Oil inhibits the growth of the Russian stock market
The mood of foreign investors continues to improve, and with them strengthen their positions in Russian stocks. Afternoon Mosberg index increased by 0.35%, returning above the level of 2300 points. RTS increased less than 1 percent, despite the fact that the ruble is practically not move – the pair dollar/ruble froze around the psychological mark of 62 RUB, trying to determine the vector of further movement. Brent oil slightly becomes cheaper after unsuccessful attempts to test the level of 78.
The leaders of growth among the most liquid securities – shares of Mechel, which rose in price by 3.5%. The group announced the acquisition of a new plant “Izhmetmash”, which is owned by two companies that are part of the “Tatneft”.
Paper “Russian grids” reduced by 0.85% after the appearance of reports that the Board of Directors recommended not to pay dividends for 2017 no ordinary, no preference shares. In its decision, the Board of Directors referred to the availability of loss according to financial statements for the past year. Thus at the end of the first quarter of the current year “rosseti” has shown good financial results. The company’s net profit under IFRS grew by 39% and revenue by 13%.
A good external background plays in favor of further strengthening the position of national indices. However, the signals from the oil market, where quotations are not able to continue yesterday’s recovery, act as a deterrent. If later in the day, the pressure on Brent increase, the Russian benchmarks are at risk to retreat from current levels.
InstaForex companies group