On the Russian stock market prevailing negative sentiment

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On Wednesday the Russian stock market prevailing negative sentiments, as, indeed, on foreign exchanges. In addition to the negative external background, domestic assets are feeling the pressure from the commodity segment, where the price of oil adjusted by an aggressive but short-lived rally the day before. To 14.00 GMT. the RTS index suffers losses in the range of 0.6% and the index of Mobimii is trading only slightly below their opening levels due to the weak ruble. The dollar/ruble holds near 68,20 RUB after the jump to high 68,50 RUB.
Brent develops a pullback from highs near 80, threatening the integrity level 77.
The shares of “Magnet” grow 1.7% after announcing the start of the program to repurchase shares worth up to 16.5 billion rubles. Operation is completed no later than December 28. The company stressed that the purchase of shares on the territory of the United States will not be held. The program is aimed at providing a “daughter” of JSC “Tander” shares necessary for the program to encourage employees.
Limits the pressure on the Russian market internal statistics. In August, the index of services increased from 52.8 to 53.3 due to decent growth in new orders. However, this is not enough to lead to a recovery of the ruble, which in turn presses on the RTS. The dollar remains strong in the Forex market, oil becomes cheaper, the threat of sanctions is maintained, and the currencies of developing countries don’t want to go on the mend – all painted bleak prospects for the dollar index, which continues to lag behind the index Mosberg in the future, if the ruble will not find a meaningful reason for the reversal.
Igor Kovalyov,
InstaForex companies group