the closing of Friday, it rose by 0.031%
Annual general meeting of shareholders “Tatneft” will be held June 25 in Almetyevsk
In 2010, TNK-BP will focus on the Yamal, Uvat and Verkhnechonsk projects
Proceeds of the KLA in 2009 grew 18% to 114 billion rubles
On Monday morning prices on the London Metal Exchange are stable
Euro still falling

Meeting of Prime Minister with the leaders of the largest banks held at the National Bank of Ukraine last week. The initiator of the meeting was very Yulia Vladimirovna, who has asked the National Bank head Volodymyr Stelmakh help the Government with the filling of the budget. According to participants of the meeting, it ran “quite ridiculous”. “Apparently, Prime Minister hoped that the meeting will be to the head of the NBU, but he asked her to preside over a meeting and tell us about your request. It was evident that Yulia Vladimirovna slightly ill at ease, - says one of the participants in the meeting .- She obviously did not want to ask Stelmakh us for help after the shaft critics who attacked the system in 2008-2009.. ”

According to bankers, Ms Tymoshenko told a fairly weak indicators of budget execution. They say the economy is still suffering the consequences of the crisis, many businesses ended the year with a loss, so the upfront payment of taxes on profits are very small. Premier commended the size of the state budget deficit for January-February 7 billion UAH.

“We were asked to support the Government and to buy state bonds for six months at a rate of 21% per annum, - says one of the participants in the meeting .- Premier would receive 4,6 billion UAH. but bankers are reported to acquire securities in the amount of about 2 billion UAH.. It was made by the National Bank kvazigarantom the deal by promising to buy Government Bonds from the banks for five days before the date of their maturity, if the government will be difficult with the implementation of debt.

At issue Prime Minister, why bankers do not want to buy in such circumstances, the whole amount of his proposed six-month Government Bonds, financiers complained about the lack of a meeting of Privatbank, which the National Bank refinancing extended for a year on 3,5 billion UAH., moreover, that 20% of assets bank - is liquidity.

However, on the basis of the results of last week of the auction, the Finance Ministry managed to collect only 0.8 out of 2.1 billion UAH. that bankers have promised to the government. In particular, the paper purchased Ukrsotsbank, UkrSibbank, Raiffeisen Bank Aval “and” Citibank (Ukraine). The latter overestimated the rate of return on paper - instead of the stipulated 21% per annum, the bank put up the proposal with the rate of 22,5%.

According to one banker, the consent of the Ministry of Finance on the profitability of such securities could cause a failure of other financial establishments from the transaction. “I can not explain its Head-office, why I buy paper with 21% yield, while the same paper can yield 22,5% per annum,” - said the banker. However, he does not discard the possibility that the Government Bonds on 1,2 billion UAH. TAP will be the Ministry of Finance as soon as possible, “if they are guaranteed equal conditions for all banks”.

Indexes in Europe have grown on 0,8-1,4% on good reporting companies, statistics from the U.S.
Shares of Gazprom - one of the few leading papers that are now traded in the market better
In the near future Russia”s stock market will stabilize and continue to rise
Shares of Gazprom (0.6%) show better dynamics in the oil and gas sector, the reporting company revived investor interest in securities
Dmitry Medvedev approved the DOCTRINE food security RF
Asian stock markets continue to decline against the background of data on industrial production
Overview of the oil market for 29.01.10
Entry into force of the treaty on the transfer of banking data to the U.S. authorities
Russia”s GDP up to 2009 declined by 7,9%

representative of the Central Bank of China said on Monday about the planned reduction of excess production capacity in the country.

However, the index of procurement managers in China, produced by the China Association of Logistics and Procurement (China Federation of Logistics and Purchasing), fell to 55.8 points in January from 56.6 points in December, suggesting a slowdown in production growth in the country.

Composite stock index MSCI Asia Pacific Asia Pacific declined by 0,9% - to 115.79 points. In January index lost 3%, as the central banks of China and India increased reserve requirements and gave warning of further tightening of monetary policy.

