Good day. Friday ended with the decline of quotations on the Russian stock market. RTS Index fell 5.62%. MICEX index lost 2.78%. Trading volume decreased, reaching minimum values of the area in recent months.

In the final week of the session trading at the market dominated by sellers. In the morning, the MICEX index reached 880 points of the district, where able to find a temporary support, explaining the technical purchases in the calculation of the formation of double bottom. However, closer to the evening bears were able to update the local minimum selling market in the area of 870 items on the MICEX index.

From the technical point of view, we expect further sales in the auction this week, with the objectives in the region of 850-860, 800 points on the MICEX index.

Opening Monday allegedly held with gepom down. Additional pressure on the market could have a wave marzhin call-up to which is a few percent.

If decrease in the area of 800 items, we recommend to proceed with the investment purchases, bringing the overall share of the securities in the portfolio to 50-75%.

U.S. Stock Indexes closed bidding moderate decline Friday. The main pressure on the market had a weak index of consumer confidence. The indicator fell to 64.6 points. The consensus-forecast of the projected growth to 71.5 points. Investors fear the lower activity of consumers, as in this case the output of a recession could take years.

At the auction in Asia stock indexes traded in the red. Worse market feel of paper raw material companies in the background reinforce fears about the duration of a recession.

Futures on the SP 500 is currently trading below the key support level at 880 points. Expected us accelerate the decline has not yet happened. The main purpose of selling supposedly located in an area 780-800 points. The immediate objective rebound upwards - 880-890 points.

Futures on the RTS index in the course of the evening trading session was able to find support in the region of 80 000 points.

In the event of a resumption of purchases coming rebound goal located in the vicinity of 82 000-83 000, then 85 000 points.

The main objective of reducing the current week for allegedly located in the vicinity of 75 000 points.

Major macroeconomic data of week:

- Tuesday, 13.00 Moscow time manufacturing in the EU, 16.30 Moscow time the index of producer prices, retail sales for June in the United States;

- Wednesday, 12.30 Moscow time the unemployment rate in Great Britain, 16.30 Moscow time the U.S. consumer price index, industrial production of 17.15 Moscow time;

- Friday, 16.30 Moscow time on the construction of new homes in the United States.

moderately negative external background. America to close a moderate decline, oil and gas in the market, the financial sector is moderately worse than the market. Asia traded mostly down.

Final recommendation: Investor - buy on the achievement of District 800 points or 950 points higher than the output index MICEX; speculators - playing sales .

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