Pressure on the Russian stock market may resume

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Pressure on risky assets weakened after the morning sales, which is reflected in the dynamics of the Russian stock market, which will come out at the start of trading and accelerated the rise of the midday. Mosberg index rising nearly 0.8% and the RTS increased in the range of 0.5%, reflecting improvement in the dynamics of European markets and the resumption of growth in oil prices. Brent got support near 77 and has almost won back yesterday’s losses. The ruble traded virtually unchanged against the dollar and the Euro.
In the segment of the most liquid securities in the lead of the shares of NOVATEK, which grow almost 4%. “NOVATEK” for the first time in history has bypassed “Gazprom” capitalization during trading on the Moscow exchange as a result of active growth in length the past few weeks. Papers “Rosneft” grow up 0.55%. Investors have reacted calmly to the news that the company decided to withdraw from the project “Pechora LNG”, citing a lack of prospects. In “Rosneft” stressed that the exit is not accompanied by any losses or liabilities.
RUSAL shares added 1.3 percent. In August, the plants of the company increased export of aluminium by 7% compared to the previous month. Positive influence on dynamics of quotations has had reports about the readiness of the Russian government to support targeted by sanctions “RUSAL” through purchases of the aluminum company, or grant loans.
Despite the fact that the Russian investors cheered the optimism seems fragile, and sales can resume at any time. Negative signals today can come from the outside, from the United States who are preparing to impose new duties in respect of China. Despite the fact that the markets are ready for such development of events and response of Beijing, the fact of the escalating trade wars could lead the next wave of flight from risks that will overwhelm including the domestic market.
Igor Kovalyov,
InstaForex companies group