Japanese Nikkei 225 index sank on Monday at 0,2%, Hong Kong”s Hang Seng lost 1.2%, Chinese Shanghai Composite - 2%.

Losers are shares of Chinese companies, the real estate industry, as Morgan Stanley recommended their sale.

“Markets remain at the lower rate because of fear of further deterioration in credit policy”, - said an analyst at Barclays Wealth in Singapore Menprit Gill.

Share prices of Chinese steel producer Maanshan Iron Steel Co. fell by 2,5% because of fears the reduction of excess production capacity. The largest company sector, Baoshan Iron Steel Co. reduced the capitalization of 0,5%, Hebei Iron Steel Co. - By 3,3%.

Rate

securities of Japanese automaker Honda Motor Co. decreased by 3.6% since the company is forced to withdraw a number of car models in North America and Britain because of problems with windows.

share price

Toshiba Corp. fallen by 5,6% after the deterioration of the forecast revenue for the current fiscal year.

The worst of the market traded Gazprom Neft and Rosneft, the better the market feels the regional sector “telecom”
In Russia the market realized the expected correction in the falling trend
Analysis of the futures and options VTB
Shares of metallurgical and oil and gas sectors traded “good market”, the greatest losses are NLMK, Gazprom Neft and Rosneft
Recommendations for market shares: LUKoil, Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank “
Exam for the dollar
Asia: week started declining regional indexes
OL initiates an extraordinary session of parliament on February 3 this year
Valuable trillion

For the contribution 5000,00 UAH offers banks fluctuate in following ranges:
For 1 month - 3.00% - 22.50% per annum, while 22.50% - Delta Bank;
At 3 months - 10.25% - 24.00% per annum, while 24.00% - Aktiv-Bank, Delta Bank;
At 6 months - 12.25% - 24.50% per annum, with 24.50% - Delta Bank ERDE Bank;
for 9 months - 12.50% - 25.00% per annum, with 25.00% - Delta Bank;
At 12 months - 15.00% - 25.50% per annum, while 25.50% - Delta Bank;
At 18 months - 15.25% - 25.00% per annum, while 25.00% - ERDE Bank;
At 24 months - 14.30% - 24.50% annum, while 24.50% - First Investment Bank, Porto-Franco;
for 36 months - 13.10% - 23.00% per annum, while 23.00% - Kreschatik.

most common kind of you:
For 1 month - 20.00% per annum, representing 83.33 UAH per month - are offering: Diamantbank, Contract, UPB.
for 3 months - 22.00% per annum, representing 91.67 UAH per month - are offered by: Bohuslav, Diamantbank, Contract, UPB .
At 6 months - 22.00% per annum, representing 91.67 UAH per month - are offered by: Golden Gate KB, Credit Dnepr KB, Kreditprombank.
for 9 months - 20.00% per annum, representing 83.33 UAH per month - are offering: Arcade , Expobank.
12 months - 23.00% per annum, representing 95.83 UAH per month - are offered by: Contract Kreditprombank, Khreshchatyk.
At 18 months - 20.00% per annum, representing 83.33 UAH per month - are offering: Platinum Bank, Arcade.
At 24 months - 23.00% per annum, which is 95.83 UAH per month - offer: Contract Khreshchatyk.
for 36 months - 13.10% per annum, which is 54.58 UAH per month - offer: Forum.

