Markets continue to tear up, but oil can not penetrate the high this year

MICEX Index today rose by another 3.5% and reached 1090 points. It is the same mark, which consolidated the stock index during the month of May, before the decisive spurt to above 1200 points. Now this level once again serves as the level of resistance. At the same time, the quotations of oil futures continued to consolidate near the peak of this year. And we expect that out of the top oil still allow the domestic stock market break through to the top of the 2 June. The point is that all the major stock indices and commodities have to rewrite their maximums year. Only the Russian stock indicators and oil have been unable so far to do so.

The current upturn in the market led by shares of banks. And, if the shares of VTB shot 10% on Friday, today the leadership once again turned to the lag Sberbank. Today, shares of largest banks in the country plus at 8%, while VTB modest achievements of today's session - only 4%. Additional support demand in the shares of banks has today reported the bank HSBC, surpassed analysts' forecasts. More than 4% of the rise of paper Gazprom, MMC Nornikel, Transneft and the Surgutneftegaz. A little short Rosneft (3.6%), tries to reach up to 200 EUR. per share.

optimism in the markets persists. Stock indices of Germany and the UK are growing by nearly 2%, futures on S P500 show plus more than 1%. Left on Friday evening on the U.S. GDP in the 2 quarter. 2009, created in the markets, missing expectations of a speedy exit from the crisis, that allow speculators to play with the new forces at improving. We recommend that you stay in long positions, hoping for continued recovery. Of the potential risk to select only the prices of black gold. If the oil will not be able to break up, the Russian stock market is likely going to stalled on the spot. And if we do make a bet on rising prices for raw materials, it makes sense to devote a large portion of the portfolio shares of mining companies. The key in this regard is our oil and gas majors and MMC Nornikel, as the most liquid paper in the metallurgical sector.

From the emerging statdannyh, today the publication of indexes of purchasing managers in the industrial sector. Morning VTB Capital has published the corresponding figure for Russia (47.3 points), around noon, have been published data on Germany, the Eurozone and the UK, the evening is expected the new figures on the U.S. (18.00 Moscow time). All have published today the figures were not only higher than the previous month, but above forecasts of analysts, while the UK index has exceeded even the key line of 50 points, which shows no longer on the slowdown in decline, but the absolute growth in the sector. Let's hope and shtatovskie statdannye today will not be an unexpected obstacle in the way of obtaining the speed of bulls.

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