Europe

European markets decline on Monday. European FTSE Eurotop 100 index -0.79%, Britain's FTSE 100 -0.68%, German Xetra Dax -1%, French Lyxor Cac 40 -0.66%.

leaders in reducing the automotive sector, which is losing 2.7%. Morgan Stanley analysts recommended sell shares of Daimler, and HSBC cut the assessment on shares of Volkswagen with a neutral to worse than the market. Shares in Volkswagen fell 5%, Daimler -4.3%. Declining as stocks of banks. Royal Bank of Scotland -5.2%, Lloyds -4.8%, Barclays -2.6%. The negative dynamics of the mining sector caused by the scandal surrounding Rio Tinto. According to British media espionage officers Australia-British mining company Rio Tinto has damaged the economy of China in the amount of $ 100 billion Xstrata -3.3%, Rio Tinto -2.7%, BHP Billiton -2.4%.

Oil

Oil moderately adjusted on Friday against the backdrop of the strengthening dollar, are now being consolidated. Spot Brent $ 73.26, WTI $ 70.93. Futures in the neutral zone.

Russia

The Russian market is opened, without significant changes, and then consolidated in the neutral zone. After the decline of American futures market went negative. At 15:55 Moscow time the MICEX index declines by 1.64%, RTS index at 0.82%. Trading volume on the MICEX stock market on the average level of 36 billion rubles.

better market shares of chemical companies. Akron 2.8%, 2.3% Uralkali. Despite the decline in banks in Europe are good stocks of Sberbank -0.7%, worse than market VTB -3%. In the oil and gas sector decline. Surgutneftegaz -3.7% -2.3% Gazprom, Lukoil -2.3%, -1.6% Rosneft. In the dynamics of mixed actions metallurgists. MMC Norilsk Nickel -1.3%, -0.5% Severstal, MMK 0.4%, NLMK 1%.

Outlook

Activities and volumes declined, as meaningful today, there are no statistics, as well as corporate accountability. The direction of movement of the market at the end of the day will be entirely dependent on the U.S. market.

From the technical point of view, the purpose of ascending motion is a maximum of the year - the level of 1200 points on the MICEX index. Level of support will make the level of 1080 points. I think that higher highs this year, we did not leave, it is likely that the level of 1200 points in the near future we will not see. Maybe my point of view of the current situation and is unpopular, I am still waiting for the market to decline 15-20%. Buying in a situation where all markets are at a maximum of 10 months, it seems to me highly risky, so the speculators, I recommend to stay away from the market, and the medium-term investors may be partially closed position and record profits. Recommend long-term investors to hold the position.

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Analysis - Results of the day
The most likely scenario of futures on shares Lukoil - the reduction in area 14000
Quotations popular papers hung between the symbolic level of support and resistance, and the speculators turned active
The index of the Frankfurt Stock Exchange Xetra DAX fell 47.87 point, the index of the London Stock Exchange FTSE 100 fell 29.05, paragraph
At 16.00 Moscow time the volume of trades in the market for government securities MICEX was 26.59 billion rubles
In the 2 quarter of 2009, Far Eastern Energy Company increased net loss of RAR 2 times - up to 704.1 million rubles
Rate euro /dollar was established in the European session around 1.4200 level