;

For the contribution 1000,00 USD offers banks fluctuate in following ranges:
At 1 month - 3.50% - 12.00% per annum, while 12.00% - Delta Bank;
At 3 months - 6.75% - 13.50% per annum, while 13.50% - Aktiv-Bank, Delta Bank;
At 6 months - 8.75% - 14.00% per annum, while 14.00% - Aktiv-Bank, Delta Bank;
At 9 months - 8.50% - 14.25% per annum, while 14.25% - Delta Bank;
for 12 months - 8.50% - 14.50% per annum, while 14.50% - Go Bank, Delta Bank;
At 18 months - 8.50% - 13.50% per annum, while 13.50% - Contract;
At 24 months - 8.50% - 18.25% per annum, while 18.25% - Kredobank;
At 36 months - 9.50% - 13.80% per annum, while 13.80% - ExpoBank.

most common such proposals:
At 1 month - 10.00% per annum, which is 8.33 USD per month - offer : The contract, Piraeus Bank ICB, ERDE Bank.
for 3 months - 11.50% per annum, which is 9.58 USD per month - offer: Diamantbank, Credit Dnepr KB, Khreshchatyk, Expobank.
At 6 months - 12.00% per annum, which is 10.00 USD per month - are offering: Diamantbank, Credit Dnepr KB, Khreshchatyk.
for 9 months - 11.25% per annum, which amounts to 9.38 USD per month - are offering: Kredobank, Piraeus Bank ICB.
At 12 months - 13.00% per annum, which amounts to 10.83 USD per month - are offered by: Bohuslav, Diamantbank, Kreditprombank, Khreshchatyk, First Investment Bank.
At 18 months - 12.00% per annum, which amounts to 10.00 USD per month - are offering: Platinum Bank, Poltava-Bank KB.
At 24 months - 13.50% per annum, which amounts to 11.25 USD per month - offer: Contract ExpoBank.
for 36 months - 9.50% per annum,which amounts to 7.92 USD per month - offer: Forum.

;

For the contribution 1000,00 EUR offers banks fluctuate in following ranges:
At 1 month - 2.00% - 11.00% per annum, while 11.00% — CREDIT Dnepr KB;
At 3 months - 4.00% - 13.50% per annum, while 13.50% - Delta Bank;
At 6 months - 5.50% - 14.00% per annum, while 14.00% - Delta Bank;
At 9 months - 6.00% - 14.25% per annum, with 14.25% - Delta Bank;
At 12 months - 6.00% - 14.50% per annum, with 14.50% - Delta Bank;
At 18 months - 6.00 % - 12.50% per annum, while 12.50% - Kreditprombank;
At 24 months - 6.00% - 14.50% per annum, while 14.50% - Porto-Franco;
for 36 months - 8.80% - 11.65% per annum, while 11.65% - ExpoBank.

most common such proposals:
At 1 month - 8.00% per annum, which is 6.67 EUR per month - offer: Agrocombank, Diamantbank.
At 3 months — 10.50% per annum, which is 8.75 EUR per month - offer: Diamantbank, Kreshchatik ERDE Bank.
At 6 months - 11.25% per annum, which is 9.38 EUR per month - offer: Contract Khreshchatyk, First Investment Bank.
On 9 months - 11.50% per annum, which is 9.58 EUR per month - are offered by: Golden Gate KB, Contract, Khreshchatyk.
12 months - 11.00% per annum, which is 9.17 EUR per month - are offering: Agrocombank, Poltava-Bank KB, Expobank .
At 18 months - 11.50% per annum, which is 9.58 EUR per month - offer: Contract, Poltava-Bank KB.
At 24 months - 11.50% per annum, which is 9.58 EUR per month - offer: Contract, Poltava Bank KB.
for 36 months - 8.80% per annum, which is 7.33 EUR per month - offer: Ukrgazprombank.

;

Attention! Higher rates on deposits and other bonus programs bank located in the “Bank”s financial results”.

review is prepared on the basis of data from 24 Ukrainian banks.

released on Friday, according to preliminary data, GDP growth in the U.S. 4 th quarter of 2009 surpassed the most optimistic expectations of U.S. experts and was 5,7% (to level 4 quarters of 2008) against the market consensus forecast of 4.8%. Index of personal consumption of citizens for the same period increased by 2% compared with the forecasted 1.8%.

Completion of the trading session on Friday in the United States marked the decline of the major stock indexes on 0,5% -1,5%. At the same time, European platforms, managed against a background of strong output of financial statements and statistic data from the U.S. to stay in positive territory.

