Stocks RusGidro today may be under pressure

Apparently, the charge of investor optimism in the global stock markets are running dry, so the achievement of the indices in the last two trading days of the week may be very limited. After a good session in the United States, where stock index rise was supported by a good promproizvodstvu statistics and data from the real estate market, at auction in Asia rally, investors' optimism regarding the restoration of the global economy has given way to desire to record a profit. The reduction of quotations of oil and metals, as well as the negative dynamics of futures for U.S. indices, the domestic market could open up the decline by 1-2%, especially given yesterday off Micex more than 4%.

The U.S. indices finished yesterday's trading session on the increase: Dow index has added 0,68%, SP - 0,58%. The main factor that supported the optimism investors had become makrostatistika. Surprisingly strong index was outstanding sales in the real estate market: it grew 0.1% in May, and in April its revised value of 6.7%. Also departed slightly from the projections and the production index of ISM, which rose to 44.8 in June, with the section of growth expectations to Clause 44.9, thus approaching to turn in paragraph 50, after the overcoming of which we can speak about the growth in industry .

However, the optimistic mood of investors подпортили expectations turned out to be worse than statistics on the number of jobs, as well as construction costs. ADP report showed that the number of jobs in the private sector in June fell by 473 thousand, which is better the May figure of 532 thousand, but still shows the deep crisis facing the labor market in the United States. Yet expect job cuts at 394 thousand from the joy of recovery of sales in the real estate market has been overshadowed by lower costs for construction, which fell by 0.9%, exceeding analysts' expectations.

Reduction appetite of investors to risk has been evident already in the U.S. trades. Despite the decline in oil reserves, the quotations of black gold have gone down, have not been able to consolidate at levels above $ 70 a barrel, which contain oil chips. Outsider session was the financial sector, which lost about 1%.

In Asia, the optimism of investors has dried up. Japanese Nikkei losing 0.5%, although individual sites remains positive dynamics: in particular in China, the market continues to rise otygryvat promproizvodstva.

Domestic indices are likely to occur today, declining to 1-2%, due to the weakening position of oil as well as the negative dynamics of American futures. Pressure on world stock market during the day will have a negative expectation of the official statistics of the labor market in the United States, where output is expected in 16-30. It may be that after its release tension spadet, and buying back on the market, especially since the ECB today could announce new measures to support financial markets and printing new resources to address the crisis in the economy. Virtually all experts believe that today the ECB will keep rates at 1%, but also make allusion to the fact that, as in the United States, the era of cheap money may fall for a year or even two. Also from the ECB's wait and additional nontraditional measures: Redemption of bonds and new injections of liquidity. Last week the Central Bank has already issued to banks lending to real sector of E442 billion, and began to redeem the bonds in the framework of the program for the E60 billion

From corporate histories worth paying attention to Rusgidro. The company today may be under pressure after take-off by 14% in yesterday's auction, but reports on the launch of ADR in August (in addition to listing in London) will run the next day to keep the demand for paper. In addition to the demand for shares of the company will be supported by very positive forecasts of the company for this year: it expects to receive in 2009, 28.3 billion rubles. net profit under IFRS to 19.48 billion rubles. loss in the 2008 forecast for revenue of 126 billion rubles. (16%), EBITDA - 49,7 billion rubles. (54%).

Further movement of the Russian market will depend on external signals, which are not conducive to shopping
The players are building up positions in futures on shares of Gazprom and Lukoil
Trading on Russian stock market opened with a break down in the 1%
Shareholders of Power machines have decided not to pay dividends for 2008
Bank of Russia has withdrawn the license for banking operations with Bank of Euro Trade
MICEX held quarterly revision of bases of calculating capitalization indexes MICEX and the MICEX Index 10
Trades in the United States on Wednesday shut down the growth of stock indices
The technical analysis of currency pairs
The course has increased the dollar - the morning review of cash markets

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