Russian stock indexes need the support of oil

  • And
  • +A

Leading stock indexes of the Russian Federation began trading Friday on a positive note and remain positive after noon. The external background has improved a bit: after declining in the US and Asia, European shares show a mostly bullish momentum that serves as a small support for domestic sites. Index Mosberg increased by 0.7% to 2291, while RTS increased by 1% in the stable exchange rate of the ruble, which had allowed myself to partially to win back losses. Brent crude is cheaper in the range of 0.5%, failing to attract buyers.
At the same time in the oil and gas sector prevails a positive attitude. Shares of “Rosneft”, “Gazprom” and LUKOIL are getting more expensive by 1.2%, 0.8% and 0.9% respectively. From the beginning to the end of April, Gazprom increased its gas exports by 6.3% yoy, up 0.3 billion cubic meters Before it became known that ExxonMobil is expanding its joint with Rosneft project LNG production volume of 15 billion dollars in the far East, despite sanctions.
Worse than market looked papers “Aeroflot”, falling almost 1% after reporting. In the first quarter net loss of SCAC annual equivalent increased almost twice, amounting to 8.75 billion rubles. Revenue increased 7.3% due to the development of the company. Aeroflot explains the massive losses of the seasonal characteristics of the market, supplemented by the influence of market factors. Cost of sales increased by 17.8% and amounted to 105,8 billion rubles.
Oil is traded with a downward bias, however, if the correction will be developed, and soon the quotes will be able to stabilize the Russian indexes will be able to stay in positive territory until the end of the session, even if American markets will open without enthusiasm.
___________
Igor Kovalyov,
Analyst
InstaForex companies group