The week started a corrective mood of investors commodity and stock markets are likely to continue. At the same time as last week, a series of expected news will be able to interrupt it for a while: in the United States will be published a lot of interesting statistics, foremost among which will be the January statistics on the labor market to spiral on Friday, the Bank of England and the ECB will hold meetings on Thursday, the outcome of which will be voiced interest rates and plans for further monetary policy in the regions.

On Monday, U.S. President Barack Obama will report on the country”s budget for 2011 fiscal year, will be sounded at the same time reducing the prospects of the budget deficit over the next few years.

Metal Market
The metals market as well as on most of the world trading platforms, continues a downward trend. Friday all the major industrial metals on the LME, with the exception of nickel, finished lower cost, thereby reinforcing the negative results of last week.

The day copper has lowered 2,2% of market value - up to $ 6745 per ton, the same number of lost and zinc, stood at $ 2,110. The reduction in tin prices was 2%, this metal is entrenched at around $ 17,200 per ton. Quotes of lead fell by 1,6% - 2025 $. Contracts for aluminum fell 1.4% (2079 $).

In the week leading up to reduce steel futures on zinc, which have lost more than 10% of the cost.

Nickel in contrast to other metals on Friday has risen in price (0,8% - to $ 18500), it helped him stay in positive territory on the results of the week.

On Monday morning prices on the London Metal Exchange are stable, dominated by downward dynamics.

Market Oil
Despite the upward movement of prices in morning trading on Friday, the end of trading last week was marked for the oil market lowered the cost.

The March neftefyuchersy London Brent fell on the last trading day of the week at 0.9% and stood at 71.46 dollars per barrel. The contracts mark WTI have become less cost by 1%, entrenched at the level of 72.89 dollars per barrel.

The reality on the oil market is not encouraging to investors. And although this year marks a particularly cold winter season, demand for petroleum products continues to remain at record low levels. Thus, in the U.S. daily average consumption of oil last week was 18.884 million barrels a day - the last time this level of demand at this time there was more than 7 years ago.

At the beginning of a new week, the situation has not changed, the morning of hydrocarbons are traded with a slight increase in prices.

Russia Market
External background, formed on Monday morning, clearly has to sell. Quotes oil traded significantly below those marks that domestic traders caught on Friday, the U.S. indicesfell on the results of the previous trading session on 0,5-1,5%. Indices of the Asian region mostly lower. The only indicator that is sending positive signals in the morning and giving hope to rebound within a day, it”s futures “on America.” But their growth is still very restrained - under 0,3%.

Today, U.S. Department of Commerce will publish the figures in consumer income and expenditure of U.S. citizens for December (16:30 Moscow time.), as well as PMI in industry (ISM Manufacturing) for January (18:00 Moscow time).. Perhaps out of these indicators would adjust to the dynamics of Russia”s stock market, which today is seen negative for most of the trading session.

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Analyst Ratings

In the early hours of the session on Russia”s market bidding will take place in the “red zone” in the future expected volatility countervailing dynamics
Railways have a patent strategy to 2030
Annual turnover of “Yandex” has grown by 14% and amounted to 8.7 billion rubles
Trading on the American sites have opened growth of the main indexes
Forex Market 01/02/1010
Milestones week

Lutsenko hung, Chekhov became a poet, Litvin gone over …

Dances of all

priority of the new president will be the sponsors of the compensation of costs incurred by them …

Forex Asia
In Russia”s market under the effect of falling oil prices continue to sell, the negative dynamics can be preserved until the end of the day

Dynamics
Quotes of the oil market on Friday 29 January to results of the auctions closed with a decrease in value against the background of strengthening U.S. dollar on the foreign exchange market, FOREX, and also because of the negative dynamics of equity markets and adjacent areas.

At the New York Stock Exchange NYMEH the March futures price of U.S. crude fell by 0.75, or 1.0%, and its price was 72.89 dollars per barrel.

