Oil price pushed the Russian stock market to strengthen

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Against the background of unstable dynamics in the stock markets of the world Russian indices showed a rather volatile session on Thursday, in the moment updating the local minima and reducing losses by the end of the auction. At the end of the day the index Mosberg and the RTS dipped by 0.43% and 0.76%, respectively. The ruble also managed to move away from six-month lows and the dollar returned to the area 66 RUB
Today Asian investors exhibit more favorable attitude, largely because of signals from China, where the authorities promised to implement a plan aimed at spurring growth in real income.
However, the prospects for full recovery of interest risk look hazy, since the situation on the trade front remains tense, as the dynamics of the debt markets, where the yield of 30-year securities reached historical low, continuing to scare investors recession.
Oil prices greeted buyers in the fall and only for the morning session played yesterday’s losses. Brent crude, which yesterday touched a level 57,66 dollars per barrel, has risen in Asia to the level of 59 dollars, the breakdown which is the main objective of quotations in the short term. Today traders will switch to industry events in a monthly report OPEC, as well as weekly data on the number of drilling rigs operating in the United States. Potential recovery Brent is still limited.
Thus given the improvement in risk sentiment and a rebound of oil quotations in the beginning of the session the Russian indexes could fall back in the growth zone and to avoid new losses in the absence of new negative in the world.
Arseniy Dadashev,
Academy of management Finance and investment