Global stock markets in spring depression
Most major global stock indices finished the Thursday fall. Against this background decreased and the Russian market. At the end of the day the ruble Mosberg index lost 0.7%, the dollar-denominated RTS index on the background of the decline of the ruble against the dollar fell more, by 1.42%.
Among leaders of decrease ordinary (-3,47%) and preferred (-2,44%) shares of “Sberbank”. The Dow 30 fell thus to 0.51%. On the morning of Friday, the majority of indexes of Asia-Pacific countries decreased by 0.1% to 0.9%. The exception was Hong Kong’s Hang Seng, which added about 0.1%. Futures on the S&P 500 index traded in the morning at around 2926 p., being slightly below the level of the previous day’s close.
The decline in Asian markets and oil prices has re-formed a negative background before opening the Russian stock market. Likely day the corridor index Mosberg is in the range of values 2535-2585 points, RTS index — 1235-1260 points. Today “Yunipro” will publish the statements for the first quarter, and Raspadskaya — production results for the same period.
On Thursday oil quotations has updated the local maxima, but to hold on to the new heights they could not. Before the bidding started at $73,7 per barrel of Brent, and then the price went up. The reason for the growth was the reduction of oil supplies from Russia to Eastern Europe due to quality problems of raw materials. The price has broken the resistance at $74,1, and by noon reached $74,7 – a new high since the beginning of November last year. At this level, the growth stopped, and in the evening altogether was a sharp correction, and the day ended close to $73,5 per barrel.
The morning of Friday, oil traded slightly lower levels yesterday evening, close to $73,4. Likely daily range for today’s trading, Brent crude is $72,6-74,1 per barrel. The medium range which is defined by the closest significant levels of support and resistance, after yesterday’s break of resistance at $74,1 widened to $70,4 is 77.9. The evening will report oilfield services company Baker Hughes active oil platforms in the United States. Recall that a week earlier, their number decreased by eight units to 825 units.
After the stock market fell on the eve of the ruble against the background of talk about increasing the risks of new sanctions. At the end of the day on Masuria, the dollar calculations “tomorrow” rose to 64,6550 RUB (+33,25 COP.), and the European currency has grown to RUB 71,9750 (+21,75 COP.). More modest growth is still associated with a reduction of the currency pair EUR/USD on the global currency market. Given the morning’s correction in oil prices, the weakening of the ruble may continue today. The expected daily range for the dollar amounts of 64.0-65.3 per RUB, for the European currency is 71.3-72.7 per RUB.
______________ Vadim Iosub,
Senior analyst at information-analytical center,