The exchange ICE in London, Brent crude futures price fell 0.67, or 0.1%, to 71.46 dollars per barrel.

Causes
On Friday, Jan. 29 quotes on the market of “black gold” closed with a decrease in price under the following factors: 1 - strengthening of the dollar in the FOREX market against the backdrop of economic output makrostatistiki and news (GDP growth in the U.S. for 4 — First quarter was 5.7% while the forecast 4.6%), 2 - negative dynamics of the stock sites, where the major U.S. stock indices closed in the red zone (Dow Jones industrial average - 10067.33 (-53.13, or -0.52%), Nasdaq Composite - 2147.35 (-31.65 or -1.45%), SP 500 - 1073.87 (-10.66, or -0.98%)), 3 - reduction in adjacent markets, namely the drop in market prices of precious metals, 4 - on the eve of holidays, many investors chose to lock in profits some open positions that negatively impact on the oil quotations.

From the news it is worth noting that the “Transneft” has summed up results of the tender for selection of contractors for the construction of the second stage of the pipeline “Eastern Siberia - Pacific Ocean (ESPO-2): the winners of the four lots have become the company Stroitransgaz, Stroynovatsiya “,” Mezhregiontruboprovodstroy and Stroygazkonsalting. “Stroygazkonsalting will undertake work on site, which will be held in the same corridor with the gas pipeline from Khabarovsk to Vladivostok, which is now building Gazprom. As a result of tenders Transneft was able to save over one billion rubles. Contractors, in particular, have provided additional discounts.

What to expect?
Many analysts point to the fact that oil prices are still within the trading range of 70-80 dollars per barrel and may have potential for further growth. The close relationship between oil prices and U.S. dollar is expected to continue to set the tone for trading on the oil market.

Why worry?
The main negative factors in the oil market are U.S. dollar and the technical picture, namely, the psychological and technical level of $ 80 per barrel, which does not allow to pass higher oil prices, thereby encouraging market participants to lock in profits on the open long positions.

Overview of precious metals market for 29.01.10

Dynamics
On Friday, Jan. 29 quotes for gold and silver closed with a decrease in value against the background of strengthening U.S. dollar on the foreign exchange market, FOREX, and also because of the negative dynamics of neighboring markets and equity grounds, but later quotes almost completely restored the lost ground due to purchases on technical factors.

As a result of trading on the COMEX, division of the New York Mercantile Exchange (NYMEX), quotes gold futures dropped to 1.00 to U.S. $ 1083.80 per troy ounce, quotes, silver futures fell 2 cents to 16.19 dollars per ounce.

Causes
On Friday 29 January futures on precious metals have completed trades with a decrease in price under the following factors: 1 - strengthening of the dollar in the FOREX market against the backdrop of economic makrostatistiki and news (the U.S. government reported that U.S. GDP in the 4 — quarter grew by 5.7% - the data is much higher than forecast, the projected growth of 4.8%, while PMI (PMI) and Chicago”s Consumer Sentiment Index University of Michigan, published later, also turned out to be better than forecasts), 2 — negative dynamics of the stock sites, where shares of the major U.S. stock indexes closed in negative zone (Dow Jones industrial average - 10067.33 (-53.13, or -0.52%), Nasdaq Composite - 2147.35 (-31.65, or -1.45%), SP 500 - 1073.87 (-10.66 or -0.98%)), 3 - reduction in adjacent markets, namely the falling price of oil market; 4 - technical reasons - the sale of gold could be partly due to the fact that futures failed to hold above U.S. $ 1100.00 in recent attempts growth, while every time quotes fall into the lower part of the district in 1080 dollars, a relatively good demand, which prevents further decline.

