Oil falls but Russian stocks went up
On Wednesday, March 6, the Russian stock market is growing despite the falling oil prices. The RTS index in the morning confidence increases by 0.89%, while the index of the Moscow exchange, overtaking its currency counterpart, grows at 0.95%. Stocks fueled a powerful surge of a number of “blue chip”: “Norilsk Nickel” (+3,65%), “LUKOIL” preference shares “Transneft”, “Pole” (an increase from 1.5% to 2.3%). Cheaper shares of the Bank “Saint Petersburg”, “Gazprom” and “Severstal” (less than percent). ] Aeroflot[/url], LUKOIL, preference shares “Transneft”, “Pole” (an increase from 1.5% to 2.3%). Cheaper shares of the Bank “Saint Petersburg”, “Gazprom” and “Severstal” (less than percent).
Expect the index Mosuri will hold today’s trading, as before, in the interval 2450-2550 points, the RTS index is in the range of 1100-1250 points. A pair dollar/ruble today 65,0-66,7 RUB and EUR/RUB – no change, again, 74-75 RUB.
The current political scandal that the speaker of the state Duma Vyacheslav Volodin during a “government hour” interrupted the speech of the Minister of economic development Maxim Oreshkin and stopped the discussion on national projects because of the unavailability of the Minister to answer MPs ‘ questions, have not yet negatively affected the stock market.
It seems that the market perceives such discussions in Parliament as something natural, and, perhaps, is that economic policy of the government is not all happy. Press Secretary of the President Dmitry Peskov has described the situation as “workflow”. Social networks and some media have already expressed the assumption that the Maxim Oreshkin can wait for the resignation. According to the authoritative media and experts, is hardly possible in the near future.
Most likely, the Minister of economic development, who said recently that he would be “interested in working with the President of Russia”, other, less official pointed to his place, and in fact – that the Minister needs to effectively work in office and to be modest, less speaking with a loud interviewed about his power ambitions.
However, in a speech in the state Duma. still managed to sound the adjusted forecast of the ruble from the Ministry of economic development to 2019. According to the Ministry, this year the average rate of the ruble may reach 66 rubles per dollar, while earlier the Ministry expected the ruble will be stronger, and his average rate could be 63,09 RUB per US dollar.
The reduced forecast, the Minister explained, “changes in Euro/dollar,” but details about the situation in this currency pair the deputies and the speaker didn’t want to listen – national projects (as well as probably the majority of voters) was more interested in. But this statement had a negative effect mainly on the ruble than on the stock market.
Moscow exchange today reported under IFRS for the year 2018. The results were generally good. Net profit of the organizer of trade for the year fell by 2.6% to 19.7 billion rubles fee and Commission income grew by 11.5% to 23.65 billion rubles., operating income has increased by 3.5% to almost 40 billion rubles, but EBITDA declined 1.2% to 27.71 billion.
And the market for publication of statements of the Moscow exchange reacted by raising its shares by 0.58%. We believe, however, that for medium-and long-term investments shares of Sberbank in the financial sector more interesting than the shares of Masuri.
The Deputy Director of information-analytical center,