Aircraft coming speculative stock of Siberian genkompany - TGK-13, Irkutskenergo TGK-11 - today, falling by 6%

Gap on August 17, supports resistance to the Russian stock market at the moment. Siberian genkompany Stocks fall on the background of growing market

With the sharp rise in oil prices in the data to change the last week of hydrocarbon reserves in the United States, the Russian stock market has, at last, began to be implemented rebound upward. MICEX Index (maximum was 1056 points) rose to the lower boundary gepa of 17 August and stopped here, did not find the power to enter into the body gepa. Stop at the top of the movement of oil (Brent -0.4%) led speculators to record profits after the 3-5% growth of quotations of blue chips literally from 18.30 Moscow time Wednesday. And we share this attitude, considering the growth of petroleum quotations, which occurred on the data for the reduction of oil reserves in the United States only speculative. The point is that the reason for the reduction of stocks was not an increase in consumption, as would be expected to investors, configured to search signs of economic recovery, but only a reduction in imports to 1.4 million barrels per day. And that, in principle, it is logical reaction of oil with an interest in reducing the backlog of inventory.

Actually except for the return of quotations of oil futures toward $ 75 a barrel, and the rebound after the top 20% case falling Chinese stock market (Shanghai Composite 4.5%) positive for a particular market is not there. Under these conditions, the probability of downward movement on the Russian stock market with a view to closing the morning gepov, in our view, than the realization of attempts to break up the body gepa of 17 August. However, unlike yesterday when there was no significant release of macroeconomic data, speculators will now have the opportunity to raskachat market. Apart from the traditional Thursday of unemployment benefits (16.30 Moscow time, the forecast 550 thousand), today will be another index of leading indicators for July and the importance of the industrial index FRB Philadelphia for the month of August (both at 18.00 Moscow time). More interesting is the state of industrial Philadelphia (forecast -2 points) - if it will show the same significant increase, as previously released this week, the industrial index FRB of New York, it can push the players on the stock to a new shopping venues.

Of the individual securities in the Russian stock market today, to probably no one even impossible. Growth rates (more than 2%) are, of course, oil and gas names - Rosneft, Lukoil, Gazprom. On the one hand, it is not surprising, given yesterday's prices for raw materials. On the other hand, it should be noted that a significant contribution to the growth of these securities has made closing short positions that are open to them earlier in the week. And largely due to the closure of shorts, they were able to show better dynamics compared with the traditionally more rapid rise in the shares of smaller companies sector - Tatneft and Gazprom Neft. We once again urge the focus now exclusively on the most liquid securities, do not get into the second /third-line. The danger of this amply demonstrated today, shares of Siberian companies. Speculative aircraft coming after the accident at the Sayano-Shushenskaya GES shares Siberian genkompany - TGK-13, Irkutskenergo, TGK-11 - today, falling by 6%. And it is against the backdrop of a growing market.

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