During the session, platinum futures followed gold futures, but it is better they bargained. Thus, when futures for gold has risen from lows, platinum has risen in price too. Moreover, the continuing demand associated with stock-market index funds, continues to have a positive impact on platinum. The new index funds on platinum and palladium to start trading in the U.S. this month. These funds create a physical demand as the metals themselves are placed on deposit as security for their shares that are traded like a stock market instruments, but follow the price of the relevant raw materials. Some support might also have reported that Toyota, may have found a solution to the problem that caused the delay in sales of several models of cars of this company in the United States.

From news can note that the international (gold) reserves of Russia for the period from 15 to 22 January 2010. decreased by 5.8 billion dollars and in percentage terms approximately on 1,3% - to 441,4 billion dollars to 435.6 billion dollars. Thus, international reserves are at a level first reached in October 2007. Record-breaking - 598.1 billion dollars - the international reserves reached 8 August 2008. Compared with 1 January 2010. When the volume of international reserves of Russia amounted to 440.6 billion dollars, this figure decreased by 1.1%.

What to expect?
Traditional purchase of precious metals in the early years of the funds, the overall improvement in investor sentiment, as well as decrease the U.S. dollar will provide sustained support to the quotations of gold and silver. However, the situation could change dramatically if the dollar will resume its strengthening, as the inverse correlation between the dollar and the prices of precious metals continues.

Why worry?
volatile changes in the currency market may be reflected in the sharp fluctuations of prices for precious metals.

non-ferrous metals market review for 29.01.10

Dynamics
On Friday 29 January the price of nonferrous metals on the London stock exchange finished the trading session with a decrease in value against the background of strengthening U.S. dollar on the foreign exchange market, FOREX, and also due to the fall of neighboring markets and the negative dynamics of the stock pads.

At the London Metal Exchange LME aluminum price closed at 2,061 dollars per tonne.

Copper at the close of the exchange was worth 6853 dollars per ton.

Nickel bidding up the price of 18725 dollars per tonne.

London Metal Exchange index, tracking the dynamics of six metals (index of metals, consists of fixing LME base metals aluminum, copper, nickel, lead, tin, zinc) amounted to 3125.4

Causes
On Friday 29 January the price of nonferrous metals on the London stock exchange finished the trading session with a decrease in price under the following factors: 1 - strengthening of the dollar in the FOREX market against the backdrop of economic makrostatistiki and news (the U.S. GDP in the 4-m quarter rose by 5.7% while the forecast of 4,8%, PMI (PMI) Chicago was 61.5 while the forecast 57.2, the index of consumer sentiment at Michigan State University - 74,4 while the forecast 73,0) 2 - decrease in adjacent markets, namely the drop in oil prices and precious metals, 3 - negative dynamics of the stock sites, where the major U.S. stock indices closed in the redzone (Dow Jones industrial average - 10067.33 (-53.13, or -0.52%) Nasdaq Composite - 2147.35 (-31.65, or -1.45%), SP 500 - 1073.87 (-10.66, or -0.98%)).

From news worth noting that, according to the head of Chile”s Codelco Jose Pablo Arellano, Chilean copper giant, expects that China will remain in 2010. its largest market, which will grow further, and will remain the major consumer products company. In 2009. Codelco, China exported 750 thousand tons of copper - about 44% of its total production. China is the largest in terms of market: the company sold him last year of copper by 3,8 billion dollars, while it is worth noting that the total Chilean copper exports to China reached in 2009. 1,6 million tons (8 billion).

What to expect?
Many analysts say that the policy of financial incentives and a very low interest rates encouraged the purchase of non-ferrous metals. Changes in both factors is not yet in sight, so you can confidently speak about a continuing rise in prices for nonferrous metals.

Why worry?
negative factor in the market of nonferrous metals, according to analysts appear fluctuations in the currency market and economic news, which carry a greater chance of increasing desire to profit-taking by market participants and the development of a deep downward correction.

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Analyst Ratings

Cheap Mortgages
Li Keqiang: Stable RMB exchange rate is a contribution to the global economy
Bankers are retreating in the face of criticism in Davos
Dollar depreciated - a review of cash markets
Fog over

Davos World Economic Forum in Davos of the many global issues clearly responded to only one …

Speculative recommendation on shares of Norilsk Nickel, Gazprom, Lukoil, Sberca4bank and VTB
Recommendations on the shares of Gazprom, Rosneft, Surgutneftegaz, Transneft, RTS Index futures and oil
Higher global inflation and investment risks continue to limit the possibility of growth of quotations, including index MICEX
Dollar exchange rate to the ruble today on the MICEX was 30.41 rubles

Securities transactions are an important element of the strategy Dzh.Gormana aimed at restoring the position of Morgan Stanley after an unprofitable 2009.

According Dzh.Gormana, the investment banking division of Morgan Stanley in 2009 before it had physical contact with stakeholders in cooperation with the Bank of investors and companies.

“We do not have enough people on the ground. We are not implemented in the segment of large customers and at the same time miss many small customers” - said the new CEO of the bank.

In 2009, the trading department of Morgan Stanley gave way to larger competitors such as Goldman Sachs and JPMorgan Chase: Morgan Stanley was unable to take full advantage of the boom in the securities markets, fixed income, commodities, currencies and interest rates. Revenues from operations Morgan Stanley market securities with fixed income in 2009 totaled $ 5 billion compared with $ 17.6 billion for JPMorgan, or $ 23.3 billion in Goldman.

Last year, Morgan Stanley has hired 350 new staff unit operations with securities. However Dzh.Gorman believes that this is not enough. According to him, personnel departments can and should increase by another 25% of the existing population, which is equivalent to finding hundreds of new traders in the next three years.

On the first day of February in Russia”s stock market can go immune to the effects of negative external background
After a morning “gap down likely stabilization of Russia”s stock market
Toward the end of the session may increase trading volume and the formation of a more definite trend
Today the attentiond49of Russian investors will be drawn to statistics by industrial activity in the euro area
In the first ten days of January, “The first cargo company to 5,2% increase in coal transportation from the Krasnoyarsk railway stations
Court of Appeal upheld the FAS Russia and ordered the “daughter” LUKOIL “to pay a fine of 18.391 million rubles
Trading revenue “Seventh Continent” in 2009 rose 12% to 49 billion rubles
European stock markets finished the day in positive territory
Forex: Euro grows up a bit in the Forex against U.S. dollar

Last week of January, was very negative for most areas of the world, Russia was indexed on the basis of the last 5 trading days have changed slightly: the MICEX index lost 0.3%, RTS - 1%. Early February is not promised to change the bearish sentiment: U.S. index on Friday lost 0,5-1,5% in spite of the data exceeded the expectations of U.S. GDP. The U.S. economy in the fourth quarter of 2009 increased by 5,7% compared with the same period in 2008, while the expected growth of 4,5-5%. Dragged the market down the paper technologically sophisticated sector, where the weak expectations and disappointment from Microsoft innovations Apple said the large-scale sales.

At the international currency market on Friday, the dollar managed to significantly strengthen its position, the euro /dollar fell to $ 1,386. On Monday morning the euro rises in price to the dollar, a couple of approaches to re-mark of $ 1.39. Oil prices react to the rise of the dollar declining, minimums Friday - $ 72.3 per barrel (mark WTI), on Monday morning a higher price after the changes in FX ($ 1,72,8).

Trades in Asia on Monday, held at most sites below marks the closing of last week, but the index managed to finish in Japan plus the minimum (0.07%). The Chinese authorities are once again talking about steps to prevent overheating in the economy, besides Morgan Stanley recommended the sale of securities of Chinese companies related to real estate, which helps sales.

market of Russia will begin the day a slight decrease, but this week all the attention of investors will switch to the statistics, which may indicate a strengthening U.S. economy. This may allow the stock markets recover some positions lost last week. Rising futures on U.S. indexes suggest that Russia”s indexes can go in, plus the opening exchanges of America. To support this attitude can and statistics: today published data on personal income /spending and the index of consumer confidence in the U.S.. The main event of the week will publish a report on the labor market in America: it is expected that the number of jobs increased in January.

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Analyst Ratings

Terminals iBox blocked for a week
Russia”s banking system a year working at a loss
Advertisement well itself shows
Steelmakers are returned to the modernization of production
The chances of bankruptcy physical persons tend to zero

few months ago, the most risky of Ukrainians were tempting idea to cheaply get rid of the unbearable credits …

Russia market remains one of the few world sites that are in positive territory since the beginning of the year
At the moment the stock and commodity markets look oversold, and quite possible a quick rebound in prices
Another drop in oil prices once agad0cin is the main negative for the shares of Rosneft, Lukoil, Tatneft
Accelerating the reduction of quotations on the market of Russia in the coming days it is very likely

Causes
favorable report on U.S. GDP for the IV quarter supported a more optimistic statement by the U.S. Federal Reserve, issued earlier in the week. Many investors expect that the key U.S. interest rates will rise sooner than originally projected. This has had substantial support to the dollar. In addition, more positive than-expected data on U.S. consumer sentiment and a high index of Purchasing Management-Chicago, have further strengthened the position of the dollar. Meanwhile, a growing fear of complicating issues in respect of sovereign debt held by Greece, the euro under pressure. Some investors now believe the Fed may raise the key interest rate earlier than the European Central Bank. This, together with debt problems in some countries in the eurozone the euro has a clear outsider. The euro is obviously led to rapid response of the Swiss National Bank. Traders said the bank had intervened in the foreign exchange market at the beginning of the second half of the New York session, to stop the sharp rise in the Swiss franc.

What to expect?
next week is very rich in important macroeconomic data and events. The focus will be to find the meeting of the central banks of Australia, Britain and the eurozone, and the event will be publishing a report on the labor market in the U.S. in January. Perhaps in anticipation of these developments, positive expectations will contribute to further growth of the U.S. dollar, while a strong report on the labor market is able to accelerate this momentum.
At the same time, this will also be presented a series of important data that might impact on the currency. In particular in the United States will be published recent data on income and expenditures of consumers, the price index for personal consumption, as well as the production index of Institute of Supply Management. Strong performance can support the dollar, while unexpectedly weak data is likely to provoke its correction.

In the euro zone and Britain today, will be presented to PMI in production in January. It is expected that in the euro zone, they are consistent with the preliminary assessment, whereas in Britain it would decrease slightly. Moreover, in the UK will present the latest data of the Bank of England lending. According to forecasts, in December saw an increase in credit activity. In the aggregate, the data are unlikely to have significant impact on the European currencies, but in the case of more positive than expected rates of decline against the dollar may be suspended.

Tomorrow morning the Reserve Bank of Australia will announce the next decision on interest rates. Given recent data on inflation in Australia, it is expected that it will again be raised by 25 bps This is likely to have limited support for the Australian dollar, whereas, greater tightening of monetary policy could provoke a marked increase.

Why worry?
On the background of published data can not be ruled a sharp increase in volatility and multidirectional movement of the main currency pairs involving the U.S. dollar.

Russia at the opening of the market is waiting to move dod19wnwards, while the MICEX index will test support around 1400 points
Today, continued decline of commodity stocks, the market can look better “telecom”
Technical analysis of oil prices, U.S. index and a pair of euro-dollar - all spoke in support of domestic “Bears”
In 2009, the company reduced shipments of ChTPZ pipe production by 23% to 1.131 million tons
Sberbank intends to acquire 60% stake in manufacturer”s packaging GOTEK
LUKoil signed a contract to develop West Qurna-2 in Iraq
Net profit of “Gazprom” for 9 months of 2009 under IFRS was reduced by 33% and amounted to 470 874 million rubles
On Friday, the U.S. stock market dominated by pessimism
The U.S. dollar continued to strengthen steadily against the European and “commodity” currencies