Oil is recovered by strengthening stock markets

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Major world stocks ended Thursday mixed. Russian stocks once again closed in negative territory due to the recovery of oil and postpone the threat of financial sanctions. At the end of the day the ruble Mosberg index added 0.12 percent, dollar-denominated RTS index on the background of a falling dollar, as the environment has grown much stronger by 1.24%. Among leaders of growth: “a Mechel” (+3,93%) and “Pyaterochka” (+3,13%).
The Dow 30 increased by 0.83%. Friday morning Asia-Pacific markets had a choppy, Shanghai and Hong Kong were growing up, Australia and Japan declined. Futures on the S&P 500 index was trading in the morning near 2726 p., 0.3% below the closing levels of the previous trading day. Continued on the morning of the rising oil prices gives a chance for further growth of Russian shares in early trading.
Likely day the corridor index Mosberg is in the range of values 2355-2405 points, RTS index — 1120-1140 points. Today the financial results according to IFRS for the nine months publish “Gazpromneft”, and “TMK” will present financial statements under IFRS for the third quarter.
Friday morning oil continued its moderate growth. Quotes returned to yesterday’s intraday highs, rising to $67,4. At night, the oil prices were steady near $65,9-$66,4 per barrel. Likely daily range for today’s trading, Brent crude is $66,7-68,0 per barrel.
With the retreat of the threat of financial sanctions, against the background of growing oil and after a successful auction on placement of OFZ ruble as Wednesday, continued on Thursday confident strengthening. At the end of the day on Masuria dollar with calculations “tomorrow” fell to 65,8975 RUB (-112,25 COP.), and the European currency declined to 74,6825 RUB (-127,75 COP.). Growing of oil can ensure the continued strengthening of the ruble in early trading. The expected daily range for the dollar is 65.2-66.6 per RUB, for the European currency — a 73.9-75.4 per RUB.
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Vadim Iosub,
Senior analyst,
Alpari