Expectation of FR meeting in the USA

and summit G20 can support the markets

Yesterday we saw downfall on all the markets. Collapse on Tuesday has provoked desire of Greece to hold a national referendum, meaning that risks for financial stability and the existence of a euro zone have increased again. Another announcement about the bankruptcy of large American broker MF Global brought even more pessimism to the markets.

The European markets have fallen off yesterday on 2-7 %, thus have most worse proved to be French CAC-40 (-5,38 %) and German DAX (-5 %), Greek General Share has fallen on 6,92 %. The American stock markets have lost yesterday 2,5-2,9 %.

Today influence on the markets can have two factors: first, a lot of stocks are oversold, and secondly, expectations of a fundamental positive. Summit G20 in Cannes which begins today where, of course, the cores will be Greek questions. Leaders of Germany and France have already expressed the hope of performance of the arrangements reached at the summit of EU last week. Now the basic risk is the consent to carrying out of a referendum from the Greek government as in the country the most part of the population doesn't support the given program in this connection reached arrangements can be not executed.

Also from events of day it is necessary to allocate the data on employment in the USA: according to the forecast the data from ADP will support the share "bulls" who have remained in minority lately. Results of FR meeting which will be announced today - shall not bring any surprises and will not change market picture.

Oil prices are increasing. The future for oil of mark Brent has reacted to the data on stocks API: stocks of crude oil were unexpectedly reduced to 0,156 million barrels, gasoline stocks - on 1,129 million barrels, stocks of distillates were reduced to 3,435 million barrels. NYMEX is trading on 92,409 and Brent 109.632. Gold is up at 